Strategic Internet Investments, Incorporated
OTC Bulletin Board : SIII

Strategic Internet Investments, Incorporated

April 11, 2006 17:46 ET

Strategic Internet Investments, Incorporated: Dream Island Update

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 11, 2006) - Strategic Internet Investments, Incorporated (the "Company") (OTCBB:SIII) announces that the Ministry of Finance, Bahrain ("MOFB") has notified Gulf Star World Development LLC that due to a lack of progress and failure to advance the project in a timely basis, the MOFB intends to seek termination of the lease contract for the Dream Island site.

The Company and its partners, Jzala Group and Star Leisure & Entertainment Inc. (a related party to the Company) are evaluating the MOFB notification and intend to make appropriate response through their legal council in Bahrain to the MOFB and possibly seek arbitration as allowed for the MOFB lease contract.

The Company and its Partners are hopeful that this unfortunate situation can be solved to the benefit of all parties and wish to state to the Companies shareholders and investors that certain MOFB caused delays in delivering the various permits required to allow commencement of the project have directly impacted the timely advancement and funding of the project.

Updates on this situation will be released as they become available to the Company and its Partners.

Shares issued: 24,860,326

Sec #33-28188

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