ESCONDIDO, Calif., Aug. 10, 2005 (PRIMEZONE) -- Long Road Entertainment, Inc. (Pink Sheets:LREN), a company focused on developing modern drive-in movie theaters, announced today that they have signed an option agreement to acquire a company currently developing a drive-in theater project in the high desert of Southern California.
"It is our goal to build multiple modern drive-in movie theaters in Southern California and this is a positive step to achieving that goal quickly," says Bob Stinson, President and CEO of Long Road Entertainment.
The development team of Long Road Entertainment believes the high desert of Southern California is a perfect location for a drive-in. It is an area of rapid growth, affordable land and the demographics are ideal, as there is a high concentration of families. With housing prices so high in the large urban areas, families are being forced to look for more affordable housing in areas like the high desert that are within commuting distance.
Families are the core audience of the modern drive-in theater. Drive-ins provide an affordable night out for the whole family due to their pricing structure -- two movies for the price of one and children under the age of 13 get in free. Long Road plans to further attract families by providing a large picnic and play area, a large arcade and periodic promotional events.
Long Road Entertainment, "LREN" has been established to operate as a holding company for companies that are involved in the theater, motion picture and entertainment industry. Specifically, LREN plans to capitalize on its management teams' 43 years of experience in the building and operating of drive-in movie theaters to reintroduce North American movie goers to a modern drive-in theater experience.
For more information contact: crescentfund@crescentfund.com
Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. The Company intends that such forward-looking statements involve risks and uncertainties and are subject to change at any time, and the Company's actual results could differ materially from expected results. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.