Virtual Gaming Enterprises (fka VGAM)

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Excitement about VGAM, heres why:

Virtual Gaming Enterprises, Inc. Announces Signing Of Cross Marketing Agreement with Wow Technologies, Inc.
ESCONDIDO, Calif.--(BUSINESS WIRE)--Jan. 2, 2001--Virtual Gaming Enterprises, Inc.(OTCBB:VGAM - news) today announced it has signed a letter of intent with Wow Technologies, Inc to cross market www.thecasinothemepark.com through its proprietary site: www.luxcard.com in return for a 24 month agreement to run a digital certificate for the Luxcard with-in Virtual Gamings casino themepark site.

Mr. Virgil Williams, President and CEO of Virtual Gaming Enterprises, Inc., states: ``The Luxcard is a prepaid private label proprietary card that can be used by potentially millions of adults to access the Luxcard website 'virtual mall' and various other entertainment website shopping partners via Wow's www.luxcard.com site.''

Mr. Williams added: ``Virtual Gaming Enterprises, Inc. could generate substantial revenues over the next 24 months based on Wow Technologies payment for guaranteed site hits generated by the placement of Virtual Gaming's site icon in the most visible location within the www.luxcard.com virtual mall,'' concluded Williams.

Wow Technologies, Inc. of Las Vegas, Nevada is engaged in the development and marketing of various prepaid stored value Internet card products to access the Wow website ``virtual mall'' www.luxcard.com.

Virtual Gaming Enterprises, Inc. is in the business of gaming on the Internet and operates a family of 18 Internet virtual casinos at www.thecasinothemepark.com and www.classicbet.com; is a partner in the sports book, www.vegasbook.com; and is a Master Gaming Licensee for the Commonwealth of Dominica. The online gaming market is projected to grow from $535 million to more than 3 billion by 2002 (source: Bear Stearns Co., NYSE:BSC) and the Company is strategically positioned to benefit from the predicted revenue explosion.

Except for historical matters contained herein, the affairs discussed in this press release may contain forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. These forward-looking statements may reflect assumptions and involve risks and uncertainties that may affect Virtual Gaming Enterprises, Inc.'s future business and prospects and could cause actual results to differ materially from these forward-looking statements.


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Contact:

Virtual Gaming Enterprises, Inc.
Virgil Williams, 760/510-0188
[e-mail]
http://www.vgam-ent.com