Phantom Entertainment Inks $1.3 Million Funding Agreement for Phantom(R) Wireless Lapboard Launch

    PORT CHESTER, N.Y., July 10 /PRNewswire-FirstCall/ -- Phantom(R)
 Entertainment, Inc. (OTC Pink Sheets:   PHEI) announced today that it has
 signed a $1.3 million loan agreement with European Investors LINLEY
 Management S.A.
     "This operating loan gives the Company immediate funding to manufacture
 the Phantom(R) Wireless Lapboard and to launch marketing and sales in the
 Fourth Quarter of this year," noted Greg Koler, Phantom Entertainment's CEO
 and President. "This funding will allow the Company to manufacture product
 lines this year with our partners Alienware and IONE Technologies."
     "The Company will pursue other applications for the Phantom Lapboard
 including new digital media centers being developed by companies like Intel
 and Gateway," Koler said. "We are currently working with distributors, VAR
 resellers and e-tailers in the U.S, Europe and Asia to initiate marketing,
 sales and distribution of the Phantom Lapboard."
     "Phantom Entertainment is an attractive investment for digital media
 investors in new consumer products and services," explained a spokesperson
 of European Investors LINLEY Management S.A. "Our funding is based on the
 Company's success in securing a licensing agreement with Ione Technology
 Inc. to manufacture and distribute the Phantom Wireless Lapboard and
 Phantom Wireless Laser Mouse under Ione's brand name throughout Asia and
 the Company's agreement to manufacture the Phantom Wireless Lapboard for
 Alienware's Media Centers," the spokesperson of LINLEY Management said.
     Under terms of the financing, the Company will receive a $1,300,000
 operating loan immediately to support manufacturing, marketing, sales and
 distribution of the Phantom(R) Wireless Lapboard and Phantom(R) Wireless
 Mouse in the U.S. Europe and Asia.
     About Phantom Entertainment
     Phantom Entertainment is a global entertainment and interactive game
 company. Phantom Entertainment has developed and is marketing the
 Phantom(R) Wireless Lapboard, a combination wireless keyboard, laser mouse
 and hard surface that enables users to work or play games from any
 comfortable setting. For more information, please visit
 http://www.phantom.net.
     PR contact:
     pr@phantom.net
     Safe Harbor Statement
     The Private Securities Litigation Reform Act of 1995 provides a "safe
 harbor" for forward-looking statements. Certain of the statements contained
 herein, which are not historical facts, are forward-looking statements with
 respect to events, the occurrence of which involved risks and
 uncertainties. These forward-looking statements may be impacted, either
 positively or negatively, by various factors. Information concerning
 potential factors that could affect the Company is detailed from time to
 time in the Company's reports filed with the Securities and Exchange
 Commission.
 
 

SOURCE Phantom Entertainment, Inc.

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