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Betbull Releases Q1 Results

12 July 2006

LONDON, England – (PRESS RELEASE) -- In the period 1st January 2006 to 30th June 2006 the betbull group's retail net stakes totaled GBP31 m. Net gaming revenue for the same period totaled GBP4.8 m.

The FIFA World Cup in particular has been a great success for the betbull Group in terms of stakes and net gaming revenue. Sports betting turnover for June 2006 alone generated stakes of over GBP5.1 m yielding net gaming revenue of over GBP0.8 m.

Overall, the legal status of sports betting in Germany after the Constitutional Court ruling in March this year is still at the centre of numerous cases before the courts. A small number of betbull Agencies (less than 5 %) have closed as a result of regional legislation and betbull is actively working to reopen the units involved and to claim damages, including loss of profits. Legal advisors to the group and the bookmaking associations in Germany share the view that the German Constitutional Court will likely have to take up this and related issues one more time.

In Spain, betbull has opened the first of three pilot shops in the Province of Andalucia, the remaining two units will be trading by September. Betbull is well placed to profit from the imminent liberalization of gaming that is expected in Spain.

Simon Bold, Executive Director of betbull Plc: "The FIFA World Cup has generated a lot of enthusiasm that has been carried over into the retail outlets yielding the best ever results for the group so far, despite the fact that some of the most profitable results from matches played in the World Cup have spilt over into our July trading figures. The company is pleased to announce its continued growth in the German retail sector and report that other projects are progressing well, particularly with regard to the Spanish pilot shops."

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