PEMBROOKE PINE, Fla., Jan. 6, 2005 (PRIMEZONE) -- AngelCiti Entertainment, Inc. (OTCBB:AGCI), an online casino software licensor, announced today that it has retained OTC Financial Network, a division of National Financial Communications Corp., to implement a comprehensive investor relations program.
Geoffrey Eiten, president of National Financial Communications, stated, "AngelCiti continues to pursue opportunities in its core online casino software business. The Company generated a net win of over $3 million on more than $97 million in wages in the past two years. From its inception in May 2002 through September 30, 2004, AngelCiti had more than 156,000 downloads of its software and signed up over 58,000 players and has garnered almost 2,000 affiliates to drive traffic to its customers' websites as part of its aggressive affiliate program."
Eiten continued, "In addition to online casinos, the Company is reaping the rewards of its online poker operations. It retains a 4.6 million share equity stake in Midas Entertainment Inc. (Pink Sheets:MDAS), which has experienced tremendous growth over the past months. We look forward to representing AngelCiti to the financial community as an exciting player in the projected $10 billion online gaming industry."
George Guttierez, president of AngelCiti Entertainment Inc., stated, "OTC Financial Network has been retained to enhance our shareholder communications and increase our exposure on Wall Street as we embark on a global expansion strategy."
About OTC Financial Network
OTC Financial Network, a division of National Financial Communications Corp. (www.nationalfc.com) based in Needham, Massachusetts, is a full-service financial communications and investor relations firm that specializes in micro-cap companies. The Company's proactive campaigns are custom designed to strengthen each client's presence in the investment community by disseminating breaking news and fundamental positions to spheres of influence: building upon the client's existing shareholder base: and soliciting institutional coverage. For more information, visit http://www.otcfn.com.
About AngelCiti Entertainment Inc.
AngelCiti Entertainment is focused on acquiring interests in companies that provide software to the online gaming industry. The online gambling market has been booming since its inception and continues to expand at a rapid pace. Industry experts estimate that total gaming revenues could grow from $4.5 billion in 2002 to more than $10 billion by 2005 (source: Christiansen Capital Advisors). AngelCiti's wholly owned subsidiary Worldwide Management provides gaming software to numerous online casinos including SharkCasino.com and TheHouseWins.com, and currently services casinos in English, Spanish, German, Chinese and Japanese. For more information, visit www.angelciti.com.
OTC Financial Network serves as special advisor to AngelCiti Entertainment, Inc. and has received fees for services, including a monthly base of seven thousand, five hundred dollars, paid in cash. This is not an offer to buy or sell securities. Information or opinions in this release are presented solely for informative purposes, and are not intended nor should they be construed as investment advice. Full disclaimer information can be found online at http://www.otcfn.com/acgi/disclaim.html.
This news release contains forward-looking statements regarding AngelCiti's business strategies and future plans of operations. Forward-looking statements involve known and unknown risk and uncertainties. The company's risks and uncertainties include: intense price competition, economic, political and regulatory uncertainties, the need to raise additional capital for growth and expansion and its reliance on the internet as a means for promoting the software it sublicenses. The forward-looking statements contained in this news release speak only as of the date hereof and AngelCiti disclaims any obligation to provide public updates, revisions or amendments to any forward-looking statements made herein to reflect changes in AngelCiti's expectations or future events. The representations of net handle and gross net win in this press release are presented as measures of performance for the company that are different from those presented in the income statement in accordance with Regulation G promulgated by the Securities and Exchange Commission and are not to be considered as revenue or a GAAP related financial disclosure criteria.