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Horsepower Network.Com Inc. To Go Live Within 10 Days

Horsepower has retained Technical Systems Testing (``TST'') an internationally recognized service provider specializing in Internet and Land-Based Gaming Systems testing, evaluation and auditing. TST is testing the HorsepowerTM internet gaming system and random number generator process.

TST is also testing the game mathematics, source coding, artwork and emulating all possible combinations of winnings. The final report will be presented by TST to Horsepower Network.Com Inc. in accordance with the Queensland ``Interactive Gambling (Player Protection) Acts, 1998 and 1999, and using TST's International Technical Standards and Guidelines. UAT is almost complete and Horsepower is expected to go live within 10 days.

eGaming Report Released

In an extensive report on internet gaming released June 15, 2000 Brian Haggarty editor of eGaming News stated that the Internet gaming industry is a ``jewel just waiting to be unearthed.'' In his report, ``eGaming: The Next Pot of Gold.'' Haggarty says Internet gaming is projected to generate $3 billion US in 2002 and revenues from eGaming companies have risen as much as 300 to 8000% in 2000 compared to 1999.

Richmond Racetrack Application Proceeding

After several weeks of consultations with city and provincial staff, Sungold has begun the process of applying to develop the Richmond Racetrack Multiplex at the Gilmore Farms site in Richmond, BC. It is Sungold's objective to break ground before year end, subject to receiving Richmond City and ALRC approvals. The multiplex is planned to be open for racing in 2002 and is projecting gross revenues of $70 million CDN per year.

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