Summit Entertainment Approves Share Buyback Plan

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) June 10, 2005 -- HOUSTON, TX, June 10, 2005 -- Summit Entertainment Group, Inc. (Pinksheets : SETG), aspires to be a leading diversified owner and operator of multiple entertainment properties, including developments located in Las Vegas, Reno Nevada and Louisiana. SUMMIT plans to be the leading growth company in the Entertainment professional services industry as well as Casino/Entertainment operations in 2005, announces the approval of a plan to purchase, from time to time in the open market, up to 500,000 shares of the company's common stock over the next 12 months.

"Given our improved cash position and projected cash flows, we believe the implementation of a share repurchase program is an excellent means to increase value to our shareholders," stated John D. Jarvis, President of Summit Entertainment Group, Inc. "This action reflects our strong belief in the fundamental value of our management, patents, sales team, technology, and catalog of products."

Summit Entertainment Group, Inc. plans to commence the repurchase of shares immediately and will continue such repurchases from time to time in the open market at prices and times deemed to be beneficial to the long-term interests of shareholders and the Company. The timing of the purchases, the prices paid and the actual number of shares of common stock purchased will depend upon market conditions and limitations imposed by applicable federal securities laws, including the amount and timing of acquisitions. Any repurchased shares will be held as treasury stock and available for general corporate purposes.
"At current prices, we believe our stock represents an attractive investment opportunity and this plan reflects a serious commitment to improve long-term stockholder value," added Jarvis.
About Summit Entertainment Group Inc.

Headquartered in Houston, Texas, Summit Entertainment Group, Inc. (Pink Sheets:SETG) aspires to be a leading diversified owner and operator of multiple entertainment properties, including developments located in Las Vegas, Reno, Nevada and Louisiana. Summit Entertainment Group's press releases are available at the company website located at http://www.summitentgroup.com or www.knobias.com. Additional news and information on Summit can be obtained by contacting the company directly at (281) 255-9424