STARNET ANNOUNCES THREE ADDITIONAL SOFTEC LICENSING AGREEMENTS FOR INTERNET GAMING SYSTEM
Wilmington, DE, February 16, 1999 - Starnet Communications International Inc. (OTC Bulletin Board: SNMM) (“Starnet”) is pleased to announce that it has signed three additional licensing agreements for its Internet gaming technology. The three new licensees, White Hall Enterprises Inc. (“White Hall”), K.N.O.T. Investments Inc. (“KNOT”), and BBF International Gaming Antigua Ltd. (“BBF”), are all based in Antigua.
Each new licensee will be supplied with a customized, multilingual full-service Internet gaming system, including virtual Casino games, a Sportsbook with real-time odds fed from Las Vegas and Europe, and simulcast horse and dog racing (no wagers taken at this time). The licensees' customers will be able to place wagers via a secure online financial transaction system. The Internet gaming technology is licensed through Starnet's wholly owned subsidiary, Softec Systems Caribbean Inc. (“Softec”).
The three new operators have chosen and specified new web sites (Universal Resource Locator's) where they will be implementing the Softec system. It is anticipated that the White Hall (http://www.worldgamescasino.com), KNOT (http://www.worldwidegamble.com), and BBF (http://www.titaniccasino.com ) web sites will be live in several weeks.
Grant Johnson, Starnet's Vice-President Corporate Development commented “I am very pleased with the progress our Softec subsidiary has made. This wholly owned subsidiary of Starnet's was formed just over one year ago and is already recognized as a world's leading supplier of Internet gaming technology and solutions. Having these three new licensees join our existing group solidifies our position as THE preferred supplier of on-line casino systems.” Starnet has entered into licensing agreements with eighteen independent operators.
$10 billion US will be gambled online by the year 2002 (DataMonitor, 06/98). Forbes magazine has described Starnet as “the Microsoft of casino software vendors.”
Starnet is an Internet software, technology and service company, which commercializes on-line applications for established markets. For more information, please visit www.snmm.com
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical fact are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays in testing and evaluation of products and other risks detailed from time to time in Starnet's fillings with the Securities & Exchange Commission.
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