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Microcap & Penny Stocks : ECNC: BETTING, INC. A WAGER ON NEW GAMING TECHNOLOGY -- Ignore unavailable to you. Want to Upgrade?

To: blkjk7 who wrote (1969)	5/3/1999 10:25:00 AM
From: SCOOBEY-DO	Respond to of 2909

The following is FTET's press release: May 03, 1999 09:17 First Entertainment.com and eConnect, Partner in Internet E-Funds, Cash Transfer Solutions DENVER, May 3 /PRNewswire/ -- First Entertainment.com (OTC Bulletin Board: FTET) a fully reporting company announced today that it has entered into an agreement with eConnect (OTC Bulletin Board: BETT) and Electronic Transaction Technologies (ET&T) to bring to market its patented ATM smart card devices for electronic e-commerce transactions, taking internet transactions from "credit to cash." The joint venture agreement calls for the Companies to develop, finance, and market the e-commerce cash transfer technology along with its enabling Merchant Response Software, which together will revolutionize how commerce is transacted on the internet. The First Entertainment and eConnect commerce relationship significantly increases the development of marketing and sales opportunities available to each company. The new e-commerce technology will allow consumers with bank accounts and PERFECT devices (personal encrypted remote financial electronic card transactions) to effect same as cash payments to merchants and vendors using ATM cards. Consumers without bank accounts that have PERFECT devices can effect same as cash payments from their home by use of a smart card. In both cases, connecting the consumer directly to the recipient merchant without passing sensitive data (like credit card numbers) over the Internet. The venture also includes the development and licensing of the following patented devices; PocketPay, a wireless data terminal/cell phone that can affect PERFECT data modem transactions; SLICK, which offers an alternative internet security device by bypassing the internet with bank data; and patent pending TV PIN PAD remote, which will allow non-addressable DBS from your phone. According to industry analysts, online shopping is expected to account for more than $30 billion in sales during 1999 and that number will continue to grow, as people become more comfortable using the Internet to make purchases. However, the simpler and more secure the transaction the more comfortable people will be shopping online. The "PERFECT" device will facilitate this simplicity. A.B. Goldberg, President of First Entertainment, stated, "This technology will add a significant ease of entry for e-commerce transactions in all of First Entertainment's expanding online communities of network niche portals. The PERFECT device will reduce the transaction costs as well as giving merchants immediate cash allowing for improved margins in what has become a highly competitive e-commerce market." This technology also lends itself to First Entertainment's internet gaming activities and will be offered as the payment of choice in those jurisdictions where internet gaming is considered legal. First Entertainment is a multi-media company and has divisions or subsidiaries operating in the areas of radio broadcasting, comedy clubs, and Internet gaming. As well as other internet related activities. 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. For more information, please visit www.FirstEntertainment.com. SOURCE First Entertainment.com /CONTACT: Steve Goodman of First Entertainment, 303-228-1650O/ /Web site: firstentertainment.com