Playtech signs P2P deal for China

[vinism]

Playtech will distribute software through Foundation Ltd (based out of Hong Kong) to the Chinese Communist Youth League. Here's the release

Contract Signed with Foundation Group Ltd

07 March 2007

Playtech Ltd
(“Playtech” or “the Company”)

Contract signed with Foundation Group Ltd

Agreement to supply P2P Gaming in China


Further to Playtech’s previous announcement with reference to early stage negotiations with a pure Asian-facing gaming business, the Company is pleased to announce today that it has signed a contract with Foundation Group Limited (“Foundation Ltd”) to supply Peer to Peer (P2P) gaming software within China.

Foundation Ltd is a listed company in Hong Kong and is a new venture, whose subsidiary, has recently signed licensing agreements with an operating arm of the Communist Youth League (CYL). CYL is responsible for the implementation of China’s ‘Green Internet Policy” so as to provide duly licensed play for cash prizes P2P tournament games via internet cafés situated throughout China.

Foundation Ltd is currently undertaking a fund raising exercise. Further details of the company’s plans are therefore restricted at this stage. It is intended that Playtech will give a further update regarding this contract sometime later this month.

This is the second contract that Playtech has signed to supply the Chinese market in the past three months and the first nationwide contract of this nature.

Avigur Zmora, Chief Executive Officer of Playtech, commented today:

"Although Foundation Ltd is in the very early stages of its development, its potential is very exciting for Playtech and we look forward to working closely with Foundation to develop this potential.”


- ends -

For Further Information:

Avigur Zmora, CEO, Playtech Ltd
c/o Bell Pottinger Tel: +44 20 7861 3232
www.playtech.com

Peter Otero / David Rydell / Amy Rajendran
Bell Pottinger Corporate & Financial Tel:+44 20 7861 3232

[codename]

Playtech is THE online gambling software company that truly understands the Asian market and HOW TO PLAY in this promising and lucrative market. Add to that their consolidation moves in the Western hemisphere, wow, this company has very good potential!

I bet their next announcement will be a similarly fashioned deal in... Japan!

[WinYourWayKyle]

Playtech is definatelty taking a step in the right direction to try and weave away from the North American market. Allthough Canada still has a market, the amount of players in the Asian markets are much larger.... Good for them.

[xihexi]

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