SOURCE: SUN Sports & Entertainment Inc.

March 21, 2008 10:16 ET

SUN Discusses New Operating Plan, Financial Restructuring, Management and Consolidation

DALLAS, TX--(Marketwire - March 21, 2008) - SUN Sports and Entertainment Inc. (PINKSHEETS: SSPE) announced today improved changes to its operating plan including a financial restructuring of debt and the placement of new equity capital. In addition, the Company reports change in management, additions to the Advisory Board, and the consolidation of operating facilities.

SUN has developed an operating plan which includes events underwritten by strategic partners and major sponsors. The Company is focused on producing its fights in venues where the financial variables are predictable and the branding of events attractive to major sponsors. The company is also negotiating contracts to broadcast its upcoming events for national exposure.

The Company has begun implementing a financial plan intended to eliminate debt and provide new equity financing. The Company will also file a Form 10 with the intent to become a fully reporting company with audited financial statements. The restructuring plan involves a new class of stock and provides the Company with the necessary capital to begin to implement its 2008 business plan.

As part of the announced changes, the Company accepted the resignation of Buckeye Epstein as President and is in the process of adding additional staff to event operations, management and marketing department. The Company added to its advisory board Steven Oshins, a highly respected Nevada Attorney and former CEO of the International Fighting Organization and Steele Cage Productions.

The Company is also making considerable progress with a number of organizations for the sale of domestic and foreign licensing rights of the "Art of War" Video Library as well as the "Steele Cage" Video Library. There is a growing demand for the DVD Distribution rights of both libraries from large retail outlets that should provide ongoing cash flow upon completion.

Effective March 1, 2008, the Company has consolidated its Corporate Offices and Warehouse facilities. The combined operations are now located at 4505 Ratliff Lane, Addison, TX, 75001. For more information please visit us at or set an appointment to visit our facilities.


SUN ( is a Professional Sports & Entertainment Production Company that produces world class Mixed Martial Arts (MMA) Events under the brand: Art of War LIVE (, The USA Men's National Team (, UNDERGROUND Cage Fighting (, Steel Cage Promotions, ( and the International Fighting Organization (IFO) a governing body for MMA in Nevada. The company also created the International Fighters Association (IFA), a non-profit based in Luxemburg that ranks, rates and sanctions professional MMA Fighters.

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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