Sportswinbet Limited ('SportsWinBet' or the 'Company')

Trading update

Further to the announcement made by the Company on 19 November 2008 in relation to the trial of the 'Sportswinbet' branded sportsbook operation in collaboration with Kolarmy Technology Inc the board wish to provide the following update:-

The platform has operated well throughout the trial period and on that basis Sportswinbet believes that the platform is capable of being scaled up to take additional volumes of business and will seek to add to the client base during 2009.

In the accounting period to 31 December 2008 total valid bets placed on the platform were the equivalent of GBP 10,500,000. This generated income of GBP 350,000 for Sportswinbet. Notwithstanding the difficult economic environment globally, Sportswinbet now intends to grow this business and convert the existing trial to a long term collaboration later in the year.

Contact:-

www.sportswinbet.com

Liam Murray, Nominated Adviser

Dowgate Capital Advisers Limited

Telephone: +44(0)20 7492 4777