Chancellor Corporation Sets Major Press Conference in Beijing to Launch China Lottery Operations

Released_By: USANews
Date: 9/3/97
Time: 1:58:57 AM

For_Immediate_Release

Chairman Ron Sparks announced today that Chancellor Corporation, in conjunction with the official Chinese Press Agency will hold a major press conference in Beijing to launch its new Lottery operations within the People’s Republic of China. World Wide International Coverage of this event is anticipated.

OTHER RELATED NEWS

Mr. Sparks, returning from the company’s Beijing office reports that the Chinese Government is encouraging foreign investment, and has extended every opportunity to Chancellor Corporation to develop other membership related ventures.

The Joint Venture will begin pre selling "Founder Club Memberships"

A contract was signed for a 90,000 square foot location to develop an innovative and modern facility to house the Dadu International Jockey Club. The new facility will include a world class restaurant, recreational facilities, as well as provide some private Gaming equipment. The site will also feature state of the art "virtual reality" electronic equipment.

As previously reported, the joint venture consortium signed an agreement in April of this year to develop a 260 acre land parcel located in the suburbs of Beijing. The upcoming development of this land will include a world class horse racing track for the Dadu International Jockey Club, along with private club facilities. This track will rival the horse racing facility located in Hong Kong. The Hong Kong Jockey Club has been in operation for many years, and is said to be one of the largest dollar volume tracks in the world

"This is truly one of the largest financial opportunities available anywhere in the world today", said Sparks. He also added, "When you look at the ONE BILLION plus population and realize how rapidly China is developing their economy in the 21st century, it is nothing short of amazing."

All license and approvals are currently in place. The pace of development is accelerating rapidly. Additional announcements are expected soon.

For more information, contact: GERALD COMMUNICATIONS Gerald Sterchi -Director Investor Relations (916) 854-4931 Fax (916) 983-7783 E-Mail: gerald@geraldsnet.com URL: http://www.celr.com