Exhibit 99

JAGUAR  INVESTMENTS  ANNOUNCES INTENT TO ACQUIRE 100% OF SHARES  OUTSTANDING FOR
PREMIER SPORTS MEDIA AND ENTERTAINMENT GROUP, INC.

SCOTTSDALE,    Ariz.--(BUSINESS    WIRE)--May   25,   2001--Jaguar   Investments
(OTCBB:JGUR)  announced today that it has executed a Letter of Intent to acquire
100%  of  the  issued  and  outstanding  shares  of  Premier  Sports  Media  and
Entertainment Group, Inc.

The Business of Premier

Based in New York,  NY,  Premier  Sports  Media and  Entertainment  Group,  Inc.
("Premier")  is a privately  owned sports media and  entertainment  company that
commenced operations in 2001. Its mission to grow through acquisition and create
an enterprise that  encompasses a diversified  business mix that complements its
existing properties and creates a fresh, relevant sports media and entertainment
conglomerate.

Premier's  initial  phase-in of its  business  model was the  completion  of its
acquisitions of Explosion Promotions,  Inc. ("Explosion") and CNB Entertainment,
LLC  ("CNBE").  Explosion  is  a  boxing  promotion  company  that  produces  an
award-winning   boxing  talk  show.   CNBE  is  an   enterprise   that  services
entertainment  properties  by  providing  a full  palette of  support  including
capital acquisition,  project development and entertainment property management.
As wholly owned subsidiaries of Premier,  Explosion and CNBE combine to create a
perfect synergy that contributes to each other and to the Company's newly formed
business, Premier Publications, Inc.

This  publication  division will produce  Commemorative  Magazine  Editions that
center on the  unique  viewpoint  of  sports  and  entertainment  icons and will
utilize  their  legendary  status  to  create  publications  that are  instantly
collector's   items.   Premier's   personal   relationships   and   professional
affiliations  will be one of the  cornerstones  to  building a network of sports
media and  entertainment  personalities  that will enhance the  marketability of
Premier's properties and fuel the growth of its core businesses.

Terms of the Agreement.

The total consideration payable to Premier shareholders will be 1,000,000 shares
of  Jaguar's  common  stock  in  exchange  for  100%  of  Premier's  issued  and
outstanding  shares.  Jaguar  currently  has  11,310,000  shares of common stock
issued and outstanding.

Although the Letter of Intent is non-binding, the parties intend to negotiate in
good  faith  with  the  view to  executing  a  definitive  agreement  as soon as
practicable.  It is expected that the definitive  agreement will contain various
conditions  precedent to the closing of the transaction,  including that Premier
have raised at least $3,000,000 through the private placement of its securities.
The closing of the transaction is expected to occur on or before August 1, 2001.

There can be no assurance that a definitive  agreement will be executed or, even
if executed, that the conditions precedent to closing will be fulfilled, nor can
there be any assurance that if the  acquisition  of Premier is not  consummated,
Jaguar  will be able to  identify  any  other  suitable  acquisition  candidate,
investment or opportunity, or consummate any other transaction.

This release  contains  forward-looking  statements  regarding future events and
developments  affecting the businesses of Jaguar  Investments,  Inc. and Premier
Sports Media and Entertainment  Group,  Inc. These statements  involve known and
unknown  risks,  uncertainties  or other  factors,  not under the control of the
companies,  that may affect actual results,  performance,  achievements or other
expectations expressed or implied by these forward-looking statement.

CONTACT: Jaguar Investments, Inc., Scottsdale          Ian W. Rice, 480/945-2232