Parlay Entertainment Inc.
TSX VENTURE : PEI

Parlay Entertainment Inc.

November 15, 2005 17:00 ET

Parlay Entertainment Inc. Graduates to Tier 1 Technology Issuer on the TSX Venture Exchange

OAKVILLE, ONTARIO--(CCNMatthews - Nov. 15, 2005) -

Continued growth, profitability and stability leads to Graduation from Tier 2 to Tier 1

Parlay Entertainment Inc. (TSX VENTURE:PEI), the world's leading supplier of Internet bingo solutions, is pleased to announce that it has met the requirements of TSX Venture Exchange Policy 2.5 - Tier Maintenance Requirements and Inter-Tier Movement ("Policy 2.5") and, accordingly, the Company's tier classification will change from Tier 2 to Tier 1, effective on November 16, 2005.

"We are very pleased to meet the requirements of Policy 2.5 as a Tier 1 Technology Issuer," said Scott F. White, Parlay's President & CEO. "Our graduation demonstrates our continued growth, profitability and maturation as a development-stage company, generating increasing revenue and profitability in the exciting e-gaming marketplace. It is our intention to explore additional opportunities in the capital markets in 2006, including a possible listing on the Toronto Stock Exchange."

With the graduation to a Tier 1 Technology Issuer, the Common Shares held by officers and directors of the Company will be subject to escrow provisions appropriate to a Tier 1 Technology Issuer effective with the date of the Company's original listing on the TSX Venture Exchange being June 17, 2005. Accordingly, the 5,098,998 Common Shares held by officers and directors of the Company subject to escrow provisions will be released from escrow as follows: 1,274,750 by November 16, 2005, 1,274,750 on December 17, 2005, 1,274,750 on June 17, 2006 and the remaining 1,274,748 on December 17, 2006. In addition, there are 1,390,000 options to purchase Common Shares held by officers and directors which will be subject to escrow provisions and released from escrow in the same manner as described above.

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 bingo1, 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. Parlay Entertainment's multi-platform, multi-player 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, Gala Bingo, and Yahoo!

Parlay has a seven year proven track record built on the success of its clients: in the past 12 months, more than 2.2 million paying players enjoyed the experience of playing Parlay games on our licensees' gaming websites. Parlay is headquartered in Oakville, Canada with offices in Bridgetown, Barbados, and Valletta, Malta.

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.

(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.

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

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