Sungold International Holdings Corp.
OTC Bulletin Board : SGIHF

Sungold International Holdings Corp.

July 15, 2008 18:05 ET

Sungold® Reports Progress Update for Affiliated Silks Corporation's ADW Site and Share Distribution


Silks Corporation, an affiliated company of Sungold International Holdings Corp., has recently completed the necessary arrangements for processing computerized on-line wagering on the Advance Deposit Wagering site, Software refinement is currently underway in preparation for the launch. The intention is to be in operation for the fall racing season, or even sooner.

In addition, the Silks Corporation share distribution, as previously announced, has been initiated, giving Sungold shareholders of record on February 29, 2008 one share of Silks Corporation for each 10 Sungold shares owned. If shareholders wish to confirm their share position, we invite you to call Sungold at 416 621 4519.

About Sungold International Holdings Corp.:

Sungold® is in the business of developing entertainment and e-commerce business in Canada, the USA and internationally. In addition to its affiliate, Silks Corporation, 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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