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MAJESTIC DEVELOPMENT & MANAGEMENT CORPORATION PURCHASES 40 PERCENT INTEREST IN AMERICAN INDIAN ART BUSINESS

 MINNEAPOLIS, March 9 /PRNewswire/ -- Majestic Development & Management Corporation announced today that it has purchased a 40 percent interest in Oklahoma-based Original American Art International, Inc. (OAAI). An American Indian-owned business, OAAI was incorporated in 1990 and markets and sells authentic Native American artwork and limited edition prints on behalf of the artists who produce them.
 According to Majestic President Jack Deming, Majestic will work closely with OAAI in marketing and merchandising the Native American artwork. "We are excited to be involved with a company which promotes the unique talents of our country's Native American artists. As society becomes more aware of the value of ethnic diversity, we anticipate that the timeless beauty of this ancient culture's artwork will receive even greater worldwide acclamation."
 Deming said the investment provided a strong fit with the company's mission of helping American Indians establish economic development projects to complement the operation of gaming facilities.
 Established in June 1992, Majestic Development & Management Corporation was formed to work with American Indian tribes in developing and managing gaming facilities and other economic development projects. The company also intends to develop and manage gaming facilities in states such as Colorado, Mississippi and South Dakota where gaming is legal. The company is traded on the Minneapolis/St. Paul local over- the-counter market.
 -0- 3/9/93
 /CONTACT: David Neuger, (home) 612-699-6730, or Martha Danes,


(home) 612-493-2687, both of Edwin Neuger and Associates, 612-333-6621/

CO: Majestic Development & Management Corporation ST: Minnesota IN: CSO SU:

KH -- MN006 -- 4471 03/09/93 11:02 EST
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Publication:PR Newswire
Date:Mar 9, 1993
Words:253
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