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WagerPhone acquisition as success

NEW YORK, New York – (PRESS RELEASE) -- New Wave Mobile Inc - NWWM - is pleased to announce that the 100% acquisition of WagerPhone Inc. - WP is progressing very well. All major terms have been agreed upon and NWWM has already committed its first tranche of financing to ensure that WP can begin preparation for a fast paced and eventful January. An extension of the closing has been implemented to ensure the proper execution of this transaction.

Armando Russo, President of NWWM states: "The clients that WP is working with are significant players in the worldwide lottery industry. By making lottery services more accessible and convenient than ever before, WP's will bridge the gap between conventional lottery ticket sales and modern technology. The result will be a substantial increase in revenues by appealing to both existing and new player demographics. We look forward working with WP and implementing their comprehensive business model with their existing and upcoming initiatives across the massive industry."

WP is an aggregator of technologies and a provider of Next Generation Lottery Solutions. They are positioned to launch text message (SMS), Online, Mobile Applications (J2ME/Brew), WAP, and Interactive Voice Recognition (IVR) services to Regulated National / State Lotteries providing them with new methods of lottery and scratch card ticket sales and distribution. WP's extensible products will also act as a turnkey solution offering significant value to the lotteries beyond the ability to distribute their product via alternative mediums. WP is currently working to implement its services with a variety of clients, including major national lotteries with revenues ranging from 100 million to several billion dollars.

Marc Askenasi, President of WP said: "There are many hurdles that have to be overcome in order to meet the technical needs of any client. It has been a wonderful learning experience for us, and as a result of working with operational clients, we have gained a world of knowledge, and insight that would otherwise be unattainable. We have been working hard with our clients to offer them the perfect business model created around mutually defined technical, commercial and legal requirements for the successful launch and long-standing operations of WP products and solutions."

When looking at the business opportunity ahead, the prospects are astounding. David D'Onofrio, CFO of WP said, "We are very excited with respect to the opportunity at hand. We are one of the first companies to offer some of the most revolutionary technologies to an industry that generates revenues in excess of $350 billion annually, and so far, we couldn't have asked for a better reception. Our deal with NWWM puts us in an even better position to take advantage of this opportunity."

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