10/31/2006- Feature Film Zafiros Locura Azul

[Franko10 ™]

October 31, 2006

Fuego Entertainment to License the Feature Film Zafiros Locura Azul

MIAMI, Oct. 31, 2006 -- Fuego Entertainment, Inc. (OTC Bulletin Board: FUGO) today announced that it has entered into a formal agreement to license the feature film Zafiros Locura Azul from the Company’s CEO, Hugo M. Cancio. Zafiros Locura Azul, meaning Sapphire Blue Madness in Spanish, is a feature film produced by Hugo M. Cancio and filmed in Cuba. The film depicts the story of Los Zafiros, a Cuban vocal quartet in the 1960’s.

“Cuban music was forever changed when Los Zafiros appeared on the scene. Los Zafiros featured polyphonic vocals that packed Havana’s clubs and gained popularity on Cuban television and radio. I originally produced this film as a tribute to my father, Miguel Cancio, the founder of Zafiros Locura Azul and the only surviving member,” said Hugo M. Cancio, CEO of Fuego Entertainment. “The story is told through recreations of their appearances and use of actual footage. Their innovative vocalizations drove them to the top of the charts and their high-energy dance movements put Los Zafiros into the history books.”

Under the arrangement, Fuego Entertainment will receive royalties of 75% on the gross revenue generated from the film’s distribution for a 10-year period. The Company has acquired the rights to worldwide distribution in all formats, including theatrical, home video/DVD, television, and soundtrack. The film has never been commercially released but has won many international film festival awards, including the Audience Award in 1997 at the Havana Film Festival.

With stations in Las Vegas and Puerto Rico, Fuego Entertainment, Inc. is a media and entertainment company primarily engaged in the television broadcasting of Spanish-speaking programming on its US television network, FuegoTV. The Company also produces filmed content and manages a music record label, Fuego Entertainment Music International (FEMI), with seven Latin artists. For more information, please visit Fuego’s website at www.fuegoentertainment.net.

This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief, or current expectations of Fuego Entertainment, Inc., members of their management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

CONTACT: Fuego Entertainment, Inc., Dan York, Investor Relations, 214 675-2531, [e-mail]