I'm in today at .104.

NEW YORK, Mar 23, 2004 (BUSINESS WIRE) -- Penthouse International (OTCBB:PHSL), a diversified holding company with operating subsidiaries in adult entertainment and real estate, announced today that its newly formed subsidiary, Media Billing LLC, has acquired from InterCept, Inc. (Nasdaq:ICPT), 100% of the equity of Internet Billing Company LLC. ("iBill"). The transaction, valued at approximately $23.5 million, included a $20.0 million assumption by Penthouse of certain obligations relating to iBill. Penthouse's majority shareholder, and an affiliate of a major U.S. insurance company have provided financial backing in connection with the transaction.

iBill is a leading e-commerce company focused on enabling businesses to market and sell their products over the Internet, including online subscriptions. iBill also manages all back-office functions including reporting, tracking, customer service and sales transactions. Its services are powered by technology that integrates online payment processing, fraud control, affiliate management and financial reporting and tracking.

Over the last five years, iBill has successfully processed over $2.0 billion in online subscriptions representing tens of millions of consumer transactions. iBill believes that thousands of iBill clients have demonstrated that the Internet is an efficient sales distribution channel for entertainment content. Founded in 1997, iBill has been cash flow positive for the past five years, and has positioned itself as one of the more profitable e-commerce business models born from the dot-com era.

Through its General Media, Inc. and related subsidiaries, Penthouse is a brand-driven global entertainment business founded in 1965 by Robert C. Guccione. General Media's flagship PENTHOUSE brand is one of the most recognized consumer brands in the world and is widely identified with premium entertainment for adult audiences. General Media caters to men's interests through various trademarked publications, movies, the Internet, location-based live entertainment clubs and consumer product licenses. General Media licenses the PENTHOUSE trademarks to third parties worldwide in exchange for recurring royalty payments.

According to an independent consulting firm, consumers will make a purchase decision up to 400% more often with a trusted brand name, as opposed to unbranded products and services. As such, branded services command a significant premium over unbranded products and services. As a traditional media company, Penthouse has historically relied upon printed publications and magazine subscriptions. With its acquisition of iBill, Penthouse believes that numerous economic synergies will exist between iBill and its media companies, including the ability to offer iBill clients access to the PENTHOUSE brands and, at the same time, generate new sources of recurring revenue for Penthouse.

According to Claude Bertin, Executive Vice President of Penthouse: "Our clients will have access to a range of new branded services designed specifically to make their online businesses more profitable. We believe there is no more potent online combination for adult entertainment than iBill and Penthouse."

After the iBill transaction, Penthouse International has four operating subsidiaries, including PH Realty Associates LLC which completed in February 2004 a $24.0 million placement of 7.5% Notes and the related acquisition of the New York City Guccione mansion. General Media, a subsidiary of Penthouse, and subsidiaries of General Media are currently debtors in a bankruptcy case pending in the United States Bankruptcy Court for the Southern District of New York. On March 4, 2004, Penthouse filed its proposed first amended and restated plan of reorganization to be financed primarily through debt and equity financing to be provided by its principal stockholder, affiliates of Dr. Luis Enrique Fernando Molina G., as well as an institutional investor. Penthouse has disclosed in excess of $116 million in financing commitments in recent weeks.

"Penthouse and iBill have my fullest support," said Dr. Molina.

iBill was acquired from Intercept, Inc. (Nasdaq:ICPT), which divested of the iBill division as part of a plan to focus on its core business of outsourced technology solutions to community banks.

Safe Harbor: This release contains statements relating to future results of the Company (including certain projections and business trends) that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. This release contains statements relating to future results of the Company (including certain projections and business trends) that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including, but not limited to, the fact that no assurances can be given that the First Amended Plan of Reorganization will be confirmed, or that it will enhance the Company's competitive position, as well as other risks and uncertainties detailed from time to time in the filings of the Company with the Securities and Exchange Commission. On August 12, 2003, General Media and its direct and indirect subsidiaries (the Debtors) filed voluntary petitions for relief under Chapter 11 of Title 11 of the United States Code in the United States Bankruptcy Court for the Southern District of New York. Penthouse International, Inc. owns 99.5% of the capital stock of General Media. Penthouse did not file for protection under the Bankruptcy Code and its activities are not subject to Bankruptcy Court supervision. For additional information, reference is made to publicly available documents filed with the bankruptcy court to determine the most current status of all matters related to the bankruptcy case of General Media. The website of the Bankruptcy Court is http://www.nysb.uscourts.gov.

SOURCE: Penthouse International

Penthouse International, New York
Media Contact:
Claude Bertin, 212-702-6000
or
Investor Relations:
Tom Biggs, 386-409-0200

PHSL completes private placement.

dz

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Originally posted by denzen:
.159 and good volume!

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dz

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Originally posted by sick money:
I am with you, any idea on why the nice pop today? I only wish I had more.

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NEW YORK--(BUSINESS WIRE)--PHSL--
Penthouse International (OTCBB:PHSL), a diversified
holding company with operating subsidiaries in adult entertainment,
Internet transaction processing and real estate, announced here today
that on March 31, 2004, Penthouse and Dr. Luis Enrique Fernando
Molina, its principal stockholder, have entered into an agreement to
acquire 75% of the outstanding Class A preferred stock of General
Media, Inc., a 99.5% owned subsidiary of Penthouse. Closing of the
purchase of the General Media preferred stock is scheduled to occur on
or before April 15, 2004.
General Media and its subsidiaries are currently debtors in a
bankruptcy case pending in the United States Bankruptcy Court for the
Southern District of New York. On March 3, 2004, Penthouse filed its
proposed first amended and restated plan of reorganization to be
financed primarily through senior debt financing from affiliates of
Post Advisory Group and equity financing to be provided by Dr. Molina
or his affiliates. The holders of the General Media preferred stock,
who also own approximately 89% of the approximately $46.0 million
outstanding amount of General Media 15% senior secured notes due 2004,
had originally objected to the Penthouse plan, and proposed a
competing plan of reorganization that, if confirmed by the Bankruptcy
Court, would have caused Penthouse to lose ownership of General Media.
Under the terms of the March 31 agreement, Dr. Molina and
Penthouse have agreed to purchase the General Media preferred stock
from the sellers for approximately $10.25 million, payable on March
31, 2008 under an 8% increasing rate note given by Dr. Molina and
guaranteed by Penthouse. The note is secured by a pledge of the Series
C convertible preferred stock of Penthouse held by an affiliate of Dr.
Molina. Under the terms of the agreement, the sellers and their
affiliates, including Marc Bell, have agreed to waive all objections
to and support the Penthouse proposed plan of reorganization and
withdraw their competing plan.
Claude Bertin, Executive Vice President of Penthouse said, "This
transaction paves the way and significantly enhances the ability of
Penthouse and Dr. Molina to obtain confirmation of our plan of
reorganization, which we believe will benefit all classes of creditors
of General Media."
General Media and its subsidiaries is a brand-driven global
entertainment business founded in 1965 by Robert C. Guccione. General
Media's flagship PENTHOUSE brand is one of the most recognized
consumer brands in the world and is widely identified with premium
entertainment for adult audiences. General Media caters to men's
interests through various trademarked publications, movies, the
Internet, location-based live entertainment clubs and consumer product
licenses. General Media licenses the PENTHOUSE trademarks to third
parties worldwide in exchange for recurring royalty payments.
In addition, on March 22, 2004, Penthouse acquired Internet
Billing Company, LLC. iBill is a leading e-commerce company focused on
enabling businesses to market and sell their products over the
Internet, including online subscriptions. iBill also manages all
back-office functions including reporting, tracking, customer service
and sales transactions. Its services are powered by technology that
integrates online payment processing, fraud control, affiliate
management and financial reporting and tracking. Over the last five
years, iBill has successfully processed over $2.0 billion in online
subscriptions representing tens of millions of consumer transactions.
iBill was acquired from Intercept, Inc. (Nasdaq:ICPT), which divested
of the iBill division as part of a plan to focus on its core business
of outsourced technology solutions to community banks.

Safe Harbor: This release contains statements relating to future
results of the Company (including certain projections and business
trends) that are "forward-looking statements" as defined in the
Private Securities Litigation Reform Act of 1995. This release
contains statements relating to future results of the Company
(including certain projections and business trends) that are
"forward-looking statements" as defined in the Private Securities
Litigation Reform Act of 1995. Actual results may differ materially
from those projected as a result of certain risks and uncertainties,
including, but not limited to, the fact that no assurances can be
given that the First Amended Plan of Reorganization will be confirmed,
or that it will enhance the Company's competitive position, as well as
other risks and uncertainties detailed from time to time in the
filings of the Company with the Securities and Exchange Commission. On
August 12, 2003, General Media and its direct and indirect
subsidiaries (the Debtors) filed voluntary petitions for relief under
Chapter 11 of Title 11 of the United States Code in the United States
Bankruptcy Court for the Southern District of New York. Penthouse
International, Inc. owns 99.5% of the capital stock of General Media.
Penthouse did not file for protection under the Bankruptcy Code and
its activities are not subject to Bankruptcy Court supervision. For
additional information, reference is made to publicly available
documents filed with the bankruptcy court to determine the most
current status of all matters related to the bankruptcy case of
General Media. The website of the Bankruptcy Court is www.nysb.uscourts.gov.

KEYWORD: NEW YORK
INDUSTRY KEYWORD: PUBLISHING ADVERTISING/MARKETING ADVERTISING/MARKETING ENTERTAINMENT MARKETING AGREEMENTS
SOURCE: Penthouse International