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FOR IMMEDIATE RELEASE
CONTACTS
Press:
Jean Lombard, The Jean Effect
415.752.1222
jean@thejeaneffect.com

Maui Aloha Investment Fund LLC:
David Fradin, Pacific Management Partners
408.741.0974
dfradin@mauialohafund.com

Plan Submissions:
David Fisher, Director, Hawaii Small Business Development Center
808.875.2402
dfisher@maui.com

Maui Aloha Investment Fund LLC Announces
Open Call For Entries to the
Hawaii International Video Game Development Competition

First of Several Initiatives Driven by Newly-Formed Investment Fund
to Attract Technology Companies and Talent to Hawaii


Maui, Hawaii, March 18, 2002 -- The Maui Aloha Investment Fund LLC, a seed-level investment fund created to attract new and existing technology companies to Maui, announced today that it is holding an open call for business plans to develop major-platform-based video games suitable for mainstream consumer retail sales. The Hawaii International Video Game Development Competition is the first of several initiatives by the Maui Aloha Investment Fund LLC (www.mauialohafund.com).

The call for entries for the Hawaii International Video Game Development Competition begins March 18, 2002; the deadline for entries is May 15, 2002. Five winning submissions will be selected by June 15, 2002. Winners will be awarded assistance and support to complete the game plan, recruit and staff a development team, and secure a publishing contract. In exchange for a funding contract, winning entrants will be required to develop the game software in Maui, leveraging on-island resources and professionals. In addition, winners will appear on a future edition of the PBS TV show "Computer Chronicles".

"Based on 1999, 2000 and 2001 video game sales and video game console shipments from Microsoft, Sony and Nintendo, which have risen consistently and significantly, we expect major new sales of video games in the Christmas 2002 and 2003 seasons," said Ken Coleman, Maui Aloha Investment Fund LLC advisor and Acclaim board member.

According to a research report released by NPDFunworld, the U.S. video game industry generated $4.3 billion in revenue in the first nine months of 2001, up 34 percent from the same period a year earlier, largely driven by sales of the Sony Playstation. In addition, sales by number of units for game hardware, software and accessories rose 12 percent for the first nine months of 2001. Moreover, the organization forecasted that the launch of Microsoft's Xbox and Nintendo's GameCube would likely surpass 1999's record $6.1 billion in U.S. revenue. (Source: Reuters, November 14, 2001, http://news.com.com/2100-1040-276050.html?legacy=cnet)

"The Hawaii International Video Game Development Competition meets the objectives of the Maui Aloha Investment Fund LLC, because the competition will bring high tech resources and high tech managerial experience to Maui's graphic arts, programming and video development community, to help create high tech business and career opportunities," said David Fradin, co-founder of the Maui Aloha Investment Fund LP. In addition, costs in the game development should qualify for the new State of Hawaii tax incentives -- the unprecedented initiatives enacted in June 2001 to encourage high-tech jobs and high-tech corporate development.

About the Hawaii International Video Game Development Competition
Plans should include a description of the concept, game play mechanics, technical feasibility, authors' capabilities and experience, and a development plan. For additional details about the competition please visit www.mauialohafund.com/game.asp.

Entrants will submit plans to David Fisher, director of the Maui office of the Hawaii Small Business Development Center (SBDC) Network at 808-875-2402 or through http://www.hawaii-sbdc.org.

About the Maui Aloha Investment Fund LLC
The Maui Aloha Investment Fund LLC, formed in 2001, is a seed-level investment fund created to attract new and existing technology companies to Maui, Hawaii For more information about the Fund, please visit www.mauialohafund.com.


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