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VALLEY BUSINESS | REGIONAL ROUNDUP

SBI Communications to Merge With Valencia

August 29, 2000

SBI Communications Inc. of Glendale has agreed to acquire Valencia Entertainment International. Under the terms of the merger, Valencia will become a wholly owned subsidiary of SBI and the principals of Valencia will receive a majority interest in SBI common stock.

Valencia is a vertically integrated entertainment conglomerate that includes television production, motion picture production, sports, Internet and real estate holdings. The company has a 120,000-square-foot facility in Valencia.

SBI, a Delaware corporation, is developing interactive satellite-delivered bingo games, game shows and similar entertainment for television and the Internet.

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