FORT LAUDERDALE, Fla., Aug. 18 /PRNewswire/ -- Madison Sports 
&  Entertainment Group, Inc. (Nasdaq Bulletin Board: MSET) a 
publicly held  company traded on Nasdaq, has signed a letter of 
intent to acquire the  assets of Staple Snowboards, Inc., a 
manufacturer of snowboards,  bindings and accessories 
headquartered in Canada. 

    "This addition to our already existing Bizzaare Snowboards  
subsidiary gives Madison a foothold in one of the fastest growing 
sports  in the United States -- snowboarding," stated Jack Drury, 
President of  Madison.  "Sales in the snowboard industry were over 
$750 million last  year with a projection of $1.5 billion by the end of 
the decade,  according to a recent article in Forbes magazine," Drury 
said. 

    Staple was founded in 1993 and offers a full range of snowboards,  
snowboard bindings and related accessories marketed primarily 
under the  "Staple" brand name.  The products are sold worldwide 
with the majority  being sold in North America. 

    "Madison has become a more diversified company in the last 6 
months,  therefore our wholly owned subsidiaries will complement 
Staple with  sales assistance outside North America, a tie-in with our 
sports  clothing subsidiary, marketing advice and special event 
support," stated  Drury. 

    Madison, with subsidiary offices in New York, New Jersey, San 
Diego,  Newport Beach (CA) and Florida, "plans to focus in on the 
exciting  extremes sports arena, with other acquisitions planned for 
the near  future," stated Drury.  "Over the last 6 to 9 months the 'New 
Madison'  has put together the people, the subsidiaries and the 
financing in order  to make these kinds of acquisitions complement 
the company's business  plan," he concluded. 

    The contemplated transactions are contingent upon satisfactory  
completion of Madison's due diligence review of Staple. 

    Madison is a five-year-old corporation that owns outright, or has a  
percentage ownership in companies operating in the sports and  
entertainment fields, computer security and the import/export  
businesses.  In the sports industry, Madison sells products and  
services, manages and/or represents athletes, and develops and 
creates  sporting experiences in the areas of extreme sports such as 
snowboarding  and in-line skating. In the entertainment industry, 
Madison develops  and/or owns videos and television shows, has or 
seeks the distribution  rights to entertainment products, and 
manages and/or represents  entertainers. 

CO:  Madison Sport & Entertainment, Inc.; Staple Snowboards, Inc. 

ST:  Florida 

IN:  ENT LEI 

SU: