To: Joe Copia who wrote (12109 ) 2/18/1999 10:09:00 AM From: Joe Copia Read Replies (1) | Respond to of 25711
THREAD ALERT>>>>RIHI NEWS February 18, 1999 10:00 RIHI and WorldNet Gaming Reach Agreement to Merge Forming a New Publicly Traded Company WorldNet Casinos.com Inc. LAS VEGAS--(BUSINESS WIRE)--Feb. 18, 1999--Ranes International Holdings Inc. (OTC BB:RIHI) announces that it had reached a definitive agreement to merge with WorldNet Gaming Ltd. To form WorldNet Casinos.com Inc. WorldNet Casinos.com will continue to provide industry leading Internet Casino gaming software through its WorldNet Gaming(TM) brand. As a public company, WorldNet Casinos.com will be able to capitalize on over $6 million of proprietary software and infrastructure development to grow its existing revenue stream at the fastest rate in the industry. "The financial markets this past year, were dominated by Internet related stocks that demonstrated incredible gains for investors. Now we plan to offer our investors the same opportunity -- with the added attraction of being in the fastest growing segment of E-commerce." said Kelly Arruda, President of WorldNet Casinos.com. According to Datamonitor, online gambling turnovers have the potential to dwarf those of other interactive services, tapping into an existing traditional gambling market valued at over $700 billion in Europe and the U.S. alone. Casinos, lotteries and sports books dominate the new market, allowing customers with an Internet connection and a credit card to gamble literally anywhere in the world. With the most successful services turning over more than $1 million per week, the current market value of $600 million is just the tip of the iceberg CNET Inc. (Nasdaq:CNET) has risen from $45 to $105 in the past two months, a gain of 133%; Excite, Inc. (Nasdaq:XCIT) has risen from $25 to $118 1/5, a gain of 374%; Infoseek (Nasdaq:SEEK) has risen from $20 to $78 1/4 over the past four months, a gain of 291%; America Online Inc., (Nasdaq:AOL) has risen from $30 to $175 in the last year, a gain of 483%; Lycos Inc., (Nasdaq:LCOS) has risen from $25 to $137 in four months for a gain of 448%; TheGlobe.com Inc. (Nasdaq:TGLO) has risen from $30 to $66 1/16 in the past two months, for a gain of 120%; Xoom.com Inc. (Nasdaq:XMCM) has risen from $22 to $58 in less than 12 months for a gain of 150%; At Home Corp. (Nasdaq:ATHM) has risen from $40 to $125 in the last 3 months, for a gain of 212%. On Friday, Jan. 29, 1999, Shop at home, Inc. (Nasdaq:SATH ) had the number one increase of all Internet stocks, with a gain of 44%, moving up $5.25 to $18 5/8, with a trading volume of 10,959,600 shares. Arruda continued, "We feel that this attention to Internet stocks combined with our high quality Casino software products, will only help fuel interest in WorldNet Casinos.com." WorldNet Casinos.com, pioneer of Casino Games and services for the Internet, is the leader in developing Casino games that are easy to access, exciting to play and safe and secure to use. For additional information please visit our web site worldnetcasinos.com , e-mail press@worldnetcasinos.com or call John Kirk, investor relations at 877/899-9950. Note: Certain statements herein that are not historical are forward looking statements involve risk and uncertainties. Investors who seek more information about the company's business and relative risk factors may wish to review the Company's periodic reports filed with the SEC including, but not limited to, its most recent Annual Report on Form 10-K/SB and Quarterly Report on Form 10-QSB. CONTACT: Ranes International Holdings Inc. John Kirk, 877/899-9950