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Headliners Entertainment Group Secures New Financing of $30,000,000
By Staff
MONTCLAIR, N.J., Jun 10, 2004 (PRIMEZONE via COMTEX) --
Headliners Entertainment Group, LLC (OTCBB:HLNR) announced today that it signed its second financing agreement with Cornell Capital, Inc., making $30,000,000 available to Headliners. To-date, Cornell has advanced $4,275,000 to Headliners under the terms of their first $10,000,000 financing arrangement.

Ed Rodriguez, Headliners Chairman, CEO, and President, had this to say: "These Cornell financings have proved to be a win-win situation. Headliners wins because it gets mandatory funding. Cornell wins because it earns fees and a commission on its fully protected advances. In the end, the HLNR shareholders are our biggest winner, as Headliners is able to use the funds advanced by Cornell to implement its new business plan."

"This funding will allow Headliners to complete the negotiations for its acquisition of the Ten Dance Club Entertainment complexes per the previously signed and announced letter of intent. It will also give us the wherewithal to fast-track the Rascals Comedy Club planned for the Palisades center in Nyack, New York. We have a signed lease and will start construction in the 3rd quarter with a projected opening by October 1st."

For further information, visit: (www.rascalscomedyclub.com).

Safe Harbor

The information in this Press Release includes certain "forward-looking" statements within the meaning of the Safe Harbor provisions of Federal Securities Laws. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will provide to be correct. Factors that could cause results to differ include, but are not limited to successful performances of internal plans, the impact of competitors, and general economic risks and uncertainties.

SOURCE: Headliners Entertainment Group, LLC

Headliners Entertainment Group, LLC
Ed Rodriguez
Chairman
[phone]
www.rascalscomedyclub.com

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