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Sungold, Clinton Phipps Racetrack Sign Letter of Intent

ST. THOMAS, Virgin Islands -- (PRESS RELEASE) -- Sungold International Holdings Corp. ("Sungold") (OTCBB:SGIHF) is pleased to announce that Clinton Phipps Racetrack has signed a Letter of Intent to become an Authorized Racetrack Affiliate with a five year exclusive license agreement for the Horsepower World Pool pari-mutuel product at their U.S. Virgin Island facility in St. Thomas. Horsepower wagering at the Clinton Phipps facility is subject to pari-mutuel approval and a successful technical evaluation approved by both parties.

Larry Simpson, President and CEO of Sungold's wholly owned subsidiary Horsepower Broadcasting Network (HBN) International Ltd., stated, "Including racetracks and affiliated off track betting sites, we now have over fifty licensed pari-mutuel facilities that have expressed a desire in offering the Horsepower World Pool product. This arrangement with Clinton Phipps further expands our reach into the important Caribbean wagering market."

St. Thomas is considered one of the preferred tourist destinations in the Caribbean and is host to more than one million cruise ship passenger and overnight guests each year, it is also home to the International Rolex Regatta, where sailors from all around the world come to compete for the 'crown jewel' of the Caribbean sailing circuit.

The proprietary "Quick 6 World Pool" and Horsepower Pick 1 bets give the Clinton Phipps facility two exciting new wagering opportunities and the ability to sell advertising space to sponsors on the screens between virtual races. Terrence Rabsatt, Manager for the Clinton Phipps facility, stated, "Our track is looking forward to offering our patrons the opportunity of two exciting new wagers, including the Pick Six with its potential multi-million dollar payouts. Horsepower will prove to be an exciting draw not only for our regular day to day players, but tourists will also be more compelled to visit the Clinton Phipps facility during their stay on the island".

Horsepower is a progressive, pari-mutuel racing system that has been custom developed for racing and extensively tested to exceed international standards. The Horsepower Quick 6 World Pool and the Horsepower Pick 1 random win bets are sold simultaneously at multiple racetracks in strips of ten races to bettors using the tracks' existing tote machines. The Horsepower Quick 6 World Pool bet is a live, progressive, pari-mutuel wager with random odds tested to be approximately 2.2 million to one for the lucky fan picking the first six of fourteen virtual horses in exact order of finish in any Horsepower virtual race.

Sungold concurrently announces that it has retained Business Consulting Group Unlimited of Encinitas, California to assist in the next phase of the company's growth. BCGU is a group of highly experienced executives dedicated to delivering innovative and professional financial and consulting services to emerging growth and development stage companies.

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