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AngelCiti Handle Up from Previous Quarter

13 Apr 2005

PEMBROKE PINES, Florida – (PRESS RELEASE) -- AngelCiti Entertainment's (OTC Bulletin Board: AGCI) wholly owned subsidiary Worldwide Management announced today that net handle for the first quarter ended March 31, 2005 grew to 12,426,000, up over 45%, as compared to $8,542,000 in the fourth quarter of 2004. Worldwide had a total gross net win of over $295,550 as compared to $293,851 for the fourth quarter ended December 31, 2004.

George Gutierrez, AngelCiti's president, stated, "AngelCiti was very successful in improving business during the first quarter of 2005 resulting in the substantial increase in handle. This reflects favorably on the Company's new marketing and affiliate initiatives put into place to increase the Company's core business. While gross net win improved moderately despite the increased handle, we expect material improvements as we continue to increase handle and statistical gaming variations normalize. We are also pleased to report that the value of our holdings in Midas Entertainment increased during the first quarter to approximately $28 million, despite the fact that we issued a stock dividend to shareholders in excess of 1 million shares."

 
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