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Atlantic International Entertainment Announces News

19 June 1997

Boca Raton, Florida -- Atlantic International Entertainment, Ltd. has been busy courting new clients. They recently announced that it has licensed a webSports system to Players Sportsbook and Casino, which is located in Puerto La Cruz, Venezuela. This agreement will represent revenues in excess of $150,000.

AIE President & CEO, Richard A. Iamunno, stated that, "We are pleased to have our product associated with an innovative customer such as Players. The Players Internet site will offer their clients wagering and sports news beginning July 1, 1997 at http://www.PlayersOnly.com."

The company has also been involved with the Cook Island based, Casinos of the South Pacific (www.ck.cosp.com), and their U.S. based partner, Torrey Pines Nevada as noted elsewhere in RGT OnLine. That agreement is for the license of the company's Internet Casino Extension (ICE) system. The value of the agreement exceeds $400,000.

Richard A. Iamunno stated "that the Agreement with Casino's of the South Pacific represents the 9th license entered into for the company's gaming and wagering product line.

Other licensees include the Tropical Reef Resorts for an Internet extension of The Coral Reef Casino at Club Antigua's 465 Room Resort Hotel located at Jolly Harbour , Antigua , W.I. The first agreement is for the license of the Company' s Internet Casino Extension, (ICE"!) system, the second license is for the webSports "! system. These agreements will represent revenues in excess of $600,000.

Mr. Steve Jackson, I.E.E. spokesperson for Tropical Reef Resorts stated that, "We have been operating land based casinos in Antigua for over 20 years, currently the Coral Reef Casino at Club Antigua and Keno Palace Casino, St. John's. After extensive investigation we feel that ICE"! and webSports"! are the best products to extend our operation Worldwide via the Internet.

Also as reported elsewhere in RGT, AIE sold its Netherlands Antilles based subsidiary, Atlantic International Entertainment, NV, to Australian Advisors Corporation, a Bahamian corporation. Terms of the sale call for Australian Advisors Corporation to purchase 100% of the stock and assets of the subsidiary, including license agreements for one Internet Casino Extension and one WebSports system, for $850,000.

Australian Advisors Managing Director, David F. Laing stated, "The purchase of the Atlantic subsidiary gives us the ability to enter the interactive gaming market with the industry's finest products and the support system required for long term success. We plan to commence gaming operations in both Curacao and Venezuela by August 1997."

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