SOURCE: AngelCiti Entertainment, Inc.

PEMBROKE PINES, Fla. -- AngelCiti Entertainment, Inc. (OTC Bulletin Board: AGLC - News) announced that it will be initiating operations of a Chinese based language online casino, and will be adding additional Asian-language-based websites, entering Asia's multi-billion dollar gaming market.

"We are near completion on translating SharkCasino.com into Chinese," remarked AngelCiti COO Wilson Lee, who formerly headed up WebVenture Asia, "and will soon create game-specific websites targeted directly at the immense Chinese gambling market. Shares in Chinese web portals such as China.com and Sina Corp, which have risen dramatically this year, have given clear indication that the capital markets agree this is a strong direction for AngelCiti to take. Given the immense size of the Chinese-speaking markets, and the Asian markets on the whole, we anticipate this strategic move will have a dramatic impact on our revenues for the remainder of 2003 and beyond."

The Chinese Market

Existing land-based casinos in China, isolated solely in Macau, generate in excess of $2 billion in revenues per year. Mr. Zongjian Cai, Chief Operating Officer of China-based 17173.com stated, "China is the fastest- growing online market in the world ... exceeding $1.2 billion US in 2002." That does not even include the lucrative Chinese-speaking populations in Hong Kong and Taiwan.

China is on track to become the world's largest Internet market within the next four years. AustralianIT News reported that there were roughly 68 million internet users in China at the end of June 2003, putting the world's most populous nation second behind the United States in terms of people online. The number of internet users in China grew by 15.1 per cent or 8.9 million people in the first six months of 2003, according to the twice-yearly survey by the China Internet Network Information Centre (CNNIC). According to SINA.com, by 2006, China will make up 53.1% of Asia's Internet Users, 51.2% Internet buyers, and 48.6% of ecommerce, according to IDC.