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Global Sports & Entertainment Reports Increased Revenues for Q3, Nine Month

For the third quarter of fiscal 2001, revenues were $319,519 an increase of 39.7% over the $228,697 generated in the third quarter of fiscal 2000. On a diluted basis, the company's operating loss per share for the third quarter was $0.09 versus a loss of $0.24 per share last year.

For the nine month period ended September 30, 2001, revenues increased almost five-fold to $1.3 million versus $228,697 in the first nine months of fiscal 2000. The operating loss per share on a fully diluted basis was $0.12 versus $0.25 in the comparable period of fiscal 2000.

Wayne Allyn Root, Chairman & CEO of Global Sports & Entertainment, Inc. commented, ``As the company continues to grow and we invest in our core business, we are seeing dramatic results from our efforts relative to fiscal 2000. In fact, our fourth quarter revenue is currently exceeding internal projections and is on track to produce revenue of $2.3 million.''

Root continued, ``As we continue to build our sales force and our database of customers, currently over 200,000, we will continue to develop and add more products and services that can be marketed to our ever-expanding customer list. As a result, we expect to build on our weekly success despite the uncertain economic times. This gives us great confidence in our proven business model.''

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