Creator Capital Limited
OTC Bulletin Board : CTORF

Creator Capital Limited

November 22, 2006 18:42 ET

Creator Capital-ETV Channels on Demand Acquisition Does Not Close

HAMILTON, BERMUDA--(CCNMatthews - Nov. 22, 2006) - CREATOR CAPITAL LIMITED (OTCBB:CTORF) ("CCL" or the "Company") announces that the Share Purchase Agreement signed with ETV International Inc. (a Panama Corporation), for the acquisition of all the outstanding shares of ETV Channels on Demand Inc. (a Panama Corporation)/ETV on Demand, has not completed and will not close. ETV International did not fulfill the obligations required under the terms of the share purchase agreement. As a result, all earn-out shares designated as a part of this agreement will not be issued. All options relating to the ETV Channels on Demand/ETV on Demand acquisition, issued March 2006 are cancelled. CCL has never had any agreement nor any affiliation with ETV, Inc. (a California Corporation) or any other corporation with the word ETV included as a part of its name, other than those listed above.

Recent technological advances, which allow for cost effective IP video delivery of content to mobile devices, have caused CCL to expand its business strategy beyond the airline environment to include delivery of entertainment content to all manner of mobile devices.

CCL continues to pursue opportunities that are synergistic with the Company's core business of delivering interactive entertainment software.


Creator Capital Ltd.,, a Bermuda exempted company, along with Harrah's Entertainment Inc., introduced the in-flight interactive gaming experience to international airline passengers as a method of creating additional revenues for airlines in 1998. In addition to providing interactive in-flight gaming entertainment software and services, CCL is expanding its services to include international entertainment and sports content for broadband television over the internet.


Deborah Fortescue-Merrin, President

Safe Harbour statements under the Private Securities Litigation Reform Act of 1995;

Certain statements in this document constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, and Section 21B of the Securities Exchange Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Creator Capital Limited ("the Company"), or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its plan of operations when needed; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission, which are available for review at

Contact Information