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Microcap & Penny Stocks : ASK: "THE LAST DON" OF MOMENTUM TRADES -- Ignore unavailable to you. Want to Upgrade?

To: kha vu who wrote (8344)	3/4/1999 6:17:00 PM
From: rharris	Read Replies (1) \| Respond to of 15987

Talk about momo swings. This could be good for one (closed .01 X .012 today.... (BSNS WIRE) Eutro Group Holding, Inc. to Acquire 100% of Ivy Entertainment Eutro Group Holding, Inc. to Acquire 100% of Ivy Entertainment.Com Business Editors JUPITER, Fla.--(BUSINESS WIRE)--March 4, 1999--On Feb. 18, 1999, Eutro Group Holding, Inc. (OTC BB:EUTO) entered into a letter of intent under which it would acquire 100 percent of the issued and outstanding shares of Ivy Entertainment.Com, Inc. Ivy Entertainment.Com will operate two business activities. One is the newest night club in New York, the Ivy New York, and the other an innovative interactive entertainment company operating on the Internet. This is the first interactive virtual shopping mall specializing in the entertainment industry selling products and services originating in the Club. These two activities will increase Eutro's 1999 projected revenues to $4,000,000. Net profits in 1999 are estimated to be $1,500,000. The interactive aspect of Ivy Entertainment.Com is a new departure in Internet activity being the first virtual shopping mall that will allow people around the world to visit the club online via streaming video. In some cases they may interact with the stars who provide entertainment and celebrity. The online visitors will be charged a fee for a special event virtual visit. Revenues from this activity will also include commercial advertising fees as well as proceeds for the sale of products. The Ivy New York club opened in the fourth quarter of 1998. It is located on Broadway, in the Beacon Hotel adjacent to the famous Beacon Theater that has currently booked 120 performances for 1999. Details of Ivy's Millenium Eve Party, while not yet made public, should make Ivy New York one of the most sought after venues. Ivy New York's target market is the high income professional in the 25 and up age group. In addition to an abundance of such a target clientele in the metropolitan New York City area, there are over 30 million visitors per year who spend over $11 billion on shopping and entertainment. It is anticipated that 20 percent of the club's revenues will come from international tourists. Ivy New York is intended to be the showplace club of NY. The decor is antique English with 14 foot ceilings. Three different theme rooms surround the main dance floor. They are the Champagne Room, the James Bond Room which will offer 25 types of martinis, and the Smoker's Room featuring cigars from Davidoff. In addition to a state of the art sound system, live music will be performed by pop and classic rock musicians. In April, 1999, Ivy New York will host an event for the much anticipated 1999 VH1 Diva Show which will be held at the Beacon Theater. Every aspect of the club is super luxurious. Accessibility is facilitated by no less than eight parking facilities located within a two block radius of the club and Ivy will also offer its customers valet parking. The managers and operating staff of the club are among the most experienced in the business. Ivy Entertainment.Com is investigating the possibility of taking the concept created in New York and opening Ivy clubs in select domestic and international locations. Financial and legal details are being finalized and will be announced by March 16, 1999. The understanding is subject to entering into a definitive agreement and there can be no assurances that any such agreement will be reached. The Private Securities Reform Act of 1995 provides a "safe harbor" for forward looking statements. Certain information included in this Press Release (as well as information included in oral statements or other written statements made or to be made) contains statements that are forward looking, such as those relating to consummation of the transaction, anticipated future revenues of the companies and success of current product offerings. Such forward looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward looking statements. --30--APS/se* CONTACT: Eutro Group Holdings Investor Relations Mr. Wilkenson, 561/575-3520 KEYWORD: FLORIDA INDUSTRY KEYWORD: ENTERTAINMENT Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com * end of story *