LAS VEGAS ENTERTAINMENT NETWORK 'EL RANCHO'S COUNTRYLAND U.S.A.' TO HAVE 24-HOUR CABLE TELEVISION OPERATION

         $50 Million Offering Filed for Expansion, Development
                of Entire Complex By LVEN-RAS Securities
    LAS VEGAS, Jan. 3 /PRNewswire/ -- Las Vegas' newest attraction, "El Rancho's Countryland U.S.A.," to be opened in 1994 by the Las Vegas Entertainment Network Inc. (NASDAQ: LVEN), will come equipped with its own cable television channel.  LVEN intends its new satellite cable television outlet to be a 24-hour-a-day operation based in "El Rancho's Countryland U.S.A." and to serve the entire gaming and entertainment community in Las Vegas.
    LVEN, a major entertainment, media and gaming company, recently closed a $33 million acquisition deal for the El Rancho Hotel and Casino, one of the original gaming establishments on the Las Vegas Strip, and will develop it as a 22-acre "El Rancho's Countryland U.S.A."
    Noted Harry Wald, senior vice president for LVEN:  "It will promote all the events taking place at `Countryland U.S.A.,' and other gaming/resort properties, which will range from concerts by top name music entertainers to sports, gaming, news and daily variety productions.
    "It is the intention of LVEN for the cable TV channel to become part of the city's growth in the 1990s."
    In addition to state-of-the-art television production and broadcast facilities, the "El Rancho's Countryland U.S.A." will include two new 20-story towers (built to resemble a gigantic pair of dressed-up Western boots) bringing the number of hotel rooms up to 2,000 plus, a 90,000 square-foot casino, a theater to seat approximately 2,000 patrons, a country-themed shopping mall, a country-style dance club, a live, twice-a-day rodeo production facility, and a 55-lane bowling alley.
    "Everything will have a family oriented and country theme featuring the best of live entertainment and family attractions," announced Wald. "`El Rancho's Countryland U.S.A.' will create a uniquely identifiable silhouette on the Las Vegas skyline and become a full-time family resort destination."
    The announcement of the cable television operation follows news of a $50 million public offering filed by LVEN, in conjunction with underwriters RAS Securities, a prominent Wall Street investment firm, to facilitate the expansion and development of the "El Rancho's Countryland U.S.A." complex in Las Vegas.
    Disclosing the $50 million public offering, Kazi Hasan of RAS Securities also stressed commitment to the future of Las Vegas.  He stated:  "By underwriting this project we are investing in the development, not only of LVEN's `El Rancho's Countryland U.S.A.' but also in the future of Las Vegas.  We are very bullish on Las Vegas right now and for the long-term future, and the statistics in terms of visitors and growth bear us out.  The emphasis on destination family resorts and the country-style theme of the new project makes this an extremely viable investment."
    -0-                        1/3/93
    /CONTACT:  Lee Solters or Ian Dove, 213-651-9300, Selma Gore (NY), 212-661-5190, or Jay Goldberg (investor relations), 800-544-6640/
    (LVEN)

CO: Las Vegas Entertainment Network Inc. ST: Nevada IN: CNO ENT SU:

JB-MF -- LA002 -- 8365 01/03/94 06:31 EST