Phantom Fiber Corporation
OTC Bulletin Board : PHFB

Phantom Fiber Corporation
BidNation Ltd

BidNation Ltd

August 01, 2006 08:30 ET

Phantom Fiber Signs Exclusive Agreement with BidNation

Phantom Fiber and BidNation join to expand mobile betting options

TORONTO, ONTARIO--(CCNMatthews - Aug. 1, 2006) - Phantom Fiber Corporation (OTCBB:PHFB), the leader in wireless transaction enablement software in the mobile gaming and entertainment sector, has signed a five year exclusive agreement with BidNation Ltd, a European based company that specializes in internet auctions. Under the terms of this agreement, the BidNation services will now be available on mobile phones and PDA's via Phantom Fibers' wireless platform. The ability to allow the player to scroll the auction items, place bids, and be alerted as a specific item they bid on draws to a close.

This integration allows Phantom Fiber to further extend its core business reach while maintaining a revenue sharing model. It is also expected to result in increased clientele, as well as expand betting options and access for end-users.

"This agreement demonstrates Phantom Fiber's dedication to our continued expansion within the European market and further extension into the entertainment arena," states Jeff Halloran, President and Chief Executive Officer of Phantom Fiber; "we believe this is a notable partnership since BidNation's novel service blends seamlessly with the gaming sector, and is also a great stand-alone offering for large corporations that wish to offer auction items to their clientele. This agreement will allow Phantom Fiber and BidNation to reach well outside of our primary sectors, while ensuring Phantom Fiber remains true to the fundamentals that have made us successful since we began providing Internet offerings to mobile users."

BidNation, expects this agreement to result in extended global coverage, as well as additional exposure from third parties that will be able to combine BidNation services with their own. In conjunction, BidNation plans to encourage its current users to expand their use to the new mobile platform.

Justin Chamberlain, Managing Director at BidNation comments; "We are delighted to have partnered with Phantom Fiber for the provision of this mobile gaming software solution which is a key strategic move for our Company. This solution will allow us to expand, strengthen and diversify our offering to global markets, complimenting our comprehensive online and premium SMS solutions. We look forward to driving this product into media, gaming and leisure & retail markets with Phantom Fiber over the next 5 years"

About BidNation

BidNation is a market leader for the provision of interactive Reverse Auction technology to the global gaming industry. Their advanced technology enables their clients to diversify and generate revenue streams and acquire recreational players, utilizing advanced web based, mobile and wireless software technologies. The platform is currently operated under licence in the gaming sector within the UK, Europe and US and can be tailored to for a multitude of other sectors from media to leisure and retail markets.

About Phantom Fiber Corporation

Phantom Fiber Corporation (OTCBB:PHFB) is the leading developer of wireless platform software that enables their customers to deliver high-performance applications across global communications networks to mobile users. Their wireless platform extends the rich multimedia content and user experience of existing Internet web sites securely and instantly to over 1,000 mobile device types including mobile phones and PDAs. This platform is already deployed to most segments of the global gaming industry and can be used by enterprises seeking to implement high performance mobile applications in such markets as: remote medical record access, banking and brokerage applications; logistics and distribution environments.

Forward-Looking Statements:

Some statements in this release are "forward-looking statements" as that term is defined in Sections 27A of the Securities Act of 1933 as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934 as amended (the "Exchange Act"), and are subject to certain risks and uncertainties, including, but not limited to, economic conditions, competition, changes in laws and the demand for the company's goods and services, which could significantly affect anticipated future results. Actual results may differ materially from any forward-looking statements.

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