VGTel, Inc. dba 360 Entertainment & Productions Sees a Reduction in Excess of $375,000 in Accounts Payable in the Second Quarter of 2012 after Initial Review of Liabilities

NEW YORK, Sept. 11, 2012

Company CEO Peter Shafran explained, "We've been diligently working to place our Company on more solid financial ground as we support the extensive development of our new business. We are currently reviewing, with our legal counsel, a number of items which we believe will lead to a reduction in liabilities. We are confident that through these measures and through our aggressive moves into the digital raffles and sweepstakes gaming industry in those venues and states where allowed by regulation, we will be able to achieve our growth targets and build a profitable future for our company and its stockholders."

About 360 Entertainment & Productions
360 Entertainment & Productions is devoted to creating a multi-platform media company offering products in the digital raffles and sweepstakes gaming industries. In addition, 360 Entertainment & Productions is seeking other opportunities in the rapidly growing digital gaming industry in those venues and states where allowed by regulation. Our business outlook is based on a strategy of growing and building business units through investments and acquisitions.

For further information visit www.360entertainmentandproductions.com.

Safe Harbor Statement

The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking information made on the company's behalf.  All statements, other than statements of historical facts, which address the company's expectations of sources of capital or which express the company's expectation for the future with respect to financial performance or operating strategies can be identified as forward-looking statements.  Such statements made by the company are based on knowledge of the environment in which it operates, but because of the possibility of unknown factors, as well as other factors beyond the control of the company, actual results may differ materially from the expectations expressed in the forward-looking statement.  An investment in our common stock involves a significant degree of risk.  You should not invest in our common stock unless you can afford to lose your entire investment.  You should consider carefully all risk factors and other information in our annual report and quarterly filings before deciding to invest in our common stock.  If any of the following risks and uncertainties develops into actual events, our business, financial condition or results of operations could be materially adversely affected and you could lose your entire investment in our company.

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