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PacGames awarded Philippines license

"We are delighted to receive approval on our internet gaming license application," said Tony Tong, Chairman and CEO of PacificNet. "Our games are focused on Asian gamers and the rapidly growing Asian internet gaming market. The approval of this internet gaming license by a leading Asian internet gaming jurisdiction demonstrates our progress in becoming a leading technology provider for the gaming industry, both online and land-based. Asia has evolved into the fastest growing market in both land-based and online gaming and as such, we believe there is a great demand for our Asian-themed gaming products. With our team of 200 programmers in China and Macau we believe our games will better meet the demand of Asian gamers and operators than those of our competitors in both land-based casinos as well as online."

"The move into online internet games is a natural expansion for PacificNet to expand its synergy with many of its operating subsidiaries in CRM as well as internet/mobile partners such as Epro and Bell-PACT CRM call centers, PacGames, WAP.MOABC.com, iMobile.com.cn, 18900.com, vs366.com, and Clickcom.com.cn, among others," said Victor Tong, President of PacificNet. "PacificNet's subsidiary, MOABC.com, is a leading mobile internet portal in China with 11 million registered users and boasts one of the top-ranked mobile internet sites, featuring mobile social networking, mobile games, and entertainment. This free WAP portal provides a variety of mobile internet services to over 11 million registered users in the all-important demographic of young and trendy mobile users in China. We believe that China's internet, mobile gaming and entertainment market will surge in the coming years as a result of the expected launch of 3G services. As such, we believe the addition of online gaming will compliment our existing businesses allowing us to leverage our user base and provide a new and very exciting revenue producer going forward."

First Cagayan of the Philippines is Cagayan Economic Zone Authority's (CEZA) duly appointed Master Licensor for Internet gaming operations. First Cagayan, on behalf of CEZA, processes applications from and, upon approval, issues licenses to international operators seeking to locate within CSEZFP. As Master Licensor, First Cagayan also regulates and monitors all Internet gaming related activities to ensure compliance with established rules and regulations governing operations. According to information from CEZA, interactive gaming licenses issued by Asia's first and only Internet gaming jurisdiction now totals 43, which is 14 more than the last count of 29 in 2006. First Cagayan of the Philippines actively markets the Cagayan Freeport as the gateway to the Asian gaming market in recent years with its reputation for fair and balanced regulation, as well as innovative products and services in the online gaming market.

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