Excapsa Software Inc.

Excapsa Software Inc.

August 16, 2006 12:51 ET

Excapsa Software Inc.: Notification of Common Share Repurchase Plan

TORONTO, ONTARIO--(CCNMatthews - Aug. 16, 2006) - Excapsa Software Inc. (AIM:XCP), which develops, maintains and markets real time internet enabled gaming software and manages the Excapsa Gaming Network, announces today the adoption of a share repurchase plan. This plan authorizes the Company to make market purchases of up to 5% of the common shares currently outstanding, during the 12 month period commencing on August 22, 2006 and ending on August 21, 2007.

The share repurchase plan does not require Excapsa to repurchase shares. Any purchases will be made in the normal course in the open market and all common shares purchased will be immediately cancelled. Any purchases will be announced to the market as soon as possible after they have occurred and in any event by no later than 7.30am on the business day following purchase.

This plan was adopted as Excapsa and its Directors believe that the recent trading prices of the Company's common shares do not reflect their underlying value given Excapsa's earnings and strong balance sheet.

Notes To Editors:

Excapsa (AIM:XCP) is a leading online gaming software developer which develops, maintains and markets multi-player, real time, Internet enabled gaming software and manages the Excapsa Gaming Network. Through Excapsa's wholly-owned subsidiary, Game Theory Limited, the network licensee brands include UltimateBet.com, UltimatePoker.com, CardPlayerPoker.com, Bet21.com, UpperClassPoker.com, DevilfishPoker.com, MagicPalacePoker.com, GreentiePoker.com, DV8Poker.com, and NationalLampoonPoker.com.

Contact Information

  • Buchanan Communications
    Charles Ryland/Suzanne Brocks/Amy Rajendran
    0207 466 5000
    Excapsa Software Inc.
    Melissa Gaddis
    +1 (416) 640-1556 ext 5116