Atlantic International Entertainment, Ltd's -AIEE- Announces It Will Develop Internet Charity Games for Cybergames -CYGA- First Lady Charities.BOCA RATON Boca Raton (bō`kə rətōn`), city (1990 pop. 61,492), Palm Beach co., SE Fla., on the Atlantic; inc. 1925. Boca Raton is a popular resort and retirement community that experienced significant industrial development in the 1970s and 80s. , Fla.--(BUSINESS WIRE)--Jan. 6, 1999-- Revenues Anticipated to Exceed $25,000,000 With 25% of Proceeds to Benefit Charitable Organizations Including The Red Cross of The America's Atlantic International Entertainment Ltd., AIE AIE Adventures in Education AIE Associazione Italiana Editori (Italy) AIE Arts in Education AIE Associazione Italiana di Epidemiologia AIE Applied Information Economics AIE Australian Institute of Energy (NASDAQ-OTC BB: AIEE AIEE American Institute of Electrical Engineers (now IEEE) AIEE Aeronautical Imagery Exploitation Environment ) announced today that it will develop Internet lottery-based games for Cybergames Inc (NASDAQ-OTC BB:CYGA). Through its Costa Rican based subsidiary, RCI RCI Royal Caribbean International RCI Radio Canada International RCI Rehabilitation Council of India RCI Residential Communities Initiative RCI Roof Consultants Institute RCI Remote Control Interface RCI Residential, Commercial, Industrial de Costa Rica Costa Rica (kŏs`tə rē`kə), officially Republic of Costa Rica, republic (2005 est. pop. 4,016,000), 19,575 sq mi (50,700 sq km), Central America. , S.A. the games are co-sponsored by the First Lady of Costa Rica, Lorena Clare de Rodriguez, with 25% of the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of the games benefitting charitable organizations including The Red Cross of The America's. Atlantic and Cybergames will introduce the games online in the first quarter of 1999. Cybergames anticipates revenues to exceed $25,000,000. Terms of the agreement call for Atlantic to receive a reoccurring revenue stream based on the revenues generated. Atlantic President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Richard A. Iamunno stated, "The Cybergames Lottery based charity games are an important contract for the company. We believe that the First Ladies Charitable Lotteries will be a great success and we look forward to working closely with Cybergames & RCI to insure a successful launch." Iamunno further stated, "The revenues involved in this project will be substantial. Atlantic's new lottery-based products will provide players from around the world exciting ways to wager and with the ability to win large jackpots." Cybergames President & CEO Mori Schwitzer stated, "We are eagerly awaiting the launch of these exciting games that will benefit thousands of people in the America's. Working with Atlantic insures that we will be offering our players the highest quality games in a secure environment. Twenty-five percent of the revenues will be distributed to the Red Cross of the America's, Children's Cancer Foundation as well as the Make a Wish Foundation." Schwitzer further stated, "We will also celebrate the end of the 20th Century with a major jackpot into the multi-millions that will be drawn on December 31, 1999. As the launch date nears we will be actively promoting the games on an international level along with Atlantic." AIE develops and markets Internet and private network transaction based products including global turnkey Internet Casino Extension, (ICE) for licensed casinos; web Sports, Internet sports wagering system; Hotel Hotlinks, in-room gaming and entertainment system; RealSports, an on-line sports information service and Internet-related products and services, including hand held wireless computers for all forms of E-Commerce, including Internet gaming. (Atlantic Internet). This press release contains potential forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. regarding the Company. The future performance of the Company involves risks and uncertainties that could cause actual results to differ materially. Such risks include competition and pricing pressures, dependence on telecommunications carriers, management of growth, customer turnover, technological change, governmental regulation, unauthorized use of technology, system failures and a variety of stock market-related risks. For a more complete description of certain of such risks and uncertainties, we refer you to the documents that the Company files from time to time with the Securities and Exchange Commission including 10K filed May 26, 1998 with the Securities and Exchange Commission and form 10Q filed November 16, 1998. This release is available on the KCSA KCSA Krannert Center Student Association KCSA Kentucky Crushed Stone Association (Frankfort, KY) KCSA Kyiv City State Administration KCSA Kalamazoo Christian School Association KCSA Kentucky-Canadian Studies Association Worldwide Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most Website at www.kcsa.com. |
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