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Action Online Entertainment Receives Online Approval

17 September 2002

LAS VEGAS--(Press Release)--Action Online Entertainment (IOM) Limited, a pioneer in the legal e-gaming industry based on the Isle of Man, formally announced the launch of its online casino under the URL today. Action Online Entertainment is the only non-public, non-land based casino that earlier this year was granted one of five licenses by the gaming regulatory body of the Isle of Man. joins MGM Mirage, Sun International, Littlewoods and Rank as Isle of Man licensees.

The Isle of Man, an autonomous British Crown dependency, provides a strict regulatory environment and a competitive tax regime that has attracted interest from large casino and gaming operators around the world searching for a safe, well regulated base for their online casinos.

Action Online Entertainment is the first venture capital backed online gaming company financed by the world-renowned Crosspoint Venture Partners.

"We are blazing the trail for the e-gaming industry with being the first and only start-up major online casino currently in operation," said Jim McKennon, president and CEO of Action Online Entertainment. "Given this fact, it is essential that every step we take from the selection of our software to the establishment of our regulatory compliance system is undertaken with the utmost consideration. "

" is unique in that we are entering the market with no origins in land-based casinos," McKennon said. "And yet, while we were the last of the five companies to be granted a license we were the second to initiate operations," will offer such renowned table games such as black jack, baccarat, three types of roulette and slot games such as video poker and multi-line slots. It has taken extensive care to ensure that the software used to develop its online games is engaging, easy to learn and competitive in the same way as it would be if the player was sitting across from a dealer in a casino.

Additionally, McKennon said that while Action Online Entertainment has invested a lot of time and effort into developing its site, they have also worked diligently to establish a rigid and auditable set of guidelines that visitors to must follow to be eligible to game at the site.

"Developing an acceptable way for our e-gaming operations to be regulated and in compliance took us more time and more money, but in the end we feel it will be well worth the investment as our system will set the standard for future operations," said McKennon.

In keeping with their philosophy of being the company that sets the benchmark for regulatory standards of the online gaming industry, will not accept wagers from the United States or any other jurisdiction that by law prohibits its residents from participating in online gaming.

This pace setting strategy will also include establishing industry standards for online gaming amenities available to its players. In addition to offering traditional table games online, has reached out to a number of notable hotels and restaurants to establish complimentary privileges for their frequent players in a similar way to the slot/gaming clubs offered at land-based casinos.

"It is our intent that will ultimately be able to provide its players with a land-based casino experience in an online environment, complete with rewards for frequent play," McKennon added. "We want our customers to enjoy the full benefits of a gaming environment with the convenience of having it all at their fingertips."

Initial market rollout of will take place in Europe and expand to other parts of the world as e-gaming continues to develop. Action Online Entertainment has opened Regional Marketing offices in London, Hong Kong, Mexico and Beirut. The company has full business operations in the Isle of Man, including casino operations, accounting and a customer service center.

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