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Microcap & Penny Stocks : GLOW - Global Games, Inc. - Great Profit Potential ! -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Jens Tingleff who wrote (8711)	3/16/1999 2:21:00 PM
From: jjbucci	Read Replies (2) \| Respond to of 8879

Tuesday March 16, 1:56 pm Eastern Time Company Press Release Global Games Signs Letter of Intent On Its Sports Book Software MINNEAPOLIS--(BUSINESS WIRE)--March 16, 1999--(OTC BB: GLOW - news) Global Games has signed a letter of intent to license its gaming software to First Entertainment, Inc. (OTC BB: FTET - news) with a definitive license agreement to be completed by April l. Under terms of the letter of intent, Global will license its sports book and other gaming software to First Entertainment. The arrangement includes a percentage of the net gaming revenue to be paid to Global Games for its software. We are pleased about establishing a working relationship with FTET,'' noted Gary Borglund, CEO of Global Games. ''We are intent on broadening our client base. This is the first of several new licenses we want to arrange. First Entertainment has a sound marketing plan that should result in a significant presence. We have reached an accord with respect to the basic terms of the license, so a definitive agreement is expected very quickly.'' In other news, Global Games and the State of Minnesota have been in settlement discussions to obtain relief from a cease and desist order so the Company may complete transactions with significant note holders of the Company. The final Hearing has been postponed to April 8, 1999. We hope to make an announcement concerning settlement with the note holders within a few days, but we must have the agreement formally signed with the State of Minnesota to do so,'' stated Borglund. This press release contains forward-looking statements with respect to the results of operations and business of the Company that involve risks and uncertainties. The Company's actual future results could be materially different from those discussed. Risks and uncertainties of the Company will be detailed from time to time in the Company's periodic reports to be filed with the Securities and Exchange Commission. Contact: Gary Borglund or Allysa Amundson Global Games Corporation Phone: 612-672-0834 borglund@globalgames.com allysaa@globalgames.com www.globalgames.com