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Venture Catalyst Signs Letter of Intent to Acquire Technology Management Firm, CT Interactive Incorporated, for $2.3 Million

SAN DIEGO--(BUSINESS WIRE)--Feb. 22, 2000--Venture Catalyst Incorporated

-- Full-Service Technology Management Firm to Become Information Technology Solutions Provider for Future VCAT Santa Monica and Orange County Business Incubators.

-- CT Interactive's Services Include: Business Application Development, Network Management, Web Development and Hosting, and Hardware Sales and Service.

Venture Catalyst Incorporated (Nasdaq:VCAT - news), a full-service consultant and incubator for emerging businesses, announced today that it has signed a Letter of Intent to acquire privately-held CT Interactive Incorporated (dba Campbell Technologies Group) for $2.3 million.

Under the proposed transaction all of the privately-held stock of CT Interactive will be exchanged for $2 million in Venture Catalyst common stock and $300,000 in cash. The closing of the transaction is subject to a number of conditions including the negotiation and execution of a definitive agreement, satisfactory completion of due diligence, and approval from Venture Catalyst's board of directors and regulatory approvals.

Commenting on the motivation behind the proposed acquisition, Venture Catalyst's President, Sanjay Sabnani said, ``By adding CT Interactive to our growing portfolio of businesses we are able to serve as a one-stop services partner for both our incubator companies and clients. We can now add network management and hardware solutions to our growing list of entrepreneurial services, including information architecture, digital business design, strategic consulting, investor relations, IPO consulting, public relations, and incubation facilities.

Upon the closing, Scott Campbell, founder and president of CT Interactive, will join Venture Catalyst as Vice President, Services. Prior to founding his own company in 1997, Campbell served as a Senior IT Consultant at the Los Angeles offices of international accounting and management consulting firm, Grant Thornton LLP. Campbell has also held positions at Teledyne Systems and received a Bachelor of Arts in Economics from UCLA.

``This acquisition by Venture Catalyst is a great milestone in our company's growth. I look forward to assisting in the expansion of Venture Catalyst's technology service businesses in Santa Monica, Orange County, and throughout Southern California,' said Campbell. ``I am also pleased that we will now have the ability to provide our current clients with additional digital business capabilities through our association with, Venture Catalyst's leading Web architecture and design group. There is tremendous appeal to our customers and clients in combining our range of services with those of Venture Catalyst.'

CT Interactive ( is a full-service technology management firm, with offices in both Santa Monica and Orange County, Calif. CT Interactive provides business application development, network management, Web development and hosting, and hardware sales and service, to emerging companies as well as large corporate clients including Northrop Grumman, K-Swiss Inc., First American Financial, and Crystal Cruises. CT Interactive's unaudited calendar 1999 revenues were just under $1 million.

``High growth businesses are increasingly pressed for resources and solutions,' said Sabnani. ``Our objective is to serve as a `venture services' partner where we focus on delivering solutions that are timely and mission critical. By joining forces we can now begin to examine the possibility of building other incubators in Southern California, where we can cluster services for the benefit of entrepreneurs as we have done in our San Diego location.'

About Venture Catalyst Incorporated

Headquartered in San Diego, Calif. and with offices in Santa Monica, Venture Catalyst Incorporated ( is a full-service consulting company. Through its Venture Catalyst division, the Company serves the strategic and growth needs of private and public technology companies. Venture Catalyst Incorporated provides investor relations, public relations and marketing, strategic planning, state-of-the-art incubation facilities, as well as comprehensive Web development services through Cyberworks, Inc. (, the Company's wholly-owned subsidiary.

For more information, contact Angelyn Lechman (858-385-1000/ or Sanjay Sabnani (310-399-4059/ at Venture Catalyst.

Except for historical information contained within, this release includes certain forward-looking statements and projections, including the statements of Mr. Sabnani. These statements, which relate to the Company's intentions with respect to future operations, are based on management's belief, as well as assumptions made by, and information currently available to, management. While the Company believes that its expectations are based upon reasonable assumptions, there can be no assurances that the Company's plans, objectives and financial goals will be realized. Numerous factors (including risks and uncertainties) may affect the Company's actual results and may cause its plans and objectives to differ materially from those expressed in the forward-looking statements made by or on behalf of the Company. Some of these factors include the ability of the Company to execute its growth strategies; the success of Cyberworks' and the Venture Catalyst's businesses; and other factors detailed in the Company's Form 10-KSB, Forms 10-QSB and other reports filed pursuant to the Securities Exchange Act of 1934, as amended. In addition, with respect to any company in which Venture Catalyst makes an investment, or provides services to, there can be no assurances that such company will be successful. Numerous factors, including risks and uncertainties applicable to such companies may cause results to differ materially from those expected. Some of these factors include the ability of each of these companies to execute their respective, individual growth strategies and business plans, the acceptance by the market of the products and/or services offered by such companies and numerous other factors common to start-ups and emerging companies.
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