29-06-2006 Ubet2win announces final audited results for the year ended 31 December 2005

The company, which was established in September 2004 with the objective of setting up an on-course betting service, acquired 8 betting 'pitches' in the UK in 2004 and a further 11 'pitches' in Ireland in 2005. In August 2005, Ubet2win raised funds via a share placing which have been used at the beginning of 2006 to establish a more traditional telephone betting service as well as to develop an online betting service.

Ubet2win reported an operating loss of £270,000 on a total turnover of £927,000 for the year to 31 December 2005, which& was very much a start up period for the company. On-course trading was Ubet2win's only source of income and the results reflect the difficulties on-course bookmakers have had to live with during 2005.

Although there are signs that the situation is improving, Ubet2win looks now at expanding the online poker and sportsbook websites launched respectively in January and April 2006, while the on-course betting facilities will continue to be operated at the major racecourses as this gives the Ubet2win brand a high profile presence and an opportunity to market the company's online services.