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Look for great things from these guys! They've recently bought out the Precyse Corporation (creators of the immensely popular CyberBingo Internet game) and have a solid management team, and a solid growth plan. They've got a real nice looking website up at dceg.com where you can pick up all their releases. I've included the most recent PR below. -smacs- ======= April 5, 1999 dot com Entertainment Group, Inc. (d.b.a. .com Entertainment Group) Olympic Tower, 300 Pearl Street, Suite 200 Buffalo, New York 1420 NEWS RELEASE Symbol: DCEG Industry: CPR Subject: NWS Bingo: The World's Most Popular Gambling Game Storms the Internet April 5, 1999 - A BUFFALO, NY company has successfully combined the world's most acceptable form of wagering, Bingo, with the hottest communications medium of the last fifty years, the Internet, and believes that this combination will lead to an unparalleled business success. dot com Entertainment Group, Inc. now owns the CyberBingo™ software system for the express purpose of marketing it world-wide. CyberBingo™, the longest running online Bingo game, has been operating on the Internet since 1997 and has entertained more than 810,000 players, playing more than 50,000 games, resulting in more than US $560,000 being returned to players as winnings. dot com Entertainment Group, Inc. (d.b.a. .com Entertainment Group, collectively ".com" or the "Company", a development-stage company) is a diversified Internet software company that is publicly traded on the over-the-counter market under the stock symbol DCEG. The company fully expects to be listed on the NASDAQ exchange in the near future. .com is not an Internet gaming company. Rather it licenses the use of its proprietary commercial software products and trademarks, such as CyberBingo™, to independent, arms-length third parties, who are located in jurisdictions who have embraced and licensed Internet gaming as a legitimate business enterprise. .com sales are generated through license and royalty fees based on the gross sales of Licensees. Current royalty and license fees are helping to make the company profitable even at this early stage of its development. The CyberBingo™ site which currently runs over 120 Bingo games a day will provide .com with much of its initial revenue. The company also projects that a good portion of its revenue will come from related support, maintenance and consulting fees. Revenue is also expected to be generated by a the sale of valuable advertising space on the virtual Bingo cards and licensee sites and commercial sale of software, support and maintenance to the not-for-profit and charitable business sectors. CyberBingo™'s scaleable design permits an unlimited amount of players per game which of course increases the potential winnings for each game. Winners have the option of immediately cashing out and collecting their winnings or crediting their winnings to their private players account which is used to purchase additional games. Analysts have estimated that Internet gaming will generate revenues in excess of $955 million in 1999. USA Today recently stated that in 2001 Internet gaming revenue will exceed $2.3 billion. The Financial Times of London predicts that this will increase to $10.2 billion by 2002. By comparison, total gaming wagers in Las Vegas in 1997 were estimated at $4.9 billion." said Mr. White, President. "When we combine these growth projections with the demographics of our players, we see an enormous opportunity. Our players are not the stereotypical ladies from the church bingo parlour but rather the baby boomers turning to this game for some relaxation and fun after their day at the office. Our excitement comes from having the opportunity to directly tap into the spending power of the baby boomers through the power of the Internet medium." .com's business model is to market this game and others globally to arms length third parties in jurisdictions where Internet gaming has been embraced. Mr. White can foresee a time in the near future when players in North America are playing CyberBingo™ in English, French and Spanish while their counterparts play in their local languages in Germany, Japan and around the world. To replicate the social feeling of the Bingo halls, CyberBingo™ offers players the ability to simultaneously play and talk in a dedicated chat room. When CyberBingo™ and other games currently under development like an online version of Keno are accepted internationally, dot com Entertainment Group may become the new leader in the development of what is known in the industry as "sticky sites". A "sticky" site is one that can attract repeat users for a longer period of time. These have become the most desirable of websites since they are very attractive to potential advertisers. "Our goal is to increase awareness of our software products on a global scale. The unique aspect of the Internet is that it can reach the four corners of the globe. .com is continuing to assemble the management, development and marketing team to make CyberBingo™ and other interactive entertainment games a world-wide enterprise.", said Mr. White. In addition to .com's Internet entertainment products, discussions are under way for CyberBingo™ and its international infrastructure to be used by charitable organizations. The company is in discussions with a not-for-profit organization which represents some 60 children's charities, where it plans to develop, implement and manage entertainment software and technical support services for the not-for-profit and charitable business sectors. It is contemplated that registered charities may be able to license the software for use as a fundraising tool. The appropriate charities would actually be able to unlock the power of the Internet to greatly increase their money raising capabilities. "Internet gaming is fast becoming widely accepted world-wide in countries such as Australia who have embraced it as a legitimate form of business and a significant source of taxation revenue", said John Reilly, a .com Board member and senior member of the company's Marketing Committee. Mr. Reilly is the man primarily responsible for bringing E*Trade into Canada. "We envision adding more "cyber" games to the already successful CyberBingo™ game and growing the company into what will become the leading provider of Internet entertainment software." The .com website can now be visited at www.dceg.com. This site has links to the Cyberbingo™ game system (www.cyberbingo.net), which operates 24 hours per day and is played by players from countries throughout the world. .com plans to expand its Internet and commercial software product base in 1999 to become a leading provider of Internet entertainment software. .com is a development-stage company. Certain of the information contained in this news release constitutes "forward-looking statements", including but not limited to those with respect to the future revenues, the Company's development strategy, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the continued acceptance of the Internet, number of visits to the Company and it's affiliates web sites, as well as those factors disclosed in the Company's documents filed from time to time with the United States Securities and Exchange Commission. FOR FURTHER INFORMATION PLEASE CONTACT: Scott White, President or Andre Kern, Controller & Investor Relations at dot com Entertainment Group: (416) 366-1444 Investors: Contact Juan Dominguez & Dian Griesel, Ph.D. Media: Richard Land at The Investor Relations Group: (212) 664-8489 | ||||||||||||||
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