VGTel, Inc. dba 360 Entertainment & Productions Set to Launch Internet Sweepstakes Kiosk Business

NEW YORK, March 30, 2012 /PRNewswire/ -- VGTel, Inc. dba 360 Entertainment & Productions (OTCQB: VGTL) (OTCBB: VGTL) is poised to enter into one of the most explosive growth industries in America with the distribution of its Internet Sweepstakes Kiosks. Nearly 60 million Americans play sweepstakes games every year. Internet Sweepstakes, currently an unknown industry to most folks, is actually one of the fastest growing industries in the country with about $15 Billion per year in revenues. (Bloomberg Businessweek, April 21, 2011)

The Company announced that it has finalized its purchase of its initial batch of kiosks this week.  "We are excited about seeing the first kiosks roll off the assembly line just around Memorial Day and delivered into our locations," noted Peter Shafran, CEO. "The Company is already scheduling its next order, one of many more to follow," Shafran added.

The Company is currently in negotiation with several large scale internet sweepstakes operators in six states within the Northeast, Mid-Atlantic and Southeast regions of the US to acquire existing Internet Sweepstakes locations and bring them under the 360 tent.

One of those groups in talks with the Company operates approximately 250 internet sweepstakes outlets with the desire to triple their reach to more than 750 by the end of this year. Some of those locations would include racetracks with 200-500 units per location. Another group we are speaking with operates 325 units in 21 locations with plans to expand to more than 1200 units in about 75 locations in 2012.  "Our goal is to acquire existing locations and partner with these groups to develop rapid expansion and market penetration," said Shafran.  The Company expects to have definitive agreements in place within two weeks. The projected combined net revenue from the existing locations exceeds $200,000 per week.

About 360 Entertainment & Productions

360 Entertainment & Productions is devoted to creating a multi-platform entertainment and media company offering content, production, distribution and programming, along with products and vehicles for financing tax credits and other products tailored to the entertainment industry. Our business outlook is based on a strategy of growing and building business units through investments and acquisitions.

For further information go to the Company's website, www.360entertainmentandproductions.com

SAFE HARBOR PROVISION

Matters discussed in this press release may constitute forward-looking statements. These include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, other than statements of historical facts.

The Company is including this cautionary statement in connection with this safe harbor legislation. The words "believe," "anticipate," "intend," "estimate," "forecast," "project," "plan," "potential," "will," "may," "should," "expect," "pending" and similar expressions identify forward-looking statements which are based upon assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management's examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, they are subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections.

SOURCE VGTel, Inc. dba 360 Entertainment & Productions