American Vantage Companies Announces New Subsidiary CEO.

Business Editors

LAS VEGAS--(BUSINESS WIRE)--July 17, 2000

American Vantage Companies (Nasdaq:AVCS) today announced the hiring of Robert C. Wolfert as chief executive officer of its subsidiary, Placement 2000.Com Inc. ("Placement 2000").

Wolfert has more than 24 years of experience in the financial services, placement, software development and consulting industries worldwide. He was previously the president and chief executive officer of MVP Consulting/Constantin Group, the technology placement and consulting firm of the Constantin Group.

Prior to his position at MVP, Wolfert was managing director of Financial Technologies International, a state-of-the-art software development and consulting company serving the securities and related financial industries globally. Wolfert was a vice president with Chase Manhattan Bank, serving as strategic architect for Chase's Global Securities Business worldwide, and he held various management, operations, technology and marketing positions at Citicorp.

Wolfert was educated at the State University of New York and participates in a number of industry forums and local public affairs.

Ronald J. Tassinari, American Vantage Companies president and CEO, said: "Robert C. Wolfert has been a successful executive for many years in the financial and computer technology industries. We are confident that with his knowledge of the technology placement industry he will be instrumental in developing Placement 2000 into a company that, we believe, will provide profitability, growth and added value to the stockholders of AVCS. We are fortunate to be able to add Bob to our management team."

American Vantage Companies owns an 80% interest in Placement 2000.com, an Internet company specializing in online services for Information Technology (IT) professionals, companies and recruiters. The company also owns interests in two restaurants located in the Mandalay Bay Resort and Casino and the Excalibur Hotel and Casino, which are located on the Las Vegas Strip in Las Vegas. Additionally, the company owns 60 acres of land in North Las Vegas, Nev., which is being held for resale or future development.

This news release may contain forward-looking statements, which are subject to risks and uncertainties, including the lack of the company's experience in managing Internet businesses, the uncertain acceptance of the Internet, as well as the existing and potential competitors in the Internet business. The company's actual results may differ materially from those described in any forward-looking statements. Additional information concerning potential risk factors that could affect the company's business and financial results are included in the company's filings with the Securities and Exchange Commission. They can also be found on the company's Web site at www.americanvantage.com and on the Securities and Exchange Commission's Web site at www.sec.gov.