Chelsea Atwater Inc. announces corporate name change, new trading symbol.

DENVER--(BUSINESS WIRE)--Feb. 18, 1997--Chelsea Atwater Inc., a Nevada corporation, announced that it has changed its name to Cerex Entertainment Corp.

Cerex now has a new trading symbol, CERX.

Chairman and Chief Executive Officer John Brasher, said: "The change of name better reflects the varied business of Cerex: the operation of Internet virtual casinos and virtual card rooms, an international sportsbetting parlor, and exotic resort-casino properties."

Brasher noted that Cerex has devised innovative strategies to market its Internet gaming operations, which will be vastly more productive, and more cost effective, than advertising and other traditional marketing methods.

Cerex is in the process of raising equity capital for operations and expects to raise several million dollars in the first and second quarters of this year.

The designs of Cerex for Internet gambling are different from and far more audacious than the Internet offerings announced by other gaming companies to date. Cerex intends to dominate Internet gambling through its own worldwide network Experts have estimated that Internet gambling will amount to $10 to $20 billion annually by the year 2000. Cerex's goal is to command as much as possible of that market through its own network. The Internet's growth continues at a breathtaking pace. From 1 million Internet users in 1992 (when the World Wide Web was released to the public), there are now an estimated 50 million users. This number will grow to several hundred million users just by 2000.

"The Internet and related technologies are our common future...and Cerex will be an important player on the Internet stage," Brasher emphasized.

CONTACT: Cerex Entertainment Corp., Denver

John Brasher, 303-355-3350

fax, 303-355-3063

E-mail: [e-mail]

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