Venturenet Capital Group Inc (VNTN)

[Pennybuster]

Magicweb, Inc. Completes License Agreement
Wednesday January 18, 5:34 pm ET


MASSAPEQUA, NY--(MARKET WIRE)--Jan 18, 2006 -- Magicweb, Inc. (Other OTC:MGWB.PK - News) announced today it has licensed for distribution Venture Net Capital Group, Inc. of Temecula, California (Other OTC:VNTN.PK - News) to sell, distribute and service their EnterVision(TM) Internet Broadcast server and software package. This is the first of many such agreements Magicweb expects to sign with distributors in 2006. A distribution agreement is licensed for a fee $450,000. This agreement will put Venture Net Capital in the spotlight with the premiere Internet-based broadcasting system for the 21st century.
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Magicweb, Inc. is the developer of the EnterVision (TM) Broadcasting System, a proprietary, real-time broadcasting system for television delivery via IPTV (Internet protocol television transmission). The technology is similar to VoIP (voice over internet protocol), which provides the ability to make telephone calls over the Internet using conventional telephones. Unlike VoIP, however, there are no FCC regulations for the transmission of television or radio signals utilizing the IPTV format. And, unlike existing "streaming video" technology that utilizes packet-switched data transmissions and requires users to have dedicated programs to "play" video files, the EnterVision(TM) technology allows television broadcast quality 30.3 frames-per-second video to be transmitted on a real-time basis over a broadband Internet connection utilizing discrete JPEG files. Additional information on the company can be found at http://www.magicweb.com/.

The EnterVision (TM) system is software copyright and patent pending, which was created to replace satellite transmissions of video. The system is designed to transmit video from the source to home television. Other benefits of the broadcaster is the ability to broadcast, in real time, into any Java (TM) ready device without the need of a player or special software. Venture Net will be able to create a virtual television station or set up live video conferencing, among the many other uses for its broadcast.

About Venture Net

Venture Net Capital Group, Inc. is a management company that provides marketing and consulting services to public companies. Our clients are offered expertise in areas such as promotional, publicity, sales and management consulting. We specialize in helping with funding public businesses that represent emerging growth opportunities as well as established companies that demonstrate potential for long-term capital growth. Venture Net Capital Group, Inc. has extensive contacts in the broadcast industry and will be introducing the EnterVision technology.

Except for historical matters contained herein, the matters discussed in this press release are forward looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that these forward-looking statements reflect numerous assumptions and involve risks and uncertainties that may affect Magicweb, Inc. and its subsidiary businesses and prospects and cause actual results to differ materially from these forward-looking statements. Among the factors that could cause actual results to differ are: Magicweb, Inc.'s operating history; competition; low barriers to entry; reliance on strategic relationships; rapid technological changes; inability to complete transactions on favorable terms; and those risks discussed in the Company's filings with PinkSheets. Due to foreign distribution rights within the Canadian Network they cannot have their programming partners see this release until they have secured them all, therefore the identity of the network must remain confidential at this time.



Contact:
Contact:
Michael Brette
Venture Net Capital Group, Inc.
Tel: [phone]
http://www.vntrnet.com

Kevin McDonnell
Magicweb, Inc.
Investor Relations