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Non-Tech : RIHI - Merger with Internet Gambling Co, - Worldnet Gaming -- Ignore unavailable to you. Want to Upgrade?

To: Mark Chamberlain who wrote (203)	3/29/1999 12:40:00 PM
From: James E Lynch	Read Replies (1) \| Respond to of 363

(COMTEX) B: Ranes/WorldNet Casinos.com Returns 1998 Profits of $1.2M; B: Ranes/WorldNet Casinos.com Returns 1998 Profits of $1.2M; Wagering Exceeds F/Y 1998 in Just Two Months of 1999 LAS VEGAS (March 29) BUSINESS WIRE -March 29, 1999--Ranes International Holdings Inc. (OTC BB:RIHI), merging with WorldNet Casinos.com announces receipt of unaudited financials that report profits for 1998 of $1.2 million on wagering of $13 million along with a significant wagering increase to $15 million in the first two months of 1999. "The market obviously rewarded our products and services in the first two months of 1999 with increased participation. During the same period, we were able to complete capital intensive software development of some exciting new games which will be available when testing is completed. WorldNet Casinos will continue its dramatic, and increasingly profitable growth because of the convergence of increasing Internet usage, especially in Europe and Asia, and continuing gaming interest. "The 1998 Casino & Gaming Business Market Research Handbook predicts that the Internet gaming market could reach $100 billion to $200 billion in annual revenues by 2005," stated Kelly Arruda, president of WorldNet Casinos.com. She continued, "1999 revenues have yet to reflect the significant wagering flow from our two major initiatives: 1. A new partnership with SBG Global, one of the largest offshore sports betting operations in the world. 2. Marketing and technology focus on the fast growing European and Asian markets. We are the industry leader. Now that we are becoming a publicly traded company, we will be better known, and we look forward to continuing profitable growth." WorldNet Casinos Targets Europe The Internet is attracting 10,900 new adult users in the UK every day, according to NOP Research Group. Some 10.6 million adults accessed the Internet at least once during 1998, NOP reports, a 48 percent increase compared with 1997. A study by InternetTrak has found the growth of the Internet in the UK is higher than in France and Germany and is equal to the growth shown in the US two years ago The number of Internet users around the world is constantly growing. The Computer Industry Almanac reported that by the year 2000, 327 million people around the world will have Internet access. The top 15 countries will account for nearly 82% of the these worldwide 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. Other participants in the Internet gaming industry are Bingo.com (OTC BB:BIGG), GLC Limited (Nasdaq:GLXW), StarNet (OTC BB:SNMM) and Global Intertainment Corp. (OTC BB:GGNC). WorldNet Casinos.com, a 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 about our products or company, please visit our web site www.worldnetcasinos.com, e-mail press@worldnetcasinos.com or call the Investor Relations Department toll free at 877/899-9950. Note: Certain statements herein that are not historical are forward looking statements which involve risk and uncertainties. Investors who seek 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. -0- pw/sf* azs/sf CONTACT: Ranes International Holdings Investor Relations Department, 877/899-9950 press@worldnetcasinos.com www.worldnetcasinos.com KEYWORD: NEVADA INDUSTRY KEYWORD: INTERACTIVE/MULTIMEDIA/INTERNET COMED 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 *