E.T. CAPITAL, INC. ACQUIRES RESORT MAGIC VACATIONS, INC.

Press Release: E.T. Capital, Inc.

May 19, 1999
E.T. Capital, Inc. (OTC BB:ETCP) has acquired Resort Magic Vacations, Inc., of Las Vegas, Nevada for US$2.5 million.

E.T. Capital, Inc. will be relocating its offices to the offices of Resort Magic in Las Vegas, Nevada and will reincorporate the Company in the State of Nevada.

Resort Magic is a Timeshare and real estate marketing company headquartered in Las Vegas, Nevada and is a licensed real estate broker in thirteen states. Resort Magic's management team has extensive Timeshare experience and has been responsible for over $300 million in Timeshare sales.

Resort Magic has prepared a business plan that addresses the lack of a secondary, or re-sale, market for timeshare properties. Resort Magic has estimated that in excess of 100 million timeshare units have been sold world wide, and that over 1/3 of these could be available for listing as a sale or an exchange.

Until now, the resale market for timeshare properties have had no viable market place for either sales or exchanges. A fee of $150 will be charged for every listing accepted by the Resort Magic to list Timeshare properties with it.

Resort Magic is negotiating a 100% financing package on any properties accepted by the company for listing. This package will facilitate both the immediate closing of the transaction, and transfer of the properties to the successful purchaser.

Resort Magic is under contract to market the Timeshare inventory for the Pahio Group on the Island of Kauai, Hawaii and is also negotiating a Joint Venture of timeshare properties in key locations in Las Vegas, Nevada located in the proximity of the new "Bellagio'' and "Paris'' mega-resorts.