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ORANGE COUNTY BRIEFLY

March 02, 1994

Winners Entertainment Inc.: The San Juan Capistrano gaming company said it has terminated a letter of intent to merge with Las Vegas Entertainment Network Inc. and to then develop a dockside casino in Mississippi. Winners officials, reached on Tuesday, declined to comment on why the deal fell apart. Under a letter-of-intent agreement dated Aug. 12, 1993, Las Vegas Entertainment purchased Winners' interest in the Mississippi casino site for $725,000 and paid off the $158,500 balance due Winners on a promissory note. Winners then repurchased from the company some of its stock that had been purchased in connection with the proposed merger.

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