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David Marshall Returns as Youbet.com Chairman,CEO

``I am excited to be back at Youbet.com,'' said David Marshall. ``The Company has made a significant investment into the horse racing industry, and as the market leader, we are now beginning to realize the benefits of this investment. We have an excellent team who possesses the largest amount of proprietary knowledge and experience of any online gaming company worldwide. With the support of this talented group, my objective is to steer Youbet.com in directions that can unlock our potential.''

Marshall continued, ``Our immediate challenge is to raise the necessary capital to allow us to exploit our business plan and strategy. The previously announced $750,000 cash infusion, which closed today, is the first step.

``We also recently announced the restructuring of our management team and our Board of Directors. Ron Luniewski has resigned as Co-CEO and Ron, Robert Fell, Caesar Kimmel and Bill Roedy have resigned from the Board of Directors. In addition, we are in discussion with several individuals about joining the Board who will bring management and industry experience.

``On behalf of Youbet.com, I would like to thank the directors for the time they spent with the Company and I appreciate their offers of continued support. I would particularly like to thank Ron Luniewski for his many years of dedicated service to Youbet.com. We greatly appreciate the hard work and contributions he made and wish him well with his next endeavors.

``Lastly, I would like to thank our shareholders and many supporters who have stood by the Company and who understand the significant potential we possess and the many opportunities that lie ahead.''

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