Sungold International Holdings Corp.

Sungold International Holdings Corp.

March 07, 2005 09:00 ET

Sungold International Holdings Corp.: Horsepower Broadcasting Network International 'HBN' Names New Ceo


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: SUNGOLD INTERNATIONAL HOLDINGS CORP.

OTC Bulletin Board SYMBOL: SGIHF

MARCH 7, 2005 - 09:00 ET

Sungold International Holdings Corp.: Horsepower
Broadcasting Network International 'HBN' Names New Ceo

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 4, 2005) - Sungold
International Holdings Corp. (OTCBB:SGIHF)

The Board of Directors of Sungold International Holdings Corp. are
pleased to announce the appointment of Larry Simpson as CEO and
President of their wholly owned subsidiary Horsepower® Broadcasting
Network International (HBN). The new appointment will see Simpson
overseeing the entire Horsepower® operation, including directing on a
day to day basis the company's proprietary product Horsepower® World
Pool, the exciting, progressive pari-mutuel wager designed to generate
million dollar+ prizes daily for racing fans.

Don Harris, Sungold's Chairman of the Board said "Larry, in his two and
a half years with the company, has worked diligently in bringing the
Horsepower® product to market, and deserves the opportunity to take it
to the next step as we move forward. His expertise in the racing
industry will be extremely important to our company as we not only
continue to introduce Horsepower® to the North American racetracks and
other countries, but also work to have it legislated in the many
interested racing jurisdictions. Kim Hart (the former CEO of
Horsepower®) was a visionary and a long-term strategist and the Board
of Sungold feels quite confident that Larry can continue this work in
progress in a positive and expeditious manner. The Board is in full
agreement that Larry's 25 years plus of successful working experience in
the horse racing industry and the many good contacts he has made over
this period as well, will prove invaluable during this critical juncture
of Horsepower's development."

Prior to the Board's recent announcement, Simpson had been Vice
President of Corporate Development for Horsepower® World Pool,
responsible for the North American racetrack market.

This news release contains forward-looking statements. Forward-looking
statements address future events and conditions based on the opinions
and estimates of management and therefore involve inherent risks and
uncertainties. Actual results may differ materially from those currently
anticipated in such statements. The reader is cautioned not to place
undue reliance on forward-looking statements. The horseracing industry
and pari-mutuel wagering are subject to a number of factors that are
beyond Sungold's control including: changes in economic conditions,
industry competition, management risks, changes in racing products,
variability in operating costs, changes in government and changes in
regulatory rules and regulations.


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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Sungold International Holdings Corp.
    Troy Griffin
    (604) 669-9580
    (604) 669-9577 (FAX)