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Gambling Jumps into Cyperspace

RAROTONGA, Cook Islands -- Casinos of the South Pacific (COSP) Wednesday announced an agreement with a wholly owned subsidiary of Torrey Pines Nevada Inc. (OTC BB: TPNN) whereby Torrey Pines Nevada Inc. and COSP will receive 80 percent and 20 percent respectively of the net revenues from one of the world's finest Internet casinos.

The new Internet gaming facility is located in the South Pacific and is managed and operated by COSP.

The agreement calls for the subsidiary to provide technical and financial consulting, including software, security and transaction techniques for making Internet gaming simple, fun and secure.

Investments to date by Torrey Pines, which total in excess of $450,000, have enabled COSP to purchase and install, in the Cook Islands, the "servers" that support COSP's proprietary Internet gaming software.

Torrey Pines Nevada Inc. has agreed to raise an additional $550,000 in financing necessary for COSP to continue the ramp-up and worldwide advertising program of the Internet gaming site.

Torrey Pines Nevada Inc. will re-domicile to the Cook Islands in the South Pacific and operate under the name Cyberwin International.

The casino gaming software and transactions are audited for COSP by the international accounting firm KPMG - Peat Marwick. Casino transactions are processed for COSP through a major international bank and insured by an A+ rated international insurance company.

You can play for fun at http://www.cosp.com, and soon you will be able to play for real money at http://www.ck.cosp.com in those jurisdictions where it is not unlawful to do so. Most major credit cards will be accepted.

Source: BUSINESS WIRE

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