Win Win Gaming to Acquire Pixiem - Tuesday 12th of April 2005

Win Win Gaming, Inc., a Las Vegas-based operator of international lottery games and related gaming ventures announced today that it has agreed in principle to acquire Pixiem, Inc., a global developer and publisher of wireless entertainment games.

Established in early 2004 to ride the wave of the growing wireless game market, Pixiem made its entry into the marketplace with the strength of development partnerships and staff members with mobile application experience dating back to 1997. Today, Pixiem develops and publishes mobile applications for the wireless entertainment market in North and South America, Europe, and Asia. Pixiem has created top-notch branded mobile games with high-quality content partners that include IMG/TWIi and Wimbledon.

"The proposed acquisition of Pixiem will provide us with immediate access to the explosive global wireless entertainment game market," said Win Win CEO Patrick Rogers. "It will also allow us to expand our business model in Mainland China, our primary area of focus, to include wireless game content of all forms. Using this platform, we can ultimately develop lottery-related wireless games for China and, further, develop a global network to launch an international wireless lottery game."

The demand for mobile entertainment products is accelerating. Overall, it is estimated that one third of all handsets sold throughout the world today have the capability to play wireless games. Frost and Sullivan, a leading business growth consulting firm, stated that, in 2003 the global wireless market reached US $1.1 billion in total sales and they estimate that the market will reach US $9.3 billion by 2008. Datamonitor, a market research firm has estimated that by 2005, about 200 million people in the US and Europe will be playing mobile games and that, in this same time period, Asia will surpass this figure.

Pixiem President, H.S. Lee said, "We are excited at the opportunity to join forces with Win Win Gaming. The wireless entertainment market in Asia already leads the world and, with Win Win, we believe that we can gain a strong foothold in China. Based on its huge population base and vast proliferation of mobile phones, we believe the Chinese market will surpass the rest of Asia in the near future."

The agreement in principle is reflected in a non-binding letter of intent. The acquisition is subject to several conditions including, the satisfactory completion by Win Win of due diligence on Pixiem, obtaining necessary third party consents and other customary closing conditions. The final terms of the acquisition will be included in a definitive acquisition agreement to be negotiated between the parties.

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