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BGI Corp. Appoints New CEO, President

16 September 2002

AUSTIN, Texas--(Press Release) -- BGI, Inc. (OTC BB:BGII) today announced that the Board of Directors has appointed Bill Schwartz President and CEO. Reid Funderburk, who has been serving as interim CEO, will continue his position as Chairman of the Board of Directors. Mr. Schwartz was also appointed to serve as a member of the Board of Directors.

Reid Funderburk, Chairman of the Board commented, "Bill's uncompromising integrity and grasp of business, legal and financial issues make him the perfect fit for this position. His tenacity and leadership abilities have served the Company well and we are pleased to have him on our team."

Mr. Schwartz said, "I'm honored that the Board has the confidence to allow me to lead the Company through these trying times. BGI faces significant challenges, yet I am confident we will meet them while serving the interests of our investors, charity customers and employees. My highest priority is to continue our efforts to obtain a judicial decision that confirms the legality of our charitable sweepstakes program so the regulatory cloud that has been hanging over the Company since January will be lifted."

Mr. Schwartz has been Chief Financial Officer of the Company since November 2001 and intends to continue in that role as well. Prior to that Mr. Schwartz was a financial and operations executive with several media companies most recently with Clear Channel Communications, Inc.

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