( BW)(NV-MEDIA-&-ENTERTAINMENT)(MEDE) Media and Entertainment.com Inc. Common Shares are Planned to Trade On a New National Bulletin Board Exchange -BBX-

Business Editors & Entertainment Writers

LAS VEGAS--(BUSINESS WIRE)--April 23, 2002--

BBX to be Operated by the Nasdaq Stock Market Inc. Following the Phasing-Out of the OTC Bulletin Board

Media and Entertainment.com Inc. (OTCBB:MEDE) ("Media and Entertainment.com Inc."), today announced it has received notice from The Nasdaq Stock Market Inc. that the Over-the-Counter Bulletin Board, in operation since June 1990, will be phased-out in 2003.
In its place will be launched, pending expected approval by the Securities and Exchange Commission (SEC), a new higher quality market, the Bulletin Board Exchange (BBX).
This move was, according to the notice, "motivated in part by the SEC rules that govern exchanges." Principal among the many anticipated improvements over the OTCBB for newly listed companies will be increasing liquidity in the market for their securities and conferring the recognition of trading on a listed market.
The BBX will have an electronic trading system to allow order negotiation and automatic execution.
This should be a major improvement over the current OTCBB system, where market participants must execute customer orders using the telephone. The BBX's new system should bring increased speed and reliability to trade executions, as well as improve the overall transparency of the marketplace.
Commenting on the notice, Roger Paglia, Media and Entertainment.com Inc. president/CEO stated: "Our very intuitive and aggressive consulting firm MCS-Group has been monitoring the development of this plan by the SEC and Nasdaq through its extensive industry contacts.
"We couldn't be more pleased to now have enough information to judge the significance of the benefits to Media and Entertainment.com Inc. of a BBX listing. Based upon the notice we received and contact with Nasdaq we have satisfied ourselves of the tremendous improvement the BBX should represent compared to our current OTCBB listing."
Jon J. Jannotta, Media and Entertainment.com Inc. executive vice president stated: "Since we first anticipated a second consecutive year of positive events and growing our strategic partnerships for Media and Entertainment.com Inc. in the year 2001, we had been planning a move to either Nasdaq Small Cap or the AMEX while concurrently anticipating the contemplated demise of the OTCBB and a new replacement market system.
"We anticipate Media and Entertainment.com Inc. meeting all other requirements for listing on the BBX exchange. Since we have been advised there will be no minimum share price requirement for a BBX listing, the BBX therefore affords Media and Entertainment.com Inc. the advantage of trading on a full electronic listed market without the need for a reverse split in order to meet the minimum share price requirement of the other two exchanges."
Jannotta concluded by stating, "We intend to file our application for the BBX immediately upon receipt."

About Media and Entertainment.com

Media and Entertainment.com is a growth-oriented multi-faceted entertainment and technology company. The company provides a fully integrated advertising, media management and communications technology, and technology products to the entertainment, motion picture, music industry and global technology market.
Media and Entertainment.com also offers broadcasters, motion picture studios and record labels the highest quality, multimedia broadcast networks at extremely competitive prices. The continued growth of its business is expected to be facilitated through further acquisitions of synergistic companies and through the formation of strategic partnerships and alliances.

About Management Consulting Services Group

MCS provides a comprehensive suite of consulting and project management services enabling companies to make the transition to the Bulletin Board Exchange (BBX). Services include: corporate administration, corporate imaging, strategic planning, financial and operational consulting, business development, business due diligence, and compliance management.

With the exception of historical information, the matters discussed in this news release are forward-looking statements that involve a number of risks and uncertainties. The actual future benefits to Media and Entertainment.com could differ from those statements.
Factors that could cause or contribute to such differences include, but are not limited to, no assurance that the SEC will approve the BBX or that Media and Entertainment.com will be successful in attaining a listing on the BBX or the BBX will offer any benefits to Media and Enteratinment.com's shareholders.