SOURCE: HealthSport, Inc.

April 27, 2007 10:36 ET

HealthSport Raises Over $3 Million in Fixed Price Private Placement

Former NFL Stars Bruce Smith, Bernie Kosar and Jim Kelly Are Among Investors

AMHERST, NY and WOODLAND HILLS, CA -- (MARKET WIRE) -- April 27, 2007 -- HealthSport, Inc. (OTCBB: HSPO), a developer and marketer of branded nutritional supplements in a one-of-a-kind edible film strip delivery system, announced today it has raised approximately $3 million through a private placement of its shares of common stock. Under the terms of the placement, HealthSport sold approximately 2 million shares of common stock at a fixed price of $1.50. The shares underlying the placement carry registration rights calling for the filing of an SB-2 on or before June 1, 2008.

HealthSport is the developer and marketer of the edible Enlyten™ SportStrips™ (http://enlytenstrips.com/). Enlyten SportStrips replace the electrolytes the body loses while exercising through buccal (cheek to gum) absorption. This mode of absorption is very different than all electrolyte delivery predecessors. Gastric absorption is bypassed and the electrolytes needed are directly absorbed into the body. Additionally, this will help to avoid the over-hydration that often accompanies the excessive consumption of sports drinks.

Healthsport has recently announced that women's soccer legend and two-time Olympic Medalist Brandi Chastain, as well as Jason Taylor, the Miami Dolphins Defensive End and the Associated Press NFL Defensive Player of the Year, have become spokespersons for Enlyten Sportstrips. Additionally, HealthSport signed a multi-year deal with the NFL Buffalo Bills, whose players will be integrating the Enlyten Sportstrips into their training programs, and will leverage the Bills' own brand to generate national awareness for Enlyten's electrolyte delivery technology.

Investors in the financing include former NFL stars Bruce Smith, Bernie Kosar and Jim Kelly

Commenting on the announcement, Bruce Smith, an eleven-time all pro defensive lineman for the Buffalo Bills, commented, "Since retiring from the NFL, I have had to work hard to stay in shape and stay healthy. Enlyten SportStrips have been a great addition to my daily workout. You can have the strongest workout ethic known to man -- but if you don't keep yourself hydrated and your electrolytes replenished, you will not maximize your body's strength and endurance. Enlyten SportStrips are easy to use and replenish electrolytes quickly -- that is an advantage to any athlete. I am truly excited to be part of this venture."

Bernie Kosar, former star quarterback for the Cleveland Browns, stated, "When I first learned of the opportunity to invest in HealthSport, I could see that this Company had a vision of where it wanted to go and how to get there. This was an opportunity I could not pass up and I am very proud to be part of HealthSport. With the launch of its first product, the Enlyten SportStrips, athletes will be able to easily and effectively replenish themselves without the risk of over-hydration. I give them to my kids during their games -- they taste great, the kids love them and they have no sugar. As a parent, that's important to me."

Jim Kelly, a five-time all pro and star quarterback of the Buffalo Bills and a spokesman for HealthSport, commented, "I am very proud to be a part of the Enlyten Team. The Enlyten SportStrips are a very valuable tool for any athlete, and I am excited to be an investor and to promote this product and all of its benefits. Enlyten SportStrips prevent cramping and fatigue without having to over-hydrate with fluids. I wish these strips had been available when I played in the NFL, especially during training camp. Even now, when playing basketball or working out, I can really feel the difference. This may be the best investment I will ever make."

HealthSport President, Daniel Kelly, commented, "We appreciate the confidence that these three NFL icons have put in HealthSport and our revolutionary product, Enlyten SportStrips. We are receiving substantial interest from wholesale and retail outlets for our edible strip product line and anticipate a steady growth in market penetration throughout 2007."

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About HealthSport, Inc.

HealthSport (http://www.healthsportinc.com/) is focused on the development and marketing of branded nutritional supplements in a one-of-a-kind edible film strip delivery system. The Company's Enlyten Sports Strips™, a thin film electrolyte strip, has recently undergone and completed pre-launch trials. The trials, conducted in conjunction with physicians and scientists at Duke University Sports Medicine & The Michael J. Krzyzewski Human Performance Laboratory ("K Lab"), involved athletes from various disciplines at the intercollegiate level. Preliminary findings of these studies suggest that the ENLYTEN electrolyte strip delivers meaningful amounts of electrolytes to the human body in a safe, fast and effective manner.

Special Note Regarding Forward-Looking Statements: Statements in this news release about anticipated or expected future revenue or growth or expressions of future goals or objectives, including statements regarding whether current plans to grow and strengthen the Company's existing business, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All forward-looking statements in this release are based upon information available to the Company on the date of this release. Any forward-looking statements involve risks and uncertainties, including the risk that the Company will be unable to grow or strengthen its business due to a lack of capital or an inability to identify acquisition candidates and that the Company may not realize anticipated cost savings or revenue growth opportunities associated with any acquisitions, planned or otherwise. Additionally, forward-looking statements concerning the performance of the Company's business are based on current market conditions and risks, which may change as the result of certain regulatory, competitive or economic events, as well as those risks and uncertainties described in the Company's filings with the Securities and Exchange Commission, which could cause actual events or results to differ materially from the events or results described in the forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements.

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