SOURCE: Gottaplay Interactive

May 03, 2007 09:00 ET

Gottaplay Interactive Completes Second Round Financing and Integration of GamerShare Trading Platform

Proceeds Will Be Used for Aggressive Growth Plan

GIG HARBOR, WA -- (MARKET WIRE) -- May 3, 2007 -- Gottaplay Interactive, Inc. (OTCBB: GTAP) announced today it has closed a second round financing of $2,285,000 in addition to $1,277,863 raised in the last quarter of 2006 for an aggregate of $3,485,000. From February 23, 2007 through April 4, 2007 the Company sold a total of 1,828,000 units to 26 accredited investors for $1.25 per unit. The proceeds of the combined offerings will be used to finance the company's plan for continued aggressive growth.

Each unit consists of: a) one share of common stock; b) one warrant to purchase one share of Gottaplay common stock at a purchase price of $1.50 per share for a period of two years; and, c) one warrant to purchase one share of Gottaplay common stock at a purchase price of $2.50 for a period of 3 years.

"We are putting our money right where our growing user base wants it," said Gottaplay CEO John Gorst. "We are adding new content and services and new distribution centers -- all to improve the subscriber experience."

Gottaplay also announced it has completed the operational integration of the recently acquired GamerShare trading platform. The Company has just begun marketing the trading platform to its current user base as well as to the universe of video gamers. Gottaplay will encourage new rental customers as well as existing customers to set up a trading account and explore its newly created platform.

"Gottaplay is becoming the destination for all gamers who want to rent, buy, trade, and connect with other gamers who share the same interests. Even in its early stages, the trading platform is drawing new members and increasing the time members stay on the site," added Gorst.

About Gottaplay Interactive, Inc.

Gottaplay Interactive is a leading online gaming rental company. It features free home delivery and unlimited access to an extensive gaming library for a flat monthly fee. No due dates, No late fees -- it is simple, economical and convenient. Game titles are delivered via mail from multiple distribution centers established throughout the continental U.S. Gottaplay is also a premier online peer-to-peer (P2P) destination for trading video games. The service offers an alternative way to play all of the video games a gamer wants through an interactive trading platform. Members can legally trade and swap video games in the most cost-effective way with no limits or rental subscription. For more information, please visit Gottaplay at www.gottaplay.com.

Forward-Looking Statements

Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. These risks, assumptions and uncertainties include: the ability to complete systems within currently estimated time frames and budgets; the ability to compete effectively in a rapidly evolving and price competitive marketplace; changes in the nature of telecommunications regulation in the United States and other countries; changes in business strategy; the successful integration of newly acquired businesses; the impact of technological change; and other risks referenced from time to time in the Company's filings with the Securities and Exchange Commission.

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