Exhibit 99


FOR IMMEDIATE RELEASE            Investor Contact:
                                 Martha Lindeman  312-751-8000 x2430

                                 Media Contact:
                                 Rebecca Theim  312-751-8000 x2445


                          PLAYBOY ENTERPRISES, INC. AND
                       SPICE ENTERTAINMENT COMPANIES, INC.
                        SET CLOSING DATE FOR ACQUISITION


Chicago, March 8, 1999 -- Playboy Enterprises, Inc. (PLA - NYSE) and Spice
Entertainment Companies, Inc. (SPZE - NASDAQ) today announced that they have
scheduled the closing of Playboy's acquisition of Spice for Monday, March 15,
1999. Playboy signed a credit agreement on February 26th to provide the
financing necessary to close the Spice acquisition. Playboy will issue in the
aggregate between 1,980,000 and 2,055,000 shares of Playboy Class B Common
Stock, depending upon decisions to be made by holders of options to acquire
Spice stock. Of these shares, approximately 173,800 will be issued to Spice and
will be included among the assets being transferred to Directrix, Inc., the
common stock of which is being distributed to stockholders of Spice as part of
the consideration for the merger. The remaining shares of Playboy Class B Common
Stock will be issued to the Spice stockholders in partial exchange for their
shares of Spice. Playboy and Spice expect that all closing conditions will be
met by March 15, 1999.

                                       ***

Playboy Enterprises, Inc. is an international multimedia entertainment company
that publishes editions of PLAYBOY magazine around the globe; creates
programming for Playboy TV networks and home video distribution around the
world; operates a direct marketing business, including CRITICS' CHOICE VIDEO,
COLLECTORS' CHOICE MUSIC, PLAYBOY and SPICE catalogs and Web sites; markets
Playboy-branded consumer products sold worldwide; operates Playboy Online, which
includes the PLAYBOY.COM and PLAYBOY CYBER CLUB Web sites; and plans to open the
Playboy Casino & Beach Hotel on the Greek island of Rhodes.

Spice Entertainment Companies, Inc. is a leading provider of adult television
entertainment throughout the world.

                                        9