AIEE Teams Enters into Agreement with Carib Design

3 December 1998

Atlantic International Entertainment Ltd. (OTC:BB:AIEE) has entered in to a license agreement for its webSports(TM) Internet wagering system with Carib Design, an Antigua based sports wagering company.

The terms of the license call for approximately $200,000 in revenues over the initial 24 months of the contract.

"Carib Design represents another of the growing sports wagering companies committed to expanding their player base via the Internet as well as cutting operating costs by migrating players from telephone wagering," said Atlantic President and Chief Executive Officer, Richard A. Iamunno. "We believe that this is part of the continuing growth of Internet-E commerce activity. … Carib Design is an ideal client for Atlantic, because they are dedicated to bringing their players the best in Internet based sports wagering."

AIE develops and markets Internet and private network transaction based products including global turnkey Internet Casino Extension, (ICE) for licensed casinos; webSports, Internet sports wagering system; Hotel Hotlinks, in-room gaming and entertainment system; realSports, an on-line sports information service and Internet-related products and services (Atlantic Internet).