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GAMMA INTERNATIONAL SIGNS LETTER OF INTENT WITH TV BINGO NETWORK

 BILLERICA, Mass., Nov. 5 /PRNewswire/ -- Gamma International, Ltd. (NASDAQ: GAMM) ("Company") announced today that it has signed a letter of intent with TV Bingo Network, Inc. ("TVBN") pursuant to which TVBN will provide marketing services for the Company's bingo operations, including its "MegaBingo(R) System," and acquire certain assets related to such systems if TVBN exercises its option to do so. The letter of intent, which is subject to, among other things, satisfactory completion of TVBN's due dilligence and the execution of definitive agreements, provides that TVBN will acquire an option to enter into a marketing agreement with the Company under which TVBN will aid and enhance marketing, development and improvement of the Company's bingo systems and as compensation therefore will receive substantially all of the net revenue from the systems. The Company will also grant TVBN an option to purchase certain assets of the Company's bingo system which option must be exercised by TVBN if it exercises its option to enter into the marketing agreement. There can be no assurance that the Company and TVBN will reach an agreement on the final terms of such options or that if an agreement on the terms of such options is reached, that the options will be exercised and the marketing agreement and asset sale will be consummated.
 Gamma International, Ltd. common stock, warrants and units are traded on NASDAQ Small Cap Market under the symbols GAMM, GAMMW, and GAMMU, respectively.
 -0- 11/5/93
 /CONTACT: Al Luciani, president of Gamma International, 508-670-0794, or John Swanson of Swanson Communications, Inc., 212-683-4890/
 (GAMM)


CO: Gamma International, Ltd.; TV Bingo Network, Inc. ST: Massachusetts IN: CNO SU: TNM

TW-LG -- NY025 -- 1175 11/05/93 10:59 EST
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Date:Nov 5, 1993
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