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EDS Joins the Internet Gaming Software Front

DENVER -- First Entertainment Inc. (NASDAQ:FTET) has announced that it has acquired a majority interest in Global Internet Corp. from Global Casinos Inc. (NASDAQ:GBCS). Global Casinos Inc. currently operates four casinos located both domestically and internationally.

Global Internet Corp., formerly a subsidiary of Global Casinos, is in the process of developing a Virtual Casino on the World Wide Web. The company has engaged the services of DDB Needham Interactive Communications, a subsidiary of Omnicom Inc. (NYSE:OMC) and Electronic Data Systems Corp. (NYSE:EDS) to undertake the software design and development.

Under the terms of the agreement, DDB Needham and EDS have undertaken a Web site development program. Phase one is the development of five non-commercial gaming sites: blackjack, poker, roulette, slot machines, and keno. The contract calls for a proprietary continual connection on the Internet as compared to existing Internet protocol.

Phase two development includes multi-player games, commercial gaming sites and remote hosting. Multi-player games will permit group and tournament play as well as other features. Under phase two, the company is considering several international sites outside the USA for its commercial gaming operation.

Global Internet intends to introduce strictly non-commercial gaming for fun to the U.S. and will focus its commercial applications to the international market.

Tony Kay, president of Global Internet Corp., stated: "We view the Internet as an opportunity for major growth in all aspects of commerce. The international gaming arena happens to be our focus, and we are committed to taking full advantage of the opportunities represented by the strategic relationships we have entered into."

First Entertainment and On-Line Casinos have decided that it is in the best interests of both companies to terminate their letter of intent. In the company's opinion, Global Internet will be a better strategic alliance for First Entertainment's entry into Internet gaming.

First Entertainment Inc. is a company whose primary interests are in multi-media and entertainment industries. The company currently has divisions or subsidiaries operating in the areas of film, video production, radio broadcasting, comedy clubs, and specialty retail.

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