SUN Sports and Entertainment Inc. Trading Suspension Lifted

Company to Add Two Additional Directors, Engage Independent CPA Firm, Move
Office and File Financial Statements in Effort to Renew Listing on Pinksheets
OKLAHOMA CITY--(Business Wire)--
SUN Sports & Entertainment Inc. (OTC: SUNR), a Mixed Martial Arts (MMA) event
promotion company, announced today that the 10-day trading suspension imposed on
the Company last month on October 21, 2009, has expired.

Last Friday, Bruce Scambler, a Company Director and spokesman, said, "We have
provided FINRA and the SEC with the information requested and I`m happy to
report that the suspension has been lifted, however the Company will trade on
Grey Market until we file the appropriate application with FINRA for relisting
on Pinksheets. In the interim we have continued to take strategic steps to
further our plan of restructuring to transform the Company into a sports and
entertainment holding company, as announced in our September 14, 2009, Press
Release. We now have two new Directors who have agreed to join me on the Board,
Mr. Fred Graves Luke and Mr. Donald Lake, neither of whom has had any prior
involvement with the Company or business relationships with any of the former
officers and Directors of the Company, and we intend to engage the independent
CPA firm to prepare unaudited 2008 and 2009 financial statements in accordance
with GAAP before posting them with Pinksheets.

"We`ve have reserved the names and hope this month to incorporate and capitalize
SUN Sports Inc., SUN Entertainment Inc. and SUN Investment & Finance Inc., each
to be wholly-owned by SUN Sports and Entertainment Inc.," said Mr. Scambler.
"The SUN Sports Inc. subsidiary, once the Sports Promotion License can be
transferred, will attempt to resume its Mixed Martial Arts promotion activities,
SUN Entertainment Inc. will hold the Company`s Film Library and Trademarks and
pursue Licensing opportunities, and the SUN Investment & Finance Inc. subsidiary
will initially focus on action sports investments and financing opportunities."

According to Mr. Scambler, the formation of the SUN Holdings Inc. subsidiary,
intended to serve as the vehicle for the Company`s planned expansion of its
Mixed Martial Arts fight promotion activities into foreign markets, is on hold.
"Going into foreign markets at this time, with everything else that we are
dealing with right now, is premature," said Mr. Scambler. "Our immediate
attention needs to be on the completion of updated financial statements, the
re-listing on the Pinksheets and the relocation of its new subsidiary in
organization, SUN Sports Inc., in the Dallas area, and the Company and the other
subsidiaries in organization, to new offices in Nevada, California and here in
Oklahoma. In the interim SUN Sports and Entertainment Inc. will continue to
maintain its principal office at 1300 N. Penn. Avenue, Suite 150, Oklahoma City,
Oklahoma 73120."

Commenting on the recent suspension of trading in the Company`s stock, Mr.
Scambler said, "The apparent reason for the 10-day suspension seems to the
result of increased public interest and trading in the Company`s stock following
announcements made over the last twelve months. I also believe that certain
events over the last year relating to litigation and disputes involving the
Company, which could have an adverse impact on the Company`s financial
condition, need to be addressed now to put an end to the rumors and possible
investor confusion. First, last July, the Company did not get its expected
dismissal of the 2008 lawsuit between the Company, as Defendant, and Mr. Buckeye
Epstein, as Plaintiff, over a $16,000 Employment Agreement dispute as it was
continued is now set for Trial in February 2010. Secondly, the Company is
currently attempting to settle a $500,000 loan made to the Company related to
the Art of War 3 - USA vs. Brazil fight. Lastly, there are two recent disputes
which do not yet involve the Company in litigation: first, a Notice to Vacate
issued to the Lessee of the office space in Addison, Texas, which the Company
formerly sub-leased as its principal office, and secondly, a recent dispute with
a private equity investment firm over an agreement which allegedly closed in
November 2008, resulting in the Company issuing shares of its Series A
Convertible Preferred Stock and $1,450,000 of 14% Convertible Promissory Notes
in exchange for a $5,000,000 equity investment which the Company never
received."

Commenting further Mr. Scambler said, "In addition, the Company may have an
issue relating to an agreement with Dish Network for the purpose of
re-broadcasting the Company`s Film Library using its wholly-owned subsidiary,
Sports Radio Event Network, Inc., which may now have to be terminated unless
Sports Radio can obtain the necessary working capital. And, as a point of
clarification, in the September 14, 2009 press release the firm of Tatum LLC was
reported as being `terminated` when it actually resigned from its engagement for
lack of payment.

"As previously stated in the September 14, 2009 press release, our restructuring
plan is very ambitious," said Mr. Scambler, "but achievable provided we have the
support of our vendors and lenders, and the required working capital financing.
To date however we have not been able to attract sufficient working capital to
pursue the whole of our planned activities as aggressively as we had hoped. As a
result I would like to forewarn those who may be considering buying the
Company`s shares in the future: an investment in the Company`s shares at this
point in time must be considered highly speculative."

Safe Harbor Statement -- This release includes forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the
Securities Act of 1934. Statements contained in this release that are not
historical facts may be deemed to be forward-looking statements. Investors are
cautioned that forward-looking statements are inherently uncertain. Actual
performance and results may differ materially from that projected or suggested
herein due to certain risks and uncertainties including, without limitation,
ability to obtain financing and regulatory and shareholder approvals for
anticipated actions. Such statements are based on management's current
expectations and are subject to certain factors, risks and uncertainties that
may cause actual results, events and performance to differ materially from those
referred to or implied by such statements. SUN Sports and Entertainment Inc.
does not intend to update any of the forward-looking statements after the date
of this release to conform these statements to actual results or to changes in
its expectations, except as may be required by law.

SUN Sports & Entertainment Inc.
Mr. Bruce Scambler, 405-608-2700
Fax: 405-848-3666
bruce@sunorganization.com
www.artofwarlive.com
www.sunorganization.com

Copyright Business Wire 2009