Cyper Entertainment Announces Co-Venture Production Partner

Business Wire, August 22, 2003

Business Editors

NEW YORK--(BUSINESS WIRE)--Aug. 21, 2003

Cyper and Joongang Signs Agreement to Do Marketing, Production,

Merchandising and Japanese Affairs

Forward Stock Split Record Date August 21, 2003

Cyper Entertainment Inc., ("Cyper") subsidiary of JRE, Inc. (OTC-Bulletin Board: JREN - News), is pleased to announce new animation partner Joongang Movie Entertainment co., Ltd. ("Joongang") to co-venture on several animation productions.

Additionally, Cyper and Joongang have signed an agreement for both companies co-market current and future projects.

Joongang has been in the 2D animation field for 13 years. They have worked on over 60 different OEM Japanese TV shows such as Dragon Ball, Pocket Monsters (Pokemon), Gundam, Cowboy Bebop, and Neon Genesis Evangelion.

Cyper is a 3D Digital Animation Production company with its own proprietary productions and provides services to the television, commercial and film industries globally. The Company develops and produces 3D digital animation for television, short films, CGI feature films, music videos and multi-media applications such as video games.

JRE, Inc. is in process to change its name to Cyper Media, Inc.

The company will affect a 2 for 1 forward stock split. The record date for the 2 for 1 forward split is August 21, 2003 and the effective date for mailing is August 22, 2003.

Cyper's website is www.cypermedia.com.

All forward-looking statements contained herein are deemed by the company to be covered by and to qualify for the safe harbor protection provided by the private securities litigation reform act of 1995 (the "1995 act"). Shareholders and prospective shareholders should understand that several factors govern whether any forward-looking statement contained herein will be or can be achieved, any one of those factors could cause actual results to differ materially from those projected herein. These forward-looking statements include plans and objectives of management for future operation, including plans and objectives relating to the products and the future economic performance of the company. Assumptions relating to the foregoing involve judgments with respect to, among other things, future economy, competitive and market conditions, future business decisions, and the time and money required to successfully complete development projects, all of which are difficult or impossible to predict accurately and many of which are beyond the control of the company. Although the company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of those assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in any of the forward-looking statements contained herein will be realized. Based on actual experience and business developments, the impact of which may cause the company to alter its marketing, capital expenditure plans or other budgets, which may in turn affect the company's results of operations in light of the significant uncertainties inherent in the forward-looking statement included herein, the inclusion of any such statement should not be regarded as a representation by the company or any other person that the objective or plans of the company will be achieved.