Press Release
December 21, 2000
HOUSTON, TX -- LASV Enterprises Inc. (OTCBB:LSVE) signed a Letter of Intent with Rugby International Corp, and
the Union of Journalists, jointly known as Press - Loto, to become the Sole Online Lottery company in the lucrative
niche market of private and semi private online lottery business in the Russian Federation.
Experts en Traitement de l'Information Montreal, Inc. (E.T.I. or Expertise Technology Innovation) of Montreal,
Canada, will be providing hi-tech equipment and advanced terminal technology and software along with unprecedented
and trained management from the leading provider of Lottery equipment. This acquisition will close on or before
January 1, 2000.
Press - Loto, a Russian company, was founded in 1995 with the Union of Journalists and Rugby National Corp. as
joint partners. The charter of Press - Loto was to organize and operate the Russian Lottery. Shortly thereafter,
the Finance Minister issued the Lottery License with the ability and rights of the License to encompass Worldwide
Internet Gambling. In the creation of the infrastructure, an estimated $4.3 million was invested to ensure the
Lottery License has been issued according to the highest levels of government approval.
This Lottery is unique in comparison to other national lotteries due to fact that Press - Loto, a private company
will run it as opposed to the State. The highly acclaimed E.T.I. compiled a Moscow POS Location Strategy and Financial
Projections for 4 years.
Experts en Traitement de l'Information Montreal, Inc. (E.T.I. or Expertise Technology Innovation) of Montreal,
Canada, the company which developed and owns the proprietary software, designed and manufactured the gaming terminals
for the Quebec Lottery, and provides software, equipment and consultation services for the Quebec Lottery. Founded
in 1983, the Canadian based company, E.T.I., quickly migrated from a technology consulting firm offering a full
range of system development services such as project management, system analysis, data modeling, DBMS development
and programming, to Experts in Global Communications, Lottery and Gaming Solutions. Having successfully developed
and implemented a complete product range of gaming application software and multipurpose gaming terminals, these
products are currently in use by both the most advanced lotteries in the world to the least developed countries.
The quality of E.T.I.'s interventions and success of all projects undertaken are contributing factors to E.T.I.
outstanding reputation. E.T.I. and its affiliate E.T.I. Gaming will sell terminals, equipment and software while
providing continual support and management services to Press - Loto.
Russia is by far the largest independent country of which resulted from the break - up of the former Soviet Union.
Encompassing eleven time zones with a current population of 170 million, this untapped market lays home to Moscow,
the capital city and second largest city in the world, with an estimated population of 12 million and an additional
10 million located in the suburbs surrounding Moscow. Nizhy Novgorod, Russia's third largest city, has an estimated
population of 2.5 million with another 2 million in the surrounding suburbs. As is the case in Moscow, this population
is subject to fluctuations due to the influx of people into the city of Nizhy Novgorod in search of economic opportunities.
The marketing of the lottery will include both paid advertising and promotional and public relations activities.
E.T.I. has done a nationwide survey and assessment and has determined the following projections:
Year 1 $300 Million
Year 2 $1 Billion
Year 3 $1.5 Billion
Year 4 $2 Billion
The projected revenues are divided as follows:
Prize Allocation 50%
Expense Allocation 15%
Union of Journalists 17.5%
Rugby National Corp. (to be owned by LASV) 17.5%
The current existing Lottery business, which nets $7 Million per year, will also be acquired by LASV, therefore
allowing LASV to receive immediate earnings from the gaming industry in the Russian Federation LASV is extremely
excited by the acquisition and the potential to capitalize as the sole player of this upward climbing market. This
acquisition will close on or before January 1, 2000 with the intention to commence the immediate purchase of equipment
systems and operations are scheduled to start in the early part of 2001.
LASV continues to make acquisitions to enhance shareholder value and grow this company at a rapid rate.
Safe Harbor Statement
Under the Private Securities Litigation Reform Act of 1995: Statements in this press release that are not historical
facts, including statements about plans and expectations regarding businesses and opportunities, demand and acceptance
of new and existing businesses, capital resources, and future financial condition and results are forward-looking.
Forward-looking statements involve risks and uncertainties, which may cause actual results in future periods to
differ materially and adversely from those expressed. These uncertainties and risks include changing consumer preferences,
lack of success of new businesses, loss of customers, competition, and other factors discussed from time to time
in filings with the Securities and Exchange Commission.
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Contact:
LASV Enterprises, Inc.
Robert Abbott, 877/361-3628