Chancellor Corporation Announces Development of Beijing's First Western Style CASINO

Released_By: USANews Press Release Network
Date: 6/27/98
Time: 2:01:16 AM

For_Immediate_Release

A Spokesperson for Chancellor Corporation "CELR" announced today that final plans and financing are in place for the development of Beijing’s first "Western Style" Casino. The Casino is part of a master development agreement of a Joint Venture project with Chancellor Corporation and the Dadu International Jockey Club (DIJC) in Beijing, China.

In other related news concerning the project, the Hong Kong office of Chancellor announced today that they have began selling charter memberships in (DIJC). The membership fees range from $100,000 to $150,000 per member.

Chancellor’s Beijing office has announced the date for a major press conference to launch the Lottery operations within the People’s Republic of China. The press conference will be held in Beijing on October 20, 1997. The official Chinese government news agency, Cen Wah, is organizing and covering the event. Articles will be placed in all newspapers throughout the People’s Republic of China and formal press releases will be published for worldwide distribution on radio and TV. It is also anticipated that all the Department Heads of the Chinese government are slated to be in attendance.

Details of the lottery agreement are listed on the Internet at Geraldsnet Stock Research Network. http://www.geraldsnet.com

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