TrackPower, Inc.
OTC Bulletin Board : TPWR

TrackPower, Inc.

August 30, 2005 19:23 ET

TrackPower Issues Letter to Shareholders

TORONTO, ONTARIO--(CCNMatthews - Aug. 30, 2005) - TrackPower, Inc. (OTCBB:TPWR) today issued a Letter to Shareholders on its website (www.trackpower.com) to explain the partnership agreement between its affiliate Tioga Downs Racetrack, LLC and Nevada Gold & Casinos, Inc. (AMEX:UWN) to acquire a 50% equity interest in a new limited liability company that will be 50% owned by Tioga Downs. Tioga Downs is jointly-owned by affiliates of TrackPower Inc, and Southern Tier Acquisitions, LLC.

In brief, the new partnership agreement pertains to the development of a racetrack and VLT facility at Tioga Downs in Nichols, New York and the acquisition and re-development of a racetrack and VLT facility at Vernon Downs in Vernon, New York. The partnership was announced August 25, 2005 via news release, which can be viewed at www.trackpower.com.

The Letter to Shareholders provides additional details of the Nevada Gold partnership, including rationale for the transaction, and financial implications for TrackPower and its shareholders. The purpose of the Letter to Shareholders is to address the anticipated short and long-term benefits the partnership presents to TrackPower, the Tioga and Vernon Downs development projects and most importantly TrackPower shareholders.

The Letter to Shareholders can be viewed on the TrackPower website at: www.trackpower.com.

Forward-Looking Statements

This release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. We use words such as "anticipate," "believe," "expect," "future," "intend," "plan," and similar expressions to identify forward-looking statements. Forward-looking statements include, without limitation, our ability to increase income streams, to grow revenue and earnings, and to obtain additional Indian gaming and other projects. These statements are only predictions and are subject to certain risks, uncertainties and assumptions, which are identified and described in the Company's public filings with the Securities and Exchange Commission.

About TrackPower

TrackPower, Inc. (OTCBB:TPWR) TrackPower is currently focused on developing regional racetracks and gaming projects. Construction of a $35.0 million redevelopment of Tioga Downs Racetrack recently began. Tioga Downs Racetrack will operate as a harness racetrack and offer approximately 750 video lottery terminal machines (VLTs) to its gaming and racing customers. A newly-constructed 90,000 square foot grandstand will house a 19,000 sq. ft. casino floor. For more information, visit www.trackpower.com

Contact Information

  • TrackPower, Inc.
    John Simmonds
    Chairman
    (905) 773-1987 x 223
    or
    TrackPower, Inc.
    Ed Tracy
    President and CEO
    (905) 773-1987 x 226
    www.trackpower.com