SOURCE: World Poker Store

June 05, 2008 19:50 ET

The World Poker Store, Inc. Announces Business Developments in China

ST. PAUL, MN--(Marketwire - June 5, 2008) - The World Poker Store, Inc. (PINKSHEETS: WPKS), an international entertainment company, today announced that its Chinese subsidiary has won approval to become a Joint Stock Corporation. This milestone enables our subsidiary to accept investment funds from the Chinese public, and is a step toward listing the subsidiary on a Chinese stock exchange should management decide to do so. Our subsidiary has completed an initial round of fund raising from our Chinese business partners.

The construction of our first entertainment complex has begun in the city of Loudi, China. Our development has been designated a Key Project by the Hunan Provincial People's Government. Because of this designation, Chuck Chastain, CEO of The World Poker Store, will participate in a ceremonial signing of our contract on June 18th at The Hunan Investment Conference in Shanghai. The ceremony will be attended by the Mayor of Loudi and the Governor of Hunan. The conference is sponsored by the Hunan Provincial People's Government to promote investment and economic development.

Loudi Project

Our subsidiary, Shenzhen World Poker Entertainment Inc., will develop, own, and operate a 50,000 square foot membership-based entertainment facility called The Palace. The project is located in the HuiTain Office Tower in the heart of Loudi's business district. The Palace will include a Las Vegas style nightclub, card room, business center, restaurant, and health club. Our services are designed for Loudi's business travelers from the West, and the fast growing affluent local population which is demanding Western style entertainment.

The political leadership in Loudi has committed to purchase a significant number of memberships, and views our entertainment complex as a strategic asset which will draw new businesses to Loudi.

We have created a photoshow for our investors to view the designs of The Palace. Click on this link to view the designs http://www.photoshow.com/members/WPE/all.

About Loudi

Loudi is a thriving city of 4.5 million people in south central China. The city is rich in natural resources, home to one of the world's largest steel mills, and strategically located at the intersection of national highways and railways. The city has experienced exceptional growth and a booming economy from the demand for the natural resources and its close proximity to Changsha, the capital city of Hunan.

About The World Poker Store, Inc.

The company is expanding The Bar Poker League and its proprietary Player Card system through licensing agreements and league sponsorships in the United Stated and Europe. The company is expanding in China where it will own and operate upscale membership-based entertainment clubs that offer Las Vegas style entertainment, including VIP amenities and free poker tournaments. The company continues to benefit from the support of its advisory board of world-class poker players including Marcel Luske, Phil Hellmuth, Johnny Chan, Patrik Antonius, Hoyt Corkins and Liz Lieu. Additional information about the company can be found on its website www.theworldpokerstore.com.

This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.

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