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Non-Tech : PSCKF - Playstar Corporation -- Ignore unavailable to you. Want to Upgrade?

To: Jeff Broughton who wrote (64)	1/26/1999 9:45:00 PM
From: Mags	Read Replies (2) \| Respond to of 330

Here is the news that everybody has been waiting for, just plucked it off of their webt site at playstar.com For Immediate Release January 26, 1998 For Immediate Release Playstar Wyoming Holding Corporation St. John's Antigua - - Playstar Wyoming Holding Corporation (OTC BB: PCSKF) is pleased to announce the signing of a definitive agreement with Cyberstation St. Kitts Ltd. The agreement calls for the creation of a wholly owned subsidiary, the primary business of which will be electronic Internet credit card transaction processing. At this time the company also announces a complete reorganization in its management. Mr. Julius Patta (and related parties) are no longer associated with the company or its affiliates. The company has entered into an exclusive agreement with Cyberstation St. Kitts to manage the business of Playstar and its subsidiaries -concentrating on the enormous potential presented by electronic commerce solutions, but still being fully aware of the continuing opportunities in Internet gaming. To that end Joseph Alves, President of Cyberstation St. Kitts said, " I am excited about the prospect of taking over Playstar and re-focusing the company's business opportunities into the area of Internet global transaction processing. "Moreover," said Alves, "It is clear that Cyberstation brings a second generation of casino gaming back office Software and systems management that will allow Playstar to have the most well rounded casino gaming sites on the Net. I am very anxious to explore the many licensing opportunities that currently exist in the on-line gaming market." The Principles of Cyberstation St. Kitts are Joseph Alves and Alicia da Conceicao. Joseph Alves A leading authority on Internet and computer management systems and design for over 10 years. Mr. Alves has a comprehensive business and technical background. Amongst many high profile clients, Mr. Alves includes the Japanese External Trade Organization and several large mutual fund and marketing companies. Over the last 3 years he has developed an extensive network of banking and e commerce relationships and is considered to be the one of the most definitive authorities in those fields. Alicia da Conceicao A leading experts in advanced cryptography, Alicia's formal background has been in the area of advanced mathematics, and computer modelling. Alicia has been developing and implementing E-commerce systems and solutions for many high profile clients for over 4 years, and has been involved in Internet development for over 14 years. Mr. Bill Tucker, Chairman of the Board of Playstar said, " I am absolutely delighted at this acquisition as Cyberstation's technology now puts us at the leading edge of Internet credit card processing. Both Joseph Alves and his partner Alicia da Conceicao bring tremendous practical experience to the field and it is my firm belief that their combination of strong banking ties together with one of the most robust technologies in the field bodes very well for our future." According to International Data Corporation, the market for Internet transaction processing is projected to increase from $200 billion today to $1 trillion dollars by 2002. It is the company's conviction that because of its position in the market it will be profitable from the very beginning of the relationship. The company's 2048 bit encryption technology provides perhaps the most secure encrypted link between the merchants and transaction servers available today and will most certainly solve the challenges in the months and years ahead. To this end, management has adopted a strategy that will create several marketing teams that will deal with different industry segments. In the adult industry, for example there is a substantial need for a reliable solution for its credit card processing problems and the Cyberstation solution addresses the needs not only of this huge market segment, but of all retail online businesses. Trade shows have been booked for the coming year in order to give the company's products appropriate global distribution. The company has reserved booths at several electronic commerce trade shows and will be present in Toronto, New York, Los Angeles and in Israel. The company recently unveiled its technology at the Interactive 2000 trade show in Las Vegas and received an overwhelming response from some of the industry's largest players. Cyberstation's "Cash Engine" technology effectively automates the credit card process, in as much as it allows the merchant and customer smooth and quick processing of credit card transactions. Currently, many Internet credit card transactions are conducted manually and often require phone calls to the appropriate credit card provider for customer approval or the use of operators on veriphone terminals. Cash Engine's software eliminates any manual input and allows for transactions to be conducted live in a timely, efficient and secure fashion. The software also allows for a detailed analysis of customer trends and spending habits to be observed by the merchant. It automatically rejects transactions if the credit card used is either stolen, fraudulent, expired, and etc., and "trains" the customer to use the card in a responsible manner. An additional and important merchant tool, is the software's ability to provide a built-in, comprehensive accounting package, which allows for accurate and efficient online book-keeping and business management. Furthermore, the software has the capability of monitoring merchant's advertising campaigns by "watching" business activity geographically. The technology has been designed to be completely portable. While there are those customers who will require individual attention to specific detail, the technology is designed so that is may be used for any kind of Internet retail activity. The software is robust, live and extremely secure and allows for multiple simultaneous credit card transactions from anywhere in the world and at any time. There are few, if any, Internet related companies that can forecast profits from inception. Management has developed those strategic alliances, both in banking and software, that will allow this new direction to be cash flow positive almost immediately. Management believes that the first year will produce profits beyond those normally associated with Internet related companies. Contact: Peter Miller (416)408-4108 *The statements in this press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act of 1934 and are subject to the safe harbor created by these sections. Actual results may differ materially from Playstar's expectations. - 30 -