SOURCE: SUN Sports & Entertainment, Inc.

October 20, 2008 09:00 ET

SUN Completes $5,000,000 Financing

DALLAS, TX--(Marketwire - October 20, 2008) - SUN Sports & Entertainment, Inc. (PINKSHEETS: SUNR) announced today it has completed a financing arrangement which could provide the Company with up to $5,000,000 in direct investment capital from The N.I.R. Group, LLC, a hedge fund that provides direct investment financing.

SUN Chairman/CEO CJ Comu stated, "The N.I.R. Group is one of the largest and most active direct investment fund managers in the USA. We have finally identified a powerful and strategic investor that could provide long term resources and financing to our organization."

Comu added, "This is the final step of an aggressive re-organization plan that started in March of this year and has involved a re-structuring of our operating plan and the launch of some new and exciting activities for SUN. We are very enthusiastic that the sport of MMA continues to increase and expect to be a dominant player in the industry. I'm proud to say that we completed this financing during one of the toughest times on Wall Street."

N.I.R. Managing Director Corey Ribotsky commented, "We like the SUN business model and are very confident that the sport of MMA is just starting to grow. We hope our investments and relationship can help the company achieve its financial forecasts."

SUN President Clyde Gentry III stated, "In the coming months, our shareholders should be looking for a lot of new and exciting changes with the Company to include an interactive web site, an entire new line of merchandise, and some dynamic concept-driven MMA Promotions. The Company has slated an aggressive production schedule for 2009 to include new strategic venue and broadcast partners."

About SUN:

SUN Sports & Entertainment, Inc. (www.sunorganization.com) is a Professional Mixed Martial Arts Event Production and Promotion Company specializing in concept-driven MMA events. SUN is a Certified and Licensed Combative Sports Promoter that produces World Class MMA Events under the brand, Art of War (www.artofwarlive.com).

About N.I.R. Group, LLC:

The N.I.R. Group, through its hedge fund, has been investing in new and developing public companies since 1999. With offices in Roslyn, New York and Charlotte, North Carolina, N.I.R. Group, LLC invests on behalf of both individuals and institutional investors. For more info please visit (www.nirgroup.com).

Safe Harbor Statement -- This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual or future results may differ materially from those anticipated depending on a variety of factors, including continued maintenance of favorable license arrangements, success of market research identifying new product opportunities, successful introduction of new products, continued product innovation, sales and earnings growth, ability to attract and retain key personnel, and general economic conditions affecting consumer spending. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. SUN Sports & Entertainment Inc. does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.

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