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To: stockvalinvestor who wrote (59399)	3/3/1999 10:14:00 AM
From: Joe Copia	Respond to of 119973

RIHI NEWS Wednesday March 3, 9:30 am Eastern Time Company Press Release Ranes Announces WorldNet Casinos Contracts its Award Winning Internet Gambling Software to World Sportsbook Leader -- SBG Global LAS VEGAS--(BUSINESS WIRE)--March 3, 1999--Ranes International Holdings Inc. (OTC BB:RIHI - news) under a definitive agreement to merge with WorldNet Casinos, announces WorldNet Casinos has signed a strategic alliance with SBG Global, to license WorldNet Casinos' state-of-the-art Casino software packages as a Limited Partnership. SBG Global, one of the largest offshore sports betting operations in the world, selected WorldNet Casinos' software after a comprehensive review of all competitive casino gaming software packages. WorldNet Casinos will net 40% of the ''Net Win'' of all processed transactions. The rapid growth of Internet gambling was outlined in a 1998 Sports Illustrated cover story entitled ''Cyber Gambling: Should it be stopped? Can it be stopped?'' The story reports that analysts predict ''explosive growth'' in the Internet Sportsbook gambling industry. According to Sports Illustrated, ''What was a $60 million business in 1996 will handle $600 million in bets in 1998, with $6+ billion likely by 2001.'' This latest contract enables WorldNet Casinos to share in hundreds of millions of potential revenue with SBG, and achieve WorldNet's goals of tripling revenues in 1999 and growing faster than the industry. WorldNet Casinos, a pioneer in Internet gaming, is the developer of CyberBookie(TM), ''The First and Biggest Sportsbook on the World Wide Web''. Combining Internet Casinos, superior Internet technology, comprehensive and secure off shore account processing and the Casino games ''Players Love to Play'', WorldNet Casinos is the world's premiere Internet gaming software company. The benefits of this alliance to WorldNet Casinos include a dramatic increase in revenues and Internet advertising exposure throughout SBG Global's vast Internet presence. More importantly, it affords WorldNet Casinos the ability to include SBG Global's Sportsbook in all of its Internet Casinos and in those of its Casino Partners. SBG Global Sports, ''The world's most respected Sportsbook'', operates out of Costa Rica and may be visited at www.sbgglobal.com. Well known for integrity and customer service, the company was highlighted in a recent edition of Offshore Gaming Association news: ''SBG Global Sports'' 888/946-6374 -- This book is one of the premiere books in the Caribbean. They have been around for years and have the highest number of clientele, hands down. Their customers have always been paid, even when the company briefly closed early in 1998, every single one of their customers received every penny they were owed. We at the Off Shore Gaming Association have visited the book, immediately noticed the professionalism and pride of the personnel there. Their number one concern was customer satisfaction. And the technology there was state of the art. They have their own satellite and have several hundred employees to handle the volume of calls. ''This agreement with industry leader SBG Global validates the quality and capability of our Internet gaming software,'' said Kelly Arruda, WorldNet Casino President. ''Our $6 million investment in proprietary software and hardware infrastructure is paying off.'' According to the Computer Industry Almanac, by the end of 1998 there were more than 147 million Internet users worldwide. This number is constantly growing. By the year 2000, 327 million people around the world will have Internet access. The top 15 countries will account for nearly 82% of total Internet users (including business, educational and home Internet users). By the year 2000 there will be 25 countries where over 10% of the population will be Internet users. Forrester Research recently estimated that worldwide Internet commerce could reach as high as $3.2 trillion in 2003. The 1998 Casino & Gaming Business Market Research Handbook predicts that the Internet gaming market could reach US $100 billion to US $200 billion in annual revenues by 2005. Representative competitors in the exploding casino and gaming industry include: Lakes Gaming Inc. (Nasdaq:LACO - news), Monarch Casino and Resorts (Nasdaq BB:MCRI - news), Holly Holdings (OTC BB:HOPR - news), Ameristar Casinos Inc. (Nasdaq:ASCA - news), Park Place Entertainment Corp. (NYSE:PPE - news), Autotote Corp. (AMEX:TTE - news), and and Black Hawk Gaming and Development (Nasdaq:BHWK - news). 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 www.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 that involve risk and uncertainties. Investors seeking 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