MONTCLAIR, N.J., April 18, 2005 (PRIMEZONE) -- Headliners Entertainment Group, Inc. (OTCBB:HLEG) announced today that it has entered into an agreement with the Internet's premiere wired and wireless entertainment group- TVNET.net (www.tvnet.net). Per this agreement, Headliners will provide TVNET.net with high-resolution video of its Rascal's Comedy Classics and Rising Stars library content, which TVNET.net will market through different portals and to various broadcast mediums. In return, Headliners will receive an equity percentage of TVNET.net's advertising revenues.
TVNET.net, a veritable Internet-based broadcast entertainment channel, specializes in producing and aggregating various content that is marketed to the personal computer-via the many emerging portal or destination websites-as well as to PMCs, PDAs and other handheld video devices, and eventually to HD Televisions as a legitimate alternative to cable and satellite broadcast technologies. TVNET touts itself as being able to deliver high-resolution content "in any manner, over any medium". Currently the company is able to effectively stream its content through satellite, cable, wireless and plain old telephone lines. TVNET.net intends to expand and establish brand-name awareness through a growing international subscriber base, increased industry partnering and Live-Event Internet streaming.
Headliners' agreement with TVNET.net is a first step towards its recently announced goal of moving into multi-media markets and emerging new broadcast technologies. According to the terms of the agreement, Headliners Entertainment Group will receive 15 percent of all advertising revenues TVNET.net produces through its subscriber-based website.
About Headliners Entertainment Group Inc.:
Headliners owns and operates Rascals Comedy Club, one of the premier comedy clubs in the United States, drawing upon its respected national recognition and rich history of providing the highest quality comedic entertainment in the industry. Currently, the company prides itself on its ability to employ successful entertainers at its growing chain of venues, both in its stand-alone and hotel-based operations. The company also owns 6 dance clubs to add to its revenue.
The information in this Press Release includes certain "forward-looking" statements within the meaning of the Safe Harbor provisions of Federal Securities Laws. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will provide to be correct. Factors that could cause results to differ include, but are not limited to successful performances of internal plans, the impact of competitors, and general economic risks and uncertainties.