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ANUBIS II ANNOUNCES AGREEMENT TO ACQUIRE RIVERBOAT SERVICES, CASINO CRUISES AND CASINO CAREER TRAINING CENTER

ANUBIS II ANNOUNCES AGREEMENT TO ACQUIRE RIVERBOAT SERVICES, CASINO
 CRUISES AND CASINO CAREER TRAINING CENTER
 MINNEAPOLIS, March 16 /PRNewswire/ -- Anubis II Corp. and Riverboat Services, Inc., Casino Cruises, Inc. and Casino Career Training Center, Inc., announced today that they have signed a letter of intent whereby Anubis would acquire through an exchange of stock Riverboat Services, Inc., Casino Cruises, Inc. and Career Training Center, Inc.
 Anubis, which was formed as a vehicle to raise capital for an acquisition of or investment in one or more business enterprises, completed its initial public offering of common stock and warrants in May 1990. Anubis currently has approximately $2.8 million in cash equivalent assets and has been seeking acquisition candidates. Anubis common stock and units are traded primarily in the Minneapolis-St. Paul over-the-counter market.
 Riverboat Services, Inc., Casino Cruises, Inc. and Casino Career Training Center, Inc. are privately held companies owned principally by Bernard Goldstein and members of his family. Among other things, Goldstein has been active in the development of the riverboat gambling industry in a number of states, including Iowa and Illinois. Riverboat Services, Inc. and Casino Cruises, Inc. were created to provide fee- based management and consulting services to riverboat casinos developed by Goldstein and others. Those organizations, as a group, currently provide consulting services to two riverboat casinos located in Iowa, the Diamond Lady Riverboat Casino serving Bettendorf and Muscatine and the Emerald Lady Riverboat Casino serving Keokuk, Fort Madison and Burlington, and management services to one riverboat casino in Illinois, the Par-a-Dice serving Peoria. In addition to providing fee-based management and consulting services to those active in the gaming industry, the proposed acquisition contemplates that those organizations will actively seek to own, develop and manage gaming opportunities within the regulated segment of the gaming industry. Casino Career Training Center, Inc. provides training services for a fee to persons seeking careers in the gaming industry.
 The letter of intent anticipates an exclusive consulting agreement with Gaming Corporation of America, a privately held company owned principally by Robert W. Sabes and Sheldon T. Fleck, which is actively seeking to develop gaming opportunities on Indian reservations and elsewhere. Under the anticipated exclusive consulting agreement, after the acquisition of Riverboat Services, Inc., Casino Cruises, Inc., and Casino Training Center, Inc. by Anubis, those entities would provide fee-based consulting services on an exclusive basis for any gaming opportunity developed by Gaming Corporation of America.
 The acquisition and consulting agreements are subject to the negotiation and execution of definitive agreements approved by the boards of all companies, to approval of appropriate regulating authorities, and to certain investigations and due diligence review to be conducted by each party. Under the proposed acquisition, shares of common stock of Anubis would be issued on a basis resulting in Anubis' current shareholders owning approximately 54 percent of the common stock of Anubis outstanding after the transactions.
 According to Riverboat Services President Ed Ernst, "This merger of our organizations offers greater opportunity to capitalize on the knowledge we've developed in the past year opening three riverboat casinos in Iowa and Illinois. As a public company, we will be able to offer more growth and benefits for our employees and the Goldstein family. Also, our hundreds of collective years of casino management skills can potentially be used to successfully enter the new field of Indian gambling throughout the country."
 Sheldon Fleck, president of Anubis, shares those sentiments. "The gaming industry in this country is rapidly expanding and this acquisition presents an excellent opportunity for the shareholders of Anubis to participate in this growth industry."
 -0- 3/16/92
 /CONTACT: Sheldon T. Fleck of Anubis, 612-339-8171/ CO: Anubis II Corp. ST: Minnesota IN: CNO SU: TNM


AL -- MN012 -- 8391 03/16/92 14:52 EST
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Date:Mar 16, 1992
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