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Microcap & Penny Stocks : NSKY - NEW SKY - Movie production and MoviePlace.com site -- Ignore unavailable to you. Want to Upgrade?

To: Donster who wrote (2297)	3/26/1999 11:56:00 AM
From: Donster	Read Replies (2) \| Respond to of 6548

To all: We have a PR. Just talked with Reynolds and he submitted it to Bloomberg, Dow Jones and Reuters this morning. After confirming its publication, he e-mailed it to me. Here it is: FOR IMMEDIATE RELEASE NEW SKY COMMUNICATIONS, INC. ANNOUNCES ACQUISITION OF INTEREST IN MOVIEPLACE.COM INTERNET SITE AND ANNOUNCES FOURTH QUARTER AND 1998 YEAR-END RESULTS ROCHESTER, NY-Friday, March 26, 1999- NEW SKY COMMUNICATIONS, INC. (OTC:BB:NSKY) announced today that it has acquired a forty percent (40%) interest in the Internet site movieplace.com. The Web site contains video interviews with motion picture stars, reviews of current film releases and other items of interest to movie fans. The Web site features movie reviews and celebrity interviews by Mike Cidoni, whose movie reviews appear on television and radio stations across the country. Carl R. Reynolds, President of New Sky said today, “We are very pleased to have made this acquisition, which is a perfect fit with our main activity of motion picture production and gives us a presence on the Internet. Mike Cidoni's reviews are insightful and his celebrity interviews are unique. We hope to help develop the Web site into THE place on the Internet for movie fans.” New Sky also announced results of its fourth quarter and year-ending December 31, 1998. For the fourth quarter the Company lost $13,700, or $.00007 per common share, from continuing operations. This compares with a loss of $10,331, or $.00005 from continuing operations for the fourth quarter of 1997. For the year, the Company reported a loss of $47,337, or $.00019 per share from continuing operations. This compares with a loss of $36,026, or $.00019 per share form continuing operations for 1997. Net loss for the fourth quarter was $13,700, or $.00007 per common share. This compares with a net loss of $436,813, or $.002 per common share for the fourth quarter of 1997. For the year the Company lost $77,337, or $.0004 per common share. This compares with a net loss of $462,509 for the year 1997. The losses for 1997 stemmed form write-downs of the Company's investment in various film projects at December 31, 1997. The Company has 193,736,000 common shares outstanding. New Sky Communications, Inc. is a producer of independent motion pictures. CONTACT NSKY Colleen Tiffany (716) 244-7660 OR Carl R. Reynolds (716) 454-5490