Stock Banger

Breaking News: WGL Entertainment Holdings (WEHI) CEO to Forgive Deferred Salary Owed of $440,000

LAKE MARY, FL–Jul 30, 2008 — WGL Entertainment Holdings, Inc. announced today that its CEO would forgive the debt owed to him by the company for deferred salary from 2006 & 2007 of $440,000. This reduction in debt will be recorded during the third quarter of 2008. The CEO will continue to defer salary in 2008 and until such time as WGL Entertainment Holdings, Inc. becomes profitable.

“This will reduce the company’s debt by 45% and significantly strengthen the balance sheet,” said Mike Pagnano, CEO WGL Entertainment Holdings, Inc. “When we acquire Stemtronics and its assets, our balance sheet and shareholder value will continue to strengthen and lead the company to a position to begin trading on fundamentals. We expect this to happen by the beginning of 2009.”

WGL Entertainment Holdings, Inc., through its subsidiary WGL Entertainment, is the producer of the “WGL Million Dollar Shootout” Reality Television Series and several other made for T.V. sports entertainment events scheduled to be produced in 2008 and beyond.

To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company’s development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made.

Contact:

For more information contact:

Michael Pagnano
WGL Entertainment Holdings, Inc.
1-407-833-7931

Source: WGL Entertainment Holdings, Inc.

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