Skyline Multimedia Entertainment, Inc. Comments on Recent Trading Activity NEW YORK, April 1 /PRNewswire-FirstCall/ -- Skyline Multimedia Entertainment, Inc. (BULLETIN BOARD: SKYL) ("Skyline"), today announced that it has cometo its attention that there has been increased activity in the level of volume of trading of its common stock as well as an increase in the market price. Michael Leeb, the President of Skyline, commented, "we are not aware of any reason as to the cause of this recent activity. As stated in our previous filings with the U.S. Securities and Exchange Commission, we have experienced significant losses in recent years and have substantial negative working capital and a substantial capital deficiency. In addition, since a substantial portion of the working capital deficiency is comprised of notes payable that are due currently, we are dependent upon the continued forbearance of our principal creditors in not demanding payment of the outstanding indebtedness." As a result, Skyline's financial statements have been prepared assuming that Skyline will continue as a going concern. Management of Skyline cautions investors that there have been no recent developments in connection with Skyline's operationsnor does Skyline have any plans or arrangements to enter into any type of acquisition or transaction that may warrant such trading activity. Skyline, through its wholly-owned subsidiary, New York Skyline, Inc., operates the New York Skyride, a state-of-the-art simulator attraction located in the Empire State Building in New York, New York. This press release contains certain forward-looking statements, including those regarding Skyline Multimedia Entertainment, Inc. and its subsidiaries' expectations, intentions, strategies and beliefs pertaining to future performance. All statements contained herein are based upon information available to Skyline's management as of the date hereof, and actual results may vary based upon future events, both within and without Autocarbon management's control. DATASOURCE: Skyline Multimedia Entertainment, Inc. CONTACT: Michael Leeb, President of Skyline Multimedia Entertainment, Inc., +1-212-299-4902, fax, +1-212-299-4932, Web site: http://www.skyride.com/

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