LOS ANGELES, Calif. May 26, 1999 (PRIMEZONE) -- Showscan Entertainment Inc. (OTC BB:SHOW) today announced the completion of a $1.5 million sale to Votraint Entertainment Pty. for a custom motion simulation attraction at the landmark Sydney AMP Tower in Sydney, Australia. The AMP Tower is the tallest building in Australia and serves as a magnet attraction in downtown Sydney.
The seventy-two seat film-based attraction, scheduled to open in December 1999, will feature a custom ride film in a fully themed environment. Offering a one-of-a-kind dynamic tour of Sydney, the AMP Tower "Skytour" will attract guests from around the world during the year 2000 Summer Olympic Games.
Dennis Pope, Showscan Entertainment's president and chief executive officer, commented, "The AMP Tower simulation attraction will be a unique, high profile venue for both Votraint Entertainment and Showscan Entertainment."
The AMP Tower sale marks Showscan's third recent custom attraction developed specifically for a major destination. Mr. Pope pointed out that "AMP Tower follows Showscan's successful attraction opening at Olympic Spirit in Munich, and will join that site and The International Centre for Life in England as world class tourist venues."
Harry Macktel, senior vice president of Votraint Entertainment, said, "We are very excited to do the deal with Showscan given Showscan's reputation for technological excellence."
Showscan Entertainment is an international leader in the production and exhibition of exciting movie-based entertainment attractions shown in large screen, special format theatres worldwide. Showscan's simulation attractions and specialty theatres are open or under construction in 24 countries around the world, located in theme parks, motion picture multiplexes, expos, world's fairs, resorts, shopping centers, casinos, museums and other tourist destinations. For more information, visit Showscan on the Internet at www.showscan.com.
Except for the historical information contained herein, the statements made in this release constitute forward-looking statements that involve certain risks and uncertainties. Certain factors may cause actual results to differ materially from those contained in the forward looking statements, including the number of timing or sales of Showscan attractions, the development and acceptance of new products, the impact of competition on the Company's products and pricing, the Company's ability to locate, finance and operate theatres for the Company's account, and the other risks detailed from time to time in the Company's reports on file at the Securities and Exchange Commission.
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