LAKE MARY, FL–(EMWNews – July 23, 2008) – WGL Entertainment Holdings, Inc. (PINKSHEETS: WEHI) announced today that it has continued with its common stock

repurchase program. As of today, over 600 million shares have been

repurchased. We plan on buying back up to 1.5 billion shares of the 2

billion shares outstanding. In addition, the acquisition of Stemtronics, a

stem cell research company who owns several major patents in the stem cell

treatment market, is on track to close within the next 20 days. The “WGL

Million Dollar Shootout” (MDSO) continues to air on the CSS network and

plans for a national airing are still on course. The MDSO will also begin

airing in September in five European countries including the United

Kingdom, Germany, France, Italy and Spain.

“We continue to make progress on several fronts, along with the Stemtronics

acquisition, we are looking at two additional acquisitions to broaden our

portfolio and diversification of WGL Entertainment Holdings, Inc. We

continue to move forward on the retirement of our two convertible

debentures and to become fully reporting and up to date on all required SEC

filings within the next 75 days. The second half of 2008 will be an

exciting period for WGL Entertainment Holdings, Inc. and its shareholders,”

said Mike Pagnano, CEO, WGL Entertainment Holdings, Inc. “Thanks to all of

our shareholders for their patience and continued support.”

WGL Entertainment Holdings, Inc., through its subsidiary WGL Entertainment,

is the producer of the “WGL Million Dollar Shootout” Reality Television

Series and several other made for T.V. sports entertainment events

scheduled to be produced in 2008 and beyond.

To the extent that statements in this press release are not strictly

historical, including statements as to revenue projections, business

strategy, outlook, objectives, future milestones, plans, intentions, goals,

future financial conditions, future collaboration agreements, the success

of the Company’s development, events conditioned on stockholder or other

approval, or otherwise as to future events, such statements are

forward-looking, and are made pursuant to the safe harbor provisions of the

Private Securities Litigation Reform Act of 1995. The forward-looking

statements contained in this release are subject to certain risks and

uncertainties that could cause actual results to differ materially from the

statements made.