Excapsa Software Inc
13 October 2006
FOR IMMEDIATE RELEASE 13 October 2006
Excapsa Software Inc.
('Excapsa' or the 'Company')
STATEMENT RE PRESS COMMENTARY
Excapsa Software Inc. (AIM: XCP) notes the commentary in today's UK press which
refers to the sale of Excapsa's assets and the source of the deferred revenue to
be received in accordance with the sale.
On 12 October 2006, Excapsa announced the sale of all the Company's assets
consisting of its software, gaming network and related intellectual property to
Blast Off Limited, a Maltese based, privately owned company for US$130 million.
The press commentary stated that the sale was a disposal of 'its US-facing
operations'. The sale is not a limited disposal of certain assets. Instead, the
Company's entire operating subsidiaries have been sold, and the Company no
longer has an operating business.
The Company would also note that as part of the disposal, the deferred portion
of the purchase price is not permitted to be paid from revenues derived from the
United States. The Company finally notes that, prior to the sale, its royalties
derived from customers from outside the United States were more than sufficient
to pay the deferred instalments.
The Company is exiting the Internet gaming software licensing business in its
entirety.
For more information please contact:
Excapsa Software +1 416 640 1556
Jim Ryan, Chief Executive Officer Ext: 5100
Gail Gleed, Finance Director Ext: 5102
Melissa Gaddis, Director, Investor Relations Ext: 5116
Buchanan Communications +44 (0) 207 466 5000
Charles Ryland/Suzanne Brocks
This information is provided by RNS
The company news service from the London Stock Exchange
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