HeadsUp Entertainment International Inc.

HeadsUp Entertainment International Inc.

October 28, 2009 08:30 ET

HeadsUp Entertainment International Inc. Signs Letter of Intent to Acquire the "World Poker Showdown"

CALGARY, ALBERTA--(Marketwire - Oct. 28, 2009) -

HeadsUp Entertainment International Inc. (the "Company") (PINK SHEETS:HDUP) is pleased to announce that it has signed a letter of intent to acquire all outstanding shares of the "World Poker Showdown" as a wholly owned subsidiary. This agreement is a major step in the Company's plan to expand its business model and operations to the international marketplace.

Having spent the past 5 years consolidating and building a comprehensive media and tournament infrastructure in the Canada, HeadsUp now looks to build on the business model it has implemented on an international basis. With the launch of the Canadian Poker Tour's Players Membership Card, the upcoming launch of the Company's online poker television network and the expansion of its poker tourism and destination event business unit, the WPS acquisition positions the Company to target its products and services internationally.

The WPS, since its inception in 2002, has built land based casino relationships with casinos in Costa Rica, the Dominican Republic, the Bahamas, Panama, Peru, St. Maarten, Puerto Rico and mainland USA as well as a series of poker cruises. Having hosted over 300 international poker events, the WPS has built a player infrastructure and business model that will be able to maximize valuation through the partnership with HeadsUp. With an existing player base of over 20,000 members through its casino relationships, this market expansion will allow HeadsUp to capitalize on existing relationships with its pre-paid affinity credit card product as well as merchandise and destination poker vacation packages.

Having worked together as a strategic marketing alliance over the past year, the companies have enjoyed success at a number of events in Costa Rica, the Dominican Republic and most recently at the Hard Rock Hotel and Casino in Las Vegas in August. The acquisition allows HeadsUp to capitalize on 100% of the revenues generated from administration fees and realize economies of scale with fixed cost expenditures in advertising, television and marketing.

The WPS and the Canadian Poker Tour's next event will be held at the Jazz Casino in Jaco, Costa Rica, November 6-15th and details can be found at www.canadianpokertour.tv as well as www.worldpokershowdown.com.

About HeadsUp Entertainment International Inc.

HeadsUp Entertainment International Inc. is a global media and entertainment company engaged in the creation of branded entertainment through the development, production and marketing of televised programming based on poker and other entertainment themes. For more information see the Company's website www.headsupentertainment.com.

Forward-Looking Statements:

This news release contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. When used in this release, words such as "estimate," "expect," "anticipate," "projected," "planned," forecasted" and similar expressions are intended to identify forward-looking statements, which are, by their very nature, not guarantees of HeadsUp Entertainment International Inc.'s future operational or financial performance, and are subject to risks and uncertainties. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Due to the risks and uncertainties, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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