Sungold International Holdings Corp.
OTC Bulletin Board : SGIHF

Sungold International Holdings Corp.

February 25, 2008 03:01 ET

Sungold® Announces New Silks Corporation; Sungold® Shareholders to Receive Silks Share Distribution

TORONTO, ONTARIO--(Marketwire - Feb. 25, 2008) - SUNGOLD INTERNATIONAL HOLDINGS CORP. ("Sungold") (OTCBB:SGIHF)(Frankfurt: WKN 608164, Berlin)

Sungold International Holdings Corp. today announced that it has incorporated Silks Corporation in the state of Nevada in February. The principle role of Silks Corporation, is to operate Sungold's 'Racing The World' Internet simulcast wagering site once the Advance Deposit Wagering (ADW) License is acquired.

Under Silks Corporation, the ThoroughbredStyle Magazine website will integrate with racingtheworld.com to provide a seamless opportunity for subscribers, as well as others around the world, to view and wager on live North American horse racing.

Sungold International Holdings Corp. will issue a stock distribution to shareholders of Sungold International Holdings Corp. of one Silks Corporation share for each ten Sungold International Holdings Corp. shares owned as of the record date, which is February 29, 2008 (1:10 ratio). This share structuring will make Silks Corporation an independent company with the same shareholders as Sungold International Holdings Corp. Silks Corporation will be registered as a public company, initially on the NASDAQ OTCBB.

"Our objective is to add value to our corporate group of companies through new features related to horse racing and make them widely accessible through the Internet," said Keith Blackwell, CEO of Sungold®.

About Sungold International Holdings Corp.:

Sungold® is in the business of developing entertainment and e-commerce business in Canada, USA and internationally. Sungold® has three 100% wholly owned subsidiaries: Horsepower Broadcasting Network (HBN) International Ltd., Racing Unified Network (R.U.N.) Inc. and SafeSpending Inc. Sungold® controls the technology, source codes, trademarks, patents, copyrights and the worldwide title, rights and interest in each of the wholly owned subsidiaries. Sungold® also holds a 38% interest in Silks Media Corporation which publishes ThoroughbredStyle Magazine. Sungold® is a fully reporting public corporation trading as SGIHF-OTCBB.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: The statements in this press release that relate to the Company's expectations with regard to future impact on the Company's results from new products in development are forward looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Such information may contain statements that involve risks and uncertainties and is subject to change, at any time. The Company's results may differ materially from expected results. Information on the factors, which could affect the Company's operations or financial results, is included in the Company's reports on file with Canadian securities regulatory authorities and the United States Securities and Exchange Commission.

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