iEntertainment Stockholders Meeting and Proxy December 2003

Results of iEntertainment Network stockholder meeting held by proxy vote.

Cary, North Carolina (PRWEB) December 20, 2003 --iEntertainment Network Inc., an online and retail game publisher announced that it had held a Stockholders meeting by Proxy vote and approved issues for 2004.

For 2004, Mr. John Stealey and Mr. Dave Kestel were voted to serve on the Board of Directors. The Company sadly announces that Mr. Joseph McClelland, an IENT Board member for over 4 years, passed away recently due to illness. Mr. McClelland was a dedicated and active Board member and friend of the Company. He will be missed.

Mr. McClellands replacement on the Board of Directors will be appointed early in 2004.

The shareholders voted for four major issues.

1)   IENT expects to raise additional funding in 2004. In preparation for that funding the stockholders voted to increase the authorized shares to 200 million from the current 50 million authorized.
2)   IENT stockholders also voted to retain current Board members.
3)   IENT stockholders voted to have a 1 for 3 reverse split at the discretion of the current Board of Directors.
4)   IENT stockholders also approved a new stock option plan for key employees not to exceed 10% of outstanding shares.

Positive events in 2003 include:

1)   The launch of IENTs first Asian licensed game, Helbreath from Siementech Ltd. The game has been in successful operation since January 2003.
2)   The launch of IENTs History Channel Battle of Britain 1940 with Activision Value in October 2003.
3)   The licensing of a second Asian game, SavageEden from Nako Interactive in September 2003 and its expected North American launch in December 2003.
4)   The continuing improvement of the Companys Falcon development engine and improvements in the Companys primary online game, WarBirds III. The Company has put out five major upgrades to the game during 2003.

For 2004 the Company will try to accomplish the following objectives.

1)   Continued licensing of Asian games for operation in the United States. The Company has two games under evaluation at this time. The Company expects to add at least two major Asian products to its online game portal during 2004.
2)   Continued improvement in the Companys Falcon development engine including moving the engine to the major video game platforms.
3)   Continued improvement in the Companys primary product WarBirds III.
4)   Launch of an internal Company game in September 2004 for either the PC or a video game platform to be determined.
5)   Licensing of the Company products to major Publishers for worldwide distribution.
6)   Commence licensing the Company's Internet gaming patent. We believe many, if not most, online or Internet games violate our patent and we intend to vigorously exploit this important asset in the upcoming year.
7)   Make an effort to return to the OTC BB market during the second half of 2004.
8)   Continue to improve the Companys balance sheet by retiring old debts to previous creditors.
9)   Grow the Companys revenue by the launch of new games and new marketing initiatives.

Questions on these announcements can be directed to the Investor Relations department at IENT at InvestorRelations@ient.com,
###
CEO, Mr. John Stealey at JWStealey@ient.com or the General Manager, Mr. Phillip Hall at phall@ient.com.

For more information on iEntertainments online games go to
http://www.totalsims.com/
http://www.IamGame.com
http://www.HelbreathUSA.com
http://www.SavageEden.com
http://www.IENT.com

   
About iEntertainment Network
iEntertainment Network, Inc. (www.IENT.com) is a leading provider of online entertainment communities and publisher of online and retail games. WarBirds, IENTs premiere massively multiplayer flight simulation software, has won numerous awards around the world for Best Online Simulation Game" and attracts players from over 70 countries. A more complete description of WarBirds III and all of IENTs games can be found at http://www.TotalSims.com/. IENTs also owns a very important Internet patent for online gaming. The Patent, Number: 6,042,477, Minimizing Latency Technology can be found at IENTs corporate website at PATENT.