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BGI Readies for Launch of Its 'Virtual Sweepstakes' Engine

This reorganization has resulted in a staff reduction of 30%, realignment of the remaining staff in preparation of the roll out and sharpened focus on increasing sales in the Company's physical business.

"I have shifted our focus to completing an invigorated business plan and the Beta test of our Internet sweepstakes site, which is in the final stages of development. In order to bring BGII to profitability and increase shareholder value, I have taken a hard look at staffing, corporate organization and our sales effort.

We have downsized the size of the staff and are evaluating every other line item on the expense side to minimize cash outflow. Significant emphasis is being placed on the sales effort by redirecting the energies of our customer support representatives and technical staff. Weekly executive reviews of both sales activities and financial performance measure results against projections. Each employee has been challenged to become more efficient and productive in this effort. I am optimistic about the future of the Company through streamlining the operation of our core business and bringing the Internet sweepstakes site to fruition," stated Murphy.

Rhonda McClellan resigned as the Company's Chief Financial Officer and Treasurer on June 8th.

Mr. Alton Withers has been hired as interim CFO to evaluate the financial and accounting functions of the company, to implement more timely and complete reporting procedures for closer scrutiny, and to advise Mr. Murphy on financial matters. Mr. Withers has over twenty years of experience as an entrepreneurial financial executive in management including fourteen years with two major publicly held retailers, as well as CFO for a startup software design firm and owner of his own retail chain venture. He also spearheaded the reorganization and financial turnaround of Wickes Furniture.

Based in Austin, Texas, BGI, Inc. is a leading provider of instant cash sweepstakes games in the United States. Promoting the sale of prepaid phone cards with its stand alone Lucky Strike Prepaid Phone Card Dispensers featuring an instant win sweepstakes has provided the Company with the proprietary knowledge to take this marketing concept to the Internet. BGII has been publicly traded and fully reporting since December, 1994.

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