AngelCiti Entertainment to Acquire Largest Land-Based Casino in Turks and Caicos

AngelCiti Entertainment to Acquire Largest Land-Based Casino in Turks and Caicos

- Signs Letter of Intent to Acquire Carib Gaming -

PEMBROKE PINES, Fla., Feb. 2 /PRNewswire-FirstCall/ -- AngelCiti Entertainment, Inc. (BULLETIN BOARD: AGCI) , an online casino software licensor, announced today that it has entered into a Letter of Intent to acquire Carib Gaming, the largest land-based casino company on the Turks and Caicos Islands. Carib Gaming owns and operates slot machine locations in several bars, restaurants and clubs. During the past year, Carib acquired the Islands' second-largest gaming operator, further cementing its position as the number one gaming company on the Islands.

AngelCiti President George Gutierrez stated, "The acquisition of Carib Gaming will be a watershed event in the history of AngelCiti. Carib Gaming is profitable and immediately will add considerable revenues to the Company's top line."

Gutierrez continued, "The marketing and management synergies provide a unique opportunity to leverage the benefits of online and land-based gaming to one company. We hope to complete the necessary accounting and reporting requirements within the next 90 days. We will provide additional information on Carib Gaming as the transaction progresses."

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, Chinese and Japanese. 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 risks 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.

OTC Financial Network
Rick McCaffrey, Investor Relations
781-444-6100 x625
rick@otcfn.com

AngelCiti Entertainment, Inc.
Evelyn Fallas
800-908-9574
Evelyn@angelciti.com


Source: AngelCiti Entertainment, Inc.

CONTACT: Evelyn Fallas, AngelCiti Entertainment, Inc., +1-800-908-9574,
or Evelyn@angelciti.com; or Rick McCaffrey, Investor Relations, OTC Financial
Network, +1-781-444-6100, ext. 625, or rick@otcfn.com, for AngelCiti
Entertainment, Inc.

Web site: http://www.angelciti.com/


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