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Antigua Approves E-Casinos International for Virtual Casino Wagering License

21 July 1999

VentureTech Inc. (OTC Bulletin Board: VTEH), an Idaho Corporation, said its wholly owned subsidiary, EuroAsian E-Casinos International Ltd. (E-Casinos International) has been approved by the government of Antigua for a virtual casino wagering license. E-Casinos International, based in Antigua, expects to launch its first Web gaming site for real-money late this July.

The site will primarily be marketed to the lucrative Asian gaming market, but will be accessible from all parts of the world with the exception of the United States and Canada. Until such time as the laws regarding online wagering in these jurisdictions are clarified, VentureTech said, E-Casinos International will not accept wagers originating from these areas.

E-Casinos International has licensed its software technology from Softec Systems Caribbean Inc., a wholly owned subsidiary of Starnet Communications International Inc. Under the agreement, Softec will supply E-Casinos International with a customized, full service Internet gaming system where customers will be able to place wagers for real money on casino-style games of chance, pari-mutuel racing and at its international sportsbook.

This is E-Casinos International's first casino. The company intends to operate multiple Internet gaming sites with varying cultural themes to appeal to a broad spectrum of international players.

Art Rosenberg, chief operating officer of VentureTech, said the company is a founding member of the Interactive Gaming Council.

Based in Vancouver, VentureTech is a high technology investment and finance company licensing.

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