Business Editors
WEST ORANGE, N.J.--(BUSINESS WIRE)--May 9, 2000
Worldwide Entertainment & Sports Corporation (NASDAQ: WWES), today announced that it has procured an exclusive representation agreement with London based International Communications Enterprises Ltd., ("ICE"), a telecommunications company specializing in the production and sale of promotional/collectable telephone calling cards and CD-ROM products. WWES' Motorsports Division will exclusively represent ICE in acquiring license agreements with NASCAR teams, drivers or sponsors to use their name, likeness, autograph or logos on ICE manufactured telephone calling cards and CD-ROM related promotional products. ICE is currently licensed to produce and distribute telephone calling cards for some of the most prestigious motor racing organizations and drivers in the world. Some of ICE's licensees include Formula 1 (the world's most popular racing series); Formula 1 Two-time Champion Michael Schumacher; the Aprilia Motorcycle Racing Team; Max Biaggi and Fed Ex CART Series drivers Dario Franchitti and Paul Tracy.
Gerald Crocker, Managing Director of ICE, commented " We are looking to duplicate the success that we have achieved in Formula 1 with our promotional/collectable calling card series and promotional CD-Rom products in NASCAR. We believe that these products will be very desirable to the huge NASCAR fan base that is passionate about buying products with their favorite teams and drivers' images. We have retained Worldwide Entertainment & Sports because of their past achievements in the licensing arena and their solid reputation in the Motorsports industry."
Jay Schulthess, President of WWES' Motorsports Division, stated "the premier NASCAR race car drivers generate substantial income from licensing contracts and corporate endorsements, which often far exceeds their earning power as drivers. We believe that a licensing program with ICE's products and NASCAR teams and drivers can be successful for all parties involved. This agreement along with the licensing agreements that we already have in place with popular NASCAR drivers and race car teams continues to strengthen our NASCAR licensing business." Worldwide recently completed licensing contracts on behalf of Crews, Inc., a worldwide leader in eye and face protection products based in Memphis, Tennessee, with prominent NASCAR race car teams, drivers and sponsors, including Dale Jarrett, the 1999 Winston Cup Champion and the Winner of the 2000 Daytona 500; 1999 NASCAR rookie of the year, Tony Stewart; prominent Winston Cup drivers Bobby Labonte; Rusty Wallace; Terry Labonte, Ricky Rudd and up and coming 19 year old Busch Series driver Casey Atwood, winner of two Busch Series races in 1999. These licensing contracts relate to Crews, Inc. licensing the marks for the drivers' names, likeness, likeness of car, name of sponsor, team names and logos for the use on Crews eye and face safety glasses. Crews is presently planning mass production of these products, commencing in the spring, 2000.
About Worldwide Entertainment & Sports Corp.
Worldwide Entertainment & Sports provides management, marketing and commercial endorsement agency services to various sports entities. Worldwide recently announced that it was expanding into the Internet through the incubation and acquisition of sports-related Internet companies. In execution of this strategy, Worldwide has incubated Sportcut.com, a sports content website, and acquired Worldwide Houseofboxing.com., a boxing content website. Worldwide's sports agency clients include professional athletes in football, boxing, and motorsports. The Company's Football division client list is among the strongest in the NFL featuring All-Pro Antonio Freeman of the Green Bay Packers, O.J. McDuffie of the Miami Dolphins and Curtis Enis of the Chicago Bears. The Company has the largest stable of heavyweight boxers in the sport including NABF undefeated Heavyweight champion, Robert Davis, Danell Nicholson (ranked #6 by the International Boxing Federation) and Shannon Briggs. The Motorsports division engages in signing marketing contracts with race teams, racecar drivers and potential motorsports sponsors. Worldwide Entertainment & Sports is on the Internet at www.wwentertainment.com.
About Sportcut.com, Inc.
Sportcut.com, Inc., maintains a popular sports entertainment web site that is focused on becoming the primary online destination for cutting edge and in-depth sports entertainment content and state-of-the-art interactive web casting opportunities. Sportcut.com focuses on the celebrity aspect of sports in an interactive fashion through its Integrated Web Productions strategy. Sportcut.com is creating a valuable brand name in the online sports entertainment industry, with exceptional prospects to generate substantial revenues by aggregating loyal and demographically attractive visitors and multiple revenue streams from sponsorship, advertising and strategic alliances. Sportcut.com's Nov. 1999 launch was the most successful sports Web site launch in Internet history, collecting more than 12 million hits in its first 24 hours of operation. (source: Nielsen Net Ratings)
About Worldwide Houseofboxing.com, Inc.
Worldwide Houseofboxing.com is one of the premier online destinations for, and provider of, unique boxing content. Through the use of the latest streaming media technology, HOB enhances the way that boxing fans experience their favorite sport. By leveraging the industry experience and relationships of its management team, HOB provides its users and clients with proprietary text, photography, animation, audio and video content. HOB also provides Internet consulting services for boxers and boxing professionals including rising superstar Shane Mosley (scheduled to box Oscar De La Hoya on June 17, 2000 for the IBF and WBC World Welterweight championship), Michael "Let's Get Ready to Rumble" Buffer, Shannon Briggs, WBO Heavyweight champion Chris Byrd, Hector Camacho Jr., Bernard Hopkins and others. HOB also will leverage Worldwide Entertainment & Sports Corp.'s prominent boxing division and the professional relationships of its CEO, Marc Roberts, who has been a boxing manager and promoter for 20 years, to enhance its ability to obtain valuable content for HOB. By consistently providing superior boxing content online, Worldwide Houseofboxing.com is creating a valuable brand in the online sports industry.
This release contains forward-looking statements that are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "will" or "should" and similar expressions reflecting something other than historical fact are intended to identify such statements. These forward looking statements involve a number of risks and uncertainties, including, but not limited to: the success and achievement of the athletes managed by the Company; demand for their services; the ability of the company to attract additional clients; the effect of the Company's accounting policies; and other risk factors detailed in the Company's filings with the Securities and Exchange Commission. The company's ability to consummate additional acquisitions also is dependent upon the company's ability to secure additional financing.
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