PEMBROKE PINES, Fla., May 25, 2005 (PRIMEZONE) -- AngelCiti Entertainment, Inc. (OTCBB:AGCI), an online software licensor, announced today that management has decided to dividend out additional shares in Midas Entertainment, Inc. (Pink Sheets:MDAS) held by the company, to shareholders in order to allow them the added benefit of direct share ownership in the meteoric growth of the online poker industry. The dividend will be one share of Midas Entertainment for every seven shares of AngelCiti owned by a shareholder. The record date will be set within the next few weeks. Midas was spun off from AngelCiti in July 2004 and AngelCiti retains a stake in Midas of over 3.1 million shares. AngelCiti anticipates that it will continue to own over 2.1 million shares in Midas after the dividend payout.
George Guiterrez, president of AngelCiti Entertainment, stated, "We have received a tremendous amount of positive feedback from the shareholders after the initial dividend and wanted to reward our shareholders for their continued belief in the ongoing development of our company. This is a unique opportunity for our shareholders to own a position in two companies with high growth and return potential in a very hot segment of the market."
Poker's tremendous growth and attraction has been evidenced by such shows as Celebrity Poker and the Travel Channel's World Poker Tour series, which has been a huge ratings success. NBC has recently begun televising poker events as well. Last year's World Series of Poker champion walked away with a world record prize of over $5 million, out of $49 million in total prizes, more than double the prize values awarded in 2003. The 2003 champion also earned his seat by winning an online tournament.
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, services casinos in English, Spanish, German and Chinese. For more information, visit http://www.angelciti.com.
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 sub-licenses. 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.