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Saybrook Capital majority partner buys United Hockey League franchise

Lake ST. Louis, MO--- May 20, 2003:

The United Hockey League (UHL) announced Tuesday that the league's Board of Governors has awarded a member club to Richmond, Virginia. The new team will be owned by Saybrook Capital's majority shareholder Glenn Morelli and hockey franchise veteran Dr. Eric Margenau and will play at the Richmond Coliseum for the upcoming 2003-04 season.

Richmond joins the UHL as the 12th member club, and second expansion team, for the league's 13th season.

"We are extremely pleased and excited to bring hockey back to Richmond. The UHL and Dr. Margenau have a great track record and we look forward to many successful seasons," said Larry Wilson, General Manager for the Richmond Coliseum's management group, SMG/Johnson, Inc.

Glenn Morelli enters his first year as owner of the Richmond RiverDogs. Mr. Morelli brings his entrepreneurial management experience and his passion for hockey to Richmond. Morelli has promised to do everything in his power to instill a sense of pride and passion to the RiverDogs fans and to bring the Colonial Cup to Richmond. Mr. Morelli has accumulated over 26 years experience in all aspects of the music and entertainment merchandising business including manufacturing, wholesale, retail, warehousing, fulfillment, raising capital, and real estate acquisition and management

The Richmond Coliseum is in the final planning stages of a 32 million dollar expansion that will enhance the fan experience at the Coliseum for all events. Planned improvements include: the addition of new Luxury Suite Boxes and Club Seats including an exclusive Lounge, renovation and expansion of restrooms, refurbishment of seating in the arena, renovation and expansion of concession areas and improved concourse lighting.

"With their dedicated fans, Richmond remains a fantastic hockey city and is an excellent addition to the UHL. We look forward to an exciting and prosperous season," stated Richard Brosal, UHL President / CEO.

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