Skyline Multimedia Entertainment, Inc. Announces Co-Marketing Pact With Internet's InfoSpace.com; Deal Marks Theme Entertainment Company's Expansion Into Tour Industry Services

Business Wire, Sept 4, 1998

NEW YORK--(BUSINESS WIRE)--Sept. 4, 1998--Skyline Multimedia Entertainment, Inc. (NASDAQ: SKYL) today announced that it has entered into an exclusive co-marketing agreement with Redmond, Washington-based InfoSpace.com, a leading aggregator and integrator of content services that it syndicates to a broad network of affiliates, including existing and emerging Internet portals, destination sites and suppliers of PCs and other Internet access devices, such as cellular phones, pagers, screen phones, television set-top boxes, online kiosks and personal digital assistants.

According to Skyline's Co-Chief Executive Officer Jay Berkman, recently hired to spearhead the Company's marketing and business development strategies, "This is a tremendously important deal for us, and marks the first of several strategic alliances that we plan to announce in the weeks and months ahead. Our arrangement with InfoSpace is particularly exciting, as it is intended to serve as the foundation for Skyline's immediate expansion into providing a broad range of both Web-related and location-based tour and travel services catering to individuals and groups that visit our attraction at The Empire State Building." Added Pedro Mata, Skyline's Director for Multimedia Marketing and Electronic Commerce, "Throughout the course of planning with InfoSpace's CEO Naveen Jain, we have remained focused on developing cross-promotional models that incorporate a mix of brand enhancement and revenue producing components. As this plan unfolds, we believe that InfoSpace's presence on the Internet, combined with Skyline's unique physical presence within The Empire State Building and Times Square, two of the world's most visited tourist locations, will generate significant additional traffic and related revenue for each of our respective "sites."

InfoSpace.com focuses on content with broad appeal, such as yellow pages and white pages, maps, classified advertisements, real-time stock quotes, information on local businesses and events, weather forecasts and horoscopes. By aggregating content from multiple sources and integrating it with related content to increase its usefulness, the company serves as a single source of value-added content.

InfoSpace.com's affiliates include AOL (NYSE:AOL), Netscape (Nasdaq:"NSCP"), Microsoft (Nasdaq:"MSFT"), Lycos (NASDAQ:"LCOS"), go2net Inc.'s MetaCrawler (Nasdaq:"GNET"), Playboy (NYSE:"PLA"), Dow Jones (The Wall Street Journal Interactive Edition), AT&T Wireless (NYSE:"T"), ABC LocalNet (NYSE:"DIS"), CBS's affiliated TV stations (NYSE:"CBS"), Acer America, Gateway 2000, Pixel (Packard Bell NEC), SkyTel, Infogear, Mitel, Mitsui, Lucent, American Interactive Media, @Home, @World, Lucent, On command, Planetweb, Source Media, King Kiosk platform, Lexitech kiosk platform, Novatel, Sega and Bandai. Through its relationships with WolfeTech Corp. and Unwired Planet Inc., InfoSpace directories will be available on cellular phones and pagers from Motorola Inc. (NYSE:"MOT").

Headquartered in New York, Skyline Multimedia Entertainment, Inc. is a holding company engaged in the global development and operation of next generation entertainment facilities. New York Skyline, Inc., a wholly-owned subsidiary, owns and operates the "New York Skyride", a multi-million dollar flight simulator attraction located in The Empire State Building, New York City's number one tourist attraction, which last year hosted close to four million visitors. New York Skyride is located on the second floor of The Empire State Building and consists of a duplex motion simulator theater and adjoining theme store that provides a virtual and "zany" tour of the New York metropolitan area. The Company's second property is Skyline Virtual Reality, Inc., which owns and operates "XS New York", a 22,000 square foot Virtual Reality eventertainment center and corporate party facility located in the heart of Times Square and houses New York's single largest laser tag battle field. During 1997, more than one million people visited the company's attractions.

CONTACT: Jay Berkman or Steven Schwartz

(212) 564-2224 / www.skylinenyc.com