SOURCE: Sona Mobile

January 12, 2007 08:30 ET

New York Adopts Internet and Telephone Wagering Standards Paving the Way for Sona Mobile's Racetrack Initiatives

New Law Benefits the Recently Announced Strategic Partnership Between Sona Mobile and the New York Racing Association

NEW YORK, NY -- (MARKET WIRE) -- January 12, 2007 -- Sona Mobile Holdings Corp. (OTCBB: SNMB) announced today that the New York State Racing and Wagering Board adopted a regulation that will allow horse race wagering via the Internet and other electronic platforms, including cell phones.

The new rule, which comes into effect on January 22, 2007, is expected to clear the way for Sona's mobile and online wagering initiatives with the New York Racing Association (NYRA), the owner and operator of the three largest racetracks in New York. The partnership targets the launch of a NYRA-branded online wagering platform by the end of the first quarter of 2007.

The rule also outlines the reporting, record keeping, operational and application guidelines for racetracks and off-track betting (OTB) corporations that intend to offer wagering using electronic platforms. "New York State and the Racing and Wagering Board need to ensure that the hundreds of millions of dollars that may potentially be wagered by telephone and the Internet, in any given year, can be accounted for using uniform and reliable methods," said Daniel D. Hogan, Chairman of the New York State Racing and Wagering Board, in a statement quoted in online publication.

"The decision by the New York State Racing and Wagering Board enables tracks to generate more revenues and cuts the costs of placing bets. We expect that it will create a strong demand for our technology and expertise in developing web-based and wireless wagering platforms," said Chairman and Chief Executive Officer of Sona Mobile, Shawn Kreloff.

The rule was approved on an emergency basis for 90 days. The permanent rule is expected to be finalized upon satisfactory review by the state Office of Regulatory Reform and submission to the Department of State for public comment. The rules will not be adopted by the Board until the completion of the 45-day public comment period

Forward-Looking Statements

Certain statements made in this press release are "forward-looking statements" within the meaning of Section 21E of the Securities and Exchange Act of 1934 regarding the plans and objectives of management for future operations and market trends and expectations. Such statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking statements included herein are based on current expectations that involve numerous risks and uncertainties. Assumptions relating to these forward-looking statements include judgments with respect to, among other things, Board adoption of the final rule, our ability to develop a NYRA-branded platform, future economic, competitive and market conditions with respect to the product and otherwise, and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond our control. Although we believe that our assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking statements included in this report will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that our objectives and plans will be achieved. The terms "we," "our," "us," or any derivative thereof, as used herein refer to Sona Mobile Holdings Corp., a Delaware corporation, and its predecessors.

About Sona Mobile

Sona Mobile Inc. is a leading provider of secure mobile solutions for gaming and entertainment applications as well as access to financial and enterprise information. Sona's technology delivers a rich client experience without compromising performance or security. Sona's key differentiator is the innovative Sona Wireless Development Platform (SWP) and 3D mobile methodology. The SWP architecture works across a wide range of mobile devices and operating systems, including Research In Motion's BlackBerry® and Microsoft Corp's Windows Mobile® lines. Sona's global strategic alliance with Shuffle Master, Inc. utilizes the SWP to provide users with wireless in-casino gaming.

About The New York Racing Association, Inc.

The New York Racing Association, Inc. is a private, non-profit association that owns and operates the three largest racetracks in New York: Aqueduct, Belmont Park and Saratoga. Last year, more than two million people attended the races at NYRA tracks and enjoyed the highest quality thoroughbred racing in the world. New York's Thoroughbred racing industry provides 17,000 jobs and has a $1.4 billion in annual impact on the New York State economy. Last year, NYRA's Belmont Park and Saratoga Race Course were ranked first and second, respectively, among all North American racetracks in average daily purse distribution.

Contact Information

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    Shawn Kreloff
    Chief Executive Officer
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    Kate Sidorovich
    Investor Relations
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