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Companies Plan Australian Sports Book Site with Comparative Pricing

This will allow players to see a variety of odds on different sports. They will then be able to choose the best odds and place wagers with the licensed bookmaker of their choice.

SportsXite will coordinate activity through its Web site and offer services in addition to sports wagering. The project is expected to go live in the first quarter of 2000, in time for the Rugby League and AFL season openers.

"The virtual betting site is the first of its kind in the world,'' said David Kinsman, chief executive of Online Gaming Systems Australia. "The player will be able to choose the best odds from a range of licensed bookmakers for each of their wagers. The value-added services will make the entire experience of sports wagering entertaining. Players will also have the security of placing wagers with fully regulated bookmakers, who operate under the control of the New South Wales Department of Gaming and Racing."

Richard A. Iamunno, chief executive of Online Gaming Systems, said, "The Australian market is of great importance to the company. With our first wagering agreement, we look forward to gaining an appreciable share of the Australian wagering market.''

Online Gaming Systems (http://www.ogsltd.com) develops and markets Internet and private network transaction-based products that it only offers to licensed gaming operators in regulated jurisdictions. These products include Internet Casino Extension, a suite of casino games; webSports, a sports wagering system; Lotto Magic, a lottery system for private, government and fund-raising purposes; and Bingo Blast, a multi-player system for charity and private organization use.

The company also offers wireless and portable gaming devices through Las Vegas-based Excel Design, Inc., a wholly owned subsidiary.

The company is based in Boca Raton, Fla., and is traded on the OTC Bulletin Board under the symbol OGAM.

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