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GALLERY RODEO INTERNATIONAL SIGNS PURCHASE AGREEMENT FOR GAMING PROPERTY

 BEVERLY HILLS, Calif., April 1 /PRNewswire/ -- Gallery Rodeo International (GRI) (OTC Bulletin Board: GROI) has finalized its agreement with RTC Financial to purchase four contiguous lots within the gaming district of Cripple Creek, Colo.
 The company intends to begin planning the development of the Wandering Star Hotel Casino immediately. Gallery Rodeo International has started working with several local architectural firms to develop preliminary plans for the site.
 The site of the proposed Wandering Star Hotel Casino is one of the first locations within the gaming district where visitors arrive as they enter the historic town of Cripple Creek. The project will consist of one of the largest single-floor casino operations yet constructed in the state. It will provide between 100 and 150 rooms to the town, which currently has less than 20. In addition, the company would also like to include into the design of the project: conference rooms, a movie theater, a comedy club, some retail shops for ice cream or candy stores and possibly a bowling alley. Along with the surrounding beauty of the area, which has been enjoyed by large numbers of tourists for decades, the company will create an establishment where people will come to stay and be surrounded by a variety of activities and entertainment.
 Stephen M. Thompson, chief executive officer of Gallery Rodeo International, remarked, "The timing of our move into gaming couldn't have been better; newly released figures show that Colorado casinos generated a record $2.6 million in tax revenue on gross proceeds of $17 million in February. ... We are getting involved in gaming in the State of Colorado at a time when things are really starting to move."
 Gallery Rodeo International, through its retail art locations, markets original fine art and limited edition serigraphs, lithographs and sculptures. In addition to representing well-known artists' estates such as Renoir and Picasso, the company also promotes its own artists, such as Brett-Livingstone Strong, through its three company- owned galleries and in art galleries throughout the United States. The company currently operates three GRI-owned galleries in Beverly Hills, Lake Arrowhead, Calif., Scottsdale, Ariz., and has a licensing arrangement in Austin, Texas.
 Gallery Rodeo International, a publicly traded company, can be found quoted on the electronic bulletin board under the symbol "GROI."
 -0- 4/1/93
 /CONTACT: Gary Kucher, executive VP of Gallery Rodeo International, 310-273-2105/
 (GROI)


CO: Gallery Rodeo International ST: California, Colorado IN: CNO ENT SU:

BP-LS -- LA003 -- 1854 04/01/93 08:15 EST
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Publication:PR Newswire
Date:Apr 1, 1993
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