MINNEAPOLIS--(BUSINESS WIRE)--Aug. 5, 1998--Great Spirit, Inc. (NASD BB:GSPI - news ), announces the opening of a new Indian Casino today.

The Golden Bears Casino in Klamath, California, will open this week to the public, after several private receptions in the past two weeks. The Casino, located near Crescent City, California, is owned by the Resighini Rancheria Indian Tribe of Klamath. Under terms of a finance agreement, Great Spirit has financed the construction of a 19,000 square foot casino with bingo hall, 199 slots and several table games, as well as a full restaurant and bar operation. A convenience store and gas outlet will be opened shortly. Great Spirit is to receive a normal interest rate plus thirty percent (30%) of the net operating income of the combined facilities for its finance assistance.

Bruce Nedegaard, Chairman of Great Spirit, stated: `We expect good, solid results from this Casino. It is the largest facility of its kind in Northern California. The reception we have received from local people and the press has been outstanding.`

The Company also announced last week a preliminary letter of intent for a similar financial arrangement with the Red Fox Casino and its owner, the Cahto Tribe, approximately 100 miles south of Eureka, California. Great Spirit also has a management and marketing services contract with Internet Gaming Corp., an internet gambling company based in the Commonwealth of Dominica.