Parlay Entertainment Inc.
TSX VENTURE : PEI

Parlay Entertainment Inc.

August 08, 2006 00:01 ET

Paddy Power Launches Online Bingo Using Parlay Entertainment Technology

Paddy Power partners with Parlay Entertainment and The Gaming Network to offer the best in bingo.

LONDON, UNITED KINGDOM--(CCNMatthews - Aug. 8, 2006) - Parlay Entertainment Inc. (TSX VENTURE:PEI), the world's leading supplier of Internet bingo solutions, is pleased to announce that Paddy Power plc, Ireland's largest betting and gaming company, has added Parlay Bingo to its roster of online games. Paddy Power Bingo has launched in co-operation with Parlay and turnkey operator, The Gaming Network. The game can be accessed through PaddyPower.com, or by going directly to PaddyPowerBingo.com.

Since opening its doors in 1988, Paddy Power has grown to become the largest provider of fixed odds sports betting in Ireland. While the company specializes in small stakes, fixed odds sports betting, it also offers odds on a number of non-sporting and novelty markets, such as election results betting and the outcome of popular TV events. The addition of online bingo builds on Paddy Power's commitment to make low-stakes betting more entertaining and accessible.

"We're pleased to welcome Paddy Power to The Gaming Network and our family of branded bingo sites," said Fraser Quigan, Director of Sales for The Gaming Network. "Clearly, networks are the solution of choice for big brands entering the online bingo space for the first time, giving their players instant access to large bingo jackpots and lively chat rooms."

Andrew Branscombe, Vice President of Sales for Parlay Entertainment, said, "Big-name gaming and entertainment brands are increasingly expressing interest in online bingo, and Paddy Power is certainly ahead of the curve. This launch lends credibility to the contention that bingo is a game with mass market appeal and huge profit potential for operators. Established betting and casino operators are beginning to realize that bingo is an important part of the online gaming product mix and that they can no longer afford not to add bingo to their online offering."

About Parlay Entertainment

Parlay Entertainment Inc. is the world's leading developer and dominant licensor of Internet bingo solutions. As the inventor and patent holder of Internet bingo(1), Parlay is the first company in the world to develop and deploy a commercial Internet bingo product. Parlay Bingo is available in both 75-number and 90-number versions and is complemented by a full suite of lottery and casino games. Our multi-player, multi-platform technology is used to power more online bingo sites than any other software provider in the world. Some of the world's best-known brands use Parlay Bingo solutions, including Virgin, Yahoo! and MSN.

(1) United States Patent No. 6,585,590 "Method and system for operating a bingo game on the Internet", with other Patent applications pending in other countries.

Parlay has an eight year proven track record built on the success of our clients: In 2005, more than 2.8 million players wagered nearly $2 billion USD on gaming websites that use Parlay software. Parlay is headquartered in Oakville, Canada with offices in Bridgetown, Barbados and Valletta, Malta.

About The Gaming Network

TGN operates an online bingo network that offers network partners a low risk solution with quick start-up times, instant critical mass, full regulatory compliance and industry best practices. Leveraging years of hands on gaming industry experience, TGN provides a turnkey gaming operation that allows network partners to offer online bingo and casino products without having to manage technical, business, licensing and operational infrastructure. TGN is designed from the ground up to support the delivery of regulated gaming products in partnership with top tier brands. The company is fully licensed in Malta.

TGN has contracted with 14 network partners since its start of operations in August 2005. The company has become renowned for the integrity with which it conducts its business and its fully-managed, award-winning sites have a reputation among players as being great places to play bingo.

For more information on Parlay solutions and services, please visit our Web site at www.parlaygroup.com

This document may contain statements about expected future events and/or financial and operating results of Parlay Entertainment Inc. that are forward-looking. By their nature, forward-looking statements require the Company to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that predictions and other forward-looking statements will not prove to be accurate. Readers are cautioned not to place undue reliance on forward-looking statements as a number of factors could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed in the forward-looking statements.

The TSX Venture Exchange does not accept any responsibility for the adequacy or accuracy of this release.

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