News: 1998-08.05-REC-Earnings

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(All figures are for '98 season vs. '97 season)

Southern California Faire:

increased its revenues by 5%
paid attendance was up 16.7%
net profit was up l5O% (wow!)

Virginia Faire:

10.6% increase in revenues paid attendance increased by nearly 7% net profit: UNREPORTED!

----Original Message Follows---- News Published By: PR Newswire

Headline: Renaissance Entertainment Reports Increased Revenue for Its
Southern California Faire

BOULDER, Colo., Aug. 5 /PRNewswire/ -- Renaissance Entertainment Corporation (NASDAQ:FAIR) today announced that its Southern California Faire, which ran from April 25 - June 21, increased its revenues by 5% over its 1997 season. Paid attendance was up 16.7%. Net profit for the l998 season was up l5O% over last year. The faire is held in Glen Helen Regional Park near Los Angeles.

The Company's Virginia Renaissance Faire, which ran April 25 - June 7, reported a 10.6% increase in revenues for 1998 as compared to the previous season. Paid attendance increased by nearly 7% in 1998.

"The success of these faires is directly attributable to the continual refinement of our operations -- financial, marketing, and production. We are confident that our Virginia faire will be increasingly successful as it matures. We look forward to the rest of this faire season," stated Charles Leavell, Chairman and CEO.

The Company's Bristol Renaissance Faire opened June 27, and its Northern California Faire opened on July 25. The New York Renaissance Faire opens its gates August 1.

The Company will release its second quarter results in approximately two weeks.

Renaissance Entertainment Corporation is the only publicly traded company in the Renaissance Faire industry. The company's Faires currently serve five of the largest metro areas in the country including New York, Chicago/Milwaukee, Los Angeles, San Francisco, and the greater Washington, D.C./Richmond area.

The Renaissance Faire is an outdoor family entertainment event which romanticizes the ambiance of a Renaissance era marketplace and includes craft shops, period food, dancers, jousters, musicians and historical characters from Elizabethan England.

SOURCE Renaissance Entertainment Corporation

-0- 08/05/98 /CONTACT: Gloria Constantin of Renaissance Entertainment, 303-664-0300, x225, or

/Web site:

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