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To: JRR4 who wrote (4010)	3/15/1999 1:24:00 PM
From: David Babb	Read Replies (1) \| Respond to of 4767

NEWS: Monday March 15, 12:46 pm Eastern Time Company Press Release SOURCE: Entertainment Technologies & Programs, Inc. Entertainment Technologies & Programs, Inc. Announces The Completion Of Documentation For A $4 Million Financing Package HOUSTON, March 15 /PRNewswire/ -- Entertainment Technologies & Programs, Inc. (OTC Bulletin Board: ETPI - news), a fully integrated entertainment and amusement gaming company, today announced the completion of the documentation for a four million dollar financing package through Capital Growth Planning of El Cajon, CA. This step provided a $600,000 bridge loan as an advance to the entire financing package. The $600,000 will allow ETPI to finish the work and construction of the new Hero's Waterworld in Midland, Texas. This 92-acre entertainment complex includes an 18-acre waterpark that is being upgraded for the 1999 season and is projected to produce close to $2 million in revenues. The front entrance of Hero's Waterworld (better known as H2O) will house amusement assets that Stargate Entertainment (the amusement gaming division of ETPI) already owns. The deployment of these assets is expected to substantially contribute to the cash flow and profits of this center. The reason for the Hero's branding is to create a Family Entertainment Center that will support the Midland area year-round with parties, games, go-carts and so forth beyond the season of the waterpark alone. Mr. Phil Zaccaria, an engineer and President of PNP Petroleum, has taken the reins for the improvements of Hero's Waterworld. The goals are for the park to be fully operational by May 15 and open for Memorial Day weekend to start the season and remain open through Labor Day. ETPI also announced leases for both the restaurant and the speedway that are also part of the Hero's Waterworld complex that will produce additional revenue for the company. James ''Doug'' Butcher, Chairman/CEO of ETPI, stated, ''This is just the first of several 'focus and finish' projects that we have planned for fiscal 1999. We look forward to finalizing the entire funding package so we can complete all of our projects and maximize the return of our assets.'' Forward-looking statements in this press release are made pursuant to the ''Safe Harbor'' provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, timely completion of planned improvements at the waterpark, the continued popularity of the waterpark facilities, increased levels of family entertainment competition, completion of the entire funding package, and other risks. CONTACT: Pete Cahill, Investor Relations, Entertainment Technologies & Programs, 281-486-6061