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/FIRST AND FINAL ADD -- NY076 -- EUROPA COMMITTEE NOMINATES SLATE/

 Mr. Goeglein stated, "In agreeing to take on the responsibilities as non-executive chairman, I am fully prepared to address, together with my fellow new board members, the problems that have plagued the company over the past 10 months. I feel that the addition of directors who have significant experience in gaming and daycruise businesses will bring focus to the company's performance problems and revitalize the confidence of the financial community in the company. Another top priority for the new board will be positioning the company for licensing in regulated gaming markets and retaining a full time president with extensive industry experience."
 Mr. MacRae added, "We recognize that the company has strategic properties and some unique competitive advantages in the riverboat and emerging gaming markets. This slate has the capability and talent to immediately formulate a plan to deal with the company's existing properties and to properly position the company to selectively take advantage of new opportunities in emerging gaming markets."
 Mr. Liberis added, "I am extremely pleased that recognized leaders in the gaming and marine industry with substantial operating and marketing experience are enthusiastically joining me in this fight to enhance the value of Europa. With their guidance and support, I believe Europa can return to profitability. The new board needs to carefully focus on our Mississippi properties and make a thorough evaluation of the merits of proceeding with the licensing, financing and development processes necessary to place these major assets in operation.
 "It is indeed unfortunate that Europa stockholders have little to show since the Bahamian company, Serco International Financial Advisors, and its Austrian Group wrangled control of the Europa board on Dec. 14, 1992, in a palace coup engineered by Mr. Reddien, Victor Gersh, the attorney for the Austrian Group, and by Europa's current chief financial officer, Ms. Sharon Petty. It has hurt us all greatly to watch Europa's stock price plummet more than 67 percent over the last ten months from $5.00 on Dec. 14, 1992 to yesterday's closing price of $1.625."
 Mr. Liberis stated that he has made a substantial financial incentive arrangement to induce Messrs. Goeglein and MacRae to make the commitments necessary in terms of their time and resources to Europa. Mr. Liberis has agreed to: (i) transfer 50,000 of his shares in the aggregate to them, (ii) grant them options to purchase 450,000 of his shares in total, (iii) support the grant by the new Europa board of 500,000 shares in options at an average exercise price of $1.75 to each of them, and support consulting contracts for each of their companies for services to be rendered to Europa at an annual rate of $125,000."
 The Committee also announced that it has made the required filing with the Securities and Exchange Commission expressing its intent to solicit proxies to elect new directors to Europa Cruises' board to replace the current board controlled by Serco International Financial Advisors and the Austrian Group at the annual meeting on Oct. 29. In the filing, the Committee indicates that if elected, they may ask Mr. Liberis to serve as interim president until an appropriate gaming industry executive can be retained as president. In the event there is not enough time for the Committee to obtain votes from a majority of the shares represented at the meeting, it intends to continue to take the necessary steps by soliciting proxies to execute consents to effect the removal of the Austrian Group of directors and replace them with the same nominees it is proposing for the annual meeting. The last date for the solicitation of its consents would be in mid-November.
 The Committee nominees collectively beneficially own 4,553,221 shares or 31.1 percent of the common stock that should be outstanding if Mr. Liberis is successful in his current efforts to validate his prior exercise of his option for 1,417,500 shares (Mr. Liberis' ownership above in this release includes such shares). The company also has outstanding 926,000 shares of voting preferred issued in June 1993 and another 900,000 shares of voting preferred issued in September 1993. Mr. Liberis is challenging both of these issuances to Serco or its affiliates.
 -0- 10/6/93 AA NY076
 /END FIRST AND FINAL ADD/
 /PRNewswire -- Oct. 6/


CO: Europa Stockholders Committee; Europa Cruises Corporation ST: Florida IN: CNO LEI SU:

WB-TM -- NY076A -- 9502 10/06/93 17:13 EDT
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Date:Oct 6, 1993
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