Parlay Entertainment Inc.
TSX VENTURE : PEI

Parlay Entertainment Inc.

November 24, 2006 16:32 ET

Parlay Re-Files Certain Year End Documents

OAKVILLE, ONTARIO--(CCNMatthews - Nov. 24, 2006) - Parlay Entertainment Inc. ("Parlay") (TSX VENTURE:PEI), the world's leading supplier of Internet bingo solutions, announced today that, at the request of the Ontario Securities Commission ("OSC"), it has re-filed the following documents pursuant to its December 31, 2005 year end:

- Its CEO and CFO certifications for the year ended December 31, 2005.

- Its Management's Discussion and Analysis ("M D & A ") for the year ended December 31, 2005.

The re-filed documents address the following deficiencies identified by the OSC as part of their continuous disclosure review program:

- Pursuant to its December 31, 2005 year end, the form of the certification used by Parlay's CEO and CFO should have been Form 52-109F1 - Certification of Annual Filings (excluding the phrase "and internal control over financial reporting" from paragraph 4 and the entirety of paragraphs 4.(b) and 5) rather than the Form 52-109FT1 - Certification of Annual Filings During Transition Period used.

- The Form 52-109FT1 was dated February 22, 2006 and it should have been dated March 15, 2006 being the latest of the dates that Parlay issued its annual financial statements and the related annual M D & A and the date that Parlay issued its Annual Information Form.

- The annual M D & A omitted to include the CEO's and the CFO's conclusion concerning the effectiveness of Parlay's disclosure controls and procedures. The amended M D & A indicates that an evaluation of the effectiveness of the design and operation of Parlay's disclosure controls and procedures was conducted as of February 22, 2006 by the CEO and CFO and that as of February 22, 2006 the disclosure controls and procedures were effective.

No other changes were made to the annual M D & A for 2005 or to any other filings pursuant to the 2005 fiscal year end of Parlay. The re-filed CEO and CFO certifications and the re-filed M D & A may be found at www.sedar.com.

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.

(c) 2006 by Parlay Entertainment Inc.


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

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