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Stocks J / Jackpot Enterprises, Inc.


Subject:  Gilbert Global Equity invests Date:  8/3/2000  7:44 PM
Author:  Kcourt Number:  12 of 12

Jackpot, which is reinventing itself as an internet infrastructure company and a manager of technology funds, called JNet Enterprises (after shareholder approval) makes another announcement showing they are really moving in a complete new direction. Here is the article:

Gilbert Global Equity Makes Significant Investment in Jackpot and Invests in Jackpot's Internet Fund

LAS VEGAS, Aug 3, 2000 (BUSINESS WIRE) Jackpot Enterprises Inc. (J), which is being renamed J Net Enterprises Inc. pending shareholder approval, announced that Gilbert Global Equity Partners and certain affiliated entities
have committed to fund $15 million into J Net's first Internet investment fund -- J Net Ventures I LLC.

Gilbert related entities have also committed to purchase $8 million out of a total of approximately $28 million of convertible debentures of J Net. Other investors in the Fund include Global PE Holdings, Ltd., an affiliate of Alpha Inv