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Entertainment International To Apply for NASDAQ Small Cap Listing



ORLANDO, Fla. -- (OTCBB NEWSWIRE) -- July 16, 2001, Entertainment International, Ltd. (ENTI: .11) has signed a Letter of Intent to enter into a transaction with CS Technologies, a private liability company headquartered in Israel that is engaged in the business of the planning, production and installation of ultra-clean systems for transporting highly pure gases and liquids. CS Technologies currently has 104 employees. CS Technologies' customers include Sapio Gas Company (Italy), Hydrogas (Scandanavia), Pirelli Optic Fibres (Italy), Teva (Israel) and Intel, among others. CS Technologies' turnover for the first six months of the year 2001 was approximately $8 million, resulting in a net profit of approximately $1.5 million. It is anticipated that CS Technologies' turnover will increase by an additional $10 million during the last six months of 2001.

Pursuant to the terms of the transaction, CS Technologies' shareholders will transfer all of their shares in CS Technologies to ENTI and, as a result, ENTI shall own all of the issued and outstanding shares of CS Technologies free and clear of all liens, claims and encumbrances. In exchange for their shares, CS Technologies' shareholders shall acquire control of ENTI and its management.

The transaction is subject to customary closing conditions including, but not limited to, the satisfaction of certain legal requirements and due diligence investigations. Although there can be no assurance that the transaction will be consummated, or on what terms, ENTI expects to complete the transaction in the first week of August. Following the closing of the transaction, ENTI will submit an application to have its shares listed for trading on the Nasdaq Small Cap Market. ENTI has no current operating business and has a tax loss carry forward of approximately $44 million.

At 12:52 EST, ENTI is better by .015 (18%), with 93,800 shares traded, over 14X its daily average.