SeaEscape Hosts Second Meeting for Financial Community; Updates Expansion and Other Plans.

Business & Travel Editors

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Nov. 10, 2000

SeaEscape Entertainment, Inc. (OTC:SEPI), which operates the SeaEscape mini-cruises from Port Everglades, in Ft. Lauderdale, Florida, hosted a meeting for brokers, financial analysts, investment bankers and investors on board the M.V. Island Adventure last night to inform the financial community about some of the Company's expansion plans. In the course of a question-and-answer session that followed, the Company also updated some of its previously-announced plans.

The Company had previously announced its plans to either acquire the 512-foot long, 15,000 ton, M.V. Island Adventure, or a comparable ship, and to dramatically refurbish her to create what Company Executive Vice President, Bruce Yasukochi calls a "killer" ship, that will revolutionize the day cruise market. Speaking to over 150 attendees, Mr. Yasukochi compared the Company's plans to impact the mini-cruise market with what Office Depot has done to the office supply business and what Home Depot has done to the building supply and hardware businesses.

While answering questions about the Company's future growth plans, Mr. Yasukochi indicated that the Company may look to replicate its Ft. Lauderdale operation in other markets, once it has perfected the expanded and revamped product, referring to this plan as a "template" model. He stressed that the Company's first focus will be to ensure that its flagship project in Ft. Lauderdale is the strongest and most successful day cruise operation possible before entering new markets.

Mr. Yasukochi also updated the Company's previously announced plans for internet gaming, explaining that further review is required in light of the current regulatory environment. The Company continues to investigate the possibility of establishing a dynamic interactive gaming site to enhance the recognition of the SeaEscape brand on the internet, but it is unlikely that the site will include gambling until the laws governing online gambling clearly permit these types of activities in the United States.

The due diligence meeting onboard the ship afforded attendees an opportunity to experience a mid-week cruise and to get an up-close view of the Company's existing ship. During the meeting, they viewed a 12-minute video highlighting the Company's past and plans for the future. Guests also heard presentations from experts in the financial community including Assia Georgieva, Research Analyst, with Ryan, Beck & Co., and Leo Hinkley, V.P. of Corporate Communications with BankAtlantic Bancorp, Inc., who spoke about their perspectives on the cruise ship industry, the Florida financial outlook, and SeaEscape's place in its financial and geographic markets. The presentation was emceed by Mr. James DePelisi of LDV Consulting, Inc., who hosts a weekly radio program in South Florida, The Investor's Business Hour. SeaEscape was a featured company on four episodes of Mr. DePelisi's show earlier this year.

Some of the questions fielded by Mr. Yasukochi and by April Spring, the President of the Company's investor relations firm, JumpStart IR, included inquiries about the Company's plans to move to a national market or exchange. The Company, which earlier this week was accepted for inclusion in Standard and Poor's Corporation Records, plans to file a registration statement with the Securities and Exchange Commission upon completion of the audit of its last three years' financial statements. The filing with the SEC is anticipated to occur at the end of calendar 2000 or beginning of 2001. When the registration statement has become effective and the Company otherwise qualifies, management intends to apply for listing on The Nasdaq Stock Market or the American Stock Exchange. The possibility exists that prior to that time, the Company may seek to have its stock quoted on the Over-the-Counter Bulletin Board, although Management's strong preference and intentions are to move directly to a national exchange.

Mr. Yasukochi repeated the warning regularly included in discussions of the Company's expansion plans, that the financing for those plans is not yet in place, and those expansion plans are contingent on the availability of that financing on terms acceptable to the Company.

This press release may contain forward-looking statements that involve a number of risks and uncertainties. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, but are not limited to, conditions affecting the entertainment, cruise and gaming environments in South Florida; the region's economy in general; the Company's ability to finance its planned expansion efforts; and changes in regulations affecting the Company's core business.

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