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BEToptions Signs Five-Year License Agreement with Phantom Fiber
Press Release
FEBRUARY 27, 2006
TORONTO, ONTARIO--(CCNMatthews - Feb. 27, 2006) -
New deal further expands Phantom Fiber's wireless platform reach into global sports and race wagering industry
Phantom Fiber Corporation (OTCBB:PHFB), the leading developer of wireless platform software announced today a five-year exclusive license agreement with BEToptions Pty Ltd., the leading provider of global online sports and race wagering technology solutions. The business terms of the agreement are based on a user fee revenue model generated through mobile application usage in addition to service maintenance fees.
BEToptions specialize in the delivery of integrated wagering systems to sportsbooks and bookmakers worldwide. Development commenced early 2000 with Australian government approval and the first WAGERplayer licensee went live in May 2002. Since then, WAGERplayer has quickly established itself as the most respected, stable and flexible bookmaker and sportsbook platform with BEToptions dedicated customer support key to its successful implementation at some of the busiest bookmaking operations globally. Its list of clients includes Mansion, Dial-A-Bet, Sports Acumen, and Bowmans International. They have been recently commissioned by the governing body of thoroughbred racing in Victoria, Racing Victoria Limited, to develop an online betting ring promoting Victorian bookmakers. The online Betting Ring provides customers the ability to compare prices and place wagers on the best price offered by the participating bookmakers. For additional information on the project, visit:
http://www.racingvictoria.net.au/index.php?option=com_content&task=view&id=1070&Itemid=250
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Jeff Halloran, President and CEO for Phantom Fiber Corporation stated, "BEToptions has one of the best architected and most comprehensive solutions on the market today with an open architecture that easily adapts to European and North American betting styles. Their horse and sport events wagering management systems provide the user and operator with extensive functionality and sophisticated reporting which immediately led to mutual recognition that our respective advanced solutions created the perfect opportunity for partnership and thus made our decision swift and logical. No different than ourselves, BEToptions proved itself by delivering an advanced gaming platform called WAGERplayer which currently powers many of the leading brands in the sports and horse racing segments of the global gaming industry and even achieved benchmarks of 10,000 bets per minutes using an advanced risk management system with real-time alerts. We are excited they have chosen our solution and look forward to enabling their gaming operators on our advanced wireless platform and strongly believe mutually beneficial opportunities will be derived from a very long and successful relationship."
Antony Burrows, Director of Operations for BEToptions Pty Ltd. commented, "With planned expansion into additional markets such as South Africa and the Caribbean, we felt it was imperative to make the move towards a mobile solution that would prepare our licensed operators for mobile channel growth already being realized in the sports and racing segment of the gaming industry. Phantom Fiber was highly regarded and extremely noticeable at the UK ICE event and after reviewing some of their live mobile products across leading brand operators in several gaming segments, we were convinced that choosing their wireless platform with broad device support was the right option to complement our best-of-breed WAGERplayer Platform. We plan to work closely with Phantom Fiber as we enable our leading brands for mobile penetration in 2006 and beyond."
Safe Harbor Statement
Some statements in this release are "forward-looking statements" as that term is defined in Sections 27A of the Securities Act of 1933 as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934 as amended (the "Exchange Act"), and are subject to certain risks and uncertainties, including, but not limited to, economic conditions, competition, changes in laws and the demand for the company's goods and services, which could significantly affect anticipated future results. Actual results may differ materially from any forward-looking statements.
About BEToptions Pty Ltd.
BEToptions was formed in 2000 as a custom development firm for the global sports and race wagering industry. BEToptions' core product, WAGERplayer has been in production since 2002. WAGERplayer is a high-performance integrated wagering system with advanced risk management tools and unmatched flexibility, meeting requirements and compliant for all markets world-wide. It is the engine the drives a variety of gaming facilities with three intrinsic wagering channels; internet, call-centre, and retail (manned and unmanned Point of Sale terminals). BEToptions is an ideal outsource firm for large-scale sports and race wagering operations with requirements that cannot be met by an off-the-shelf product.
About Phantom Fiber Corporation
Phantom Fiber Corporation (OTCBB:PHFB) is the leading developer of wireless platform software that enables its customers to deliver high-performance applications across global communications networks to mobile users. Phantom Fiber's wireless platform extends the rich multimedia content and user experience of existing Internet web sites securely and instantly to a wide array of wireless devices including PDAs and programmable cellphones. This platform is already deployed to most segments of the global gaming industry and can be used by enterprises seeking to implement high performance mobile applications in such markets as: remote medical record access; securities research and trading; and the management of logistics and distribution. Phantom Fiber's Advanced Wireless Platform supports over 1000 mobile devices worldwide.
For Investor Relations, please contact:
The Investor Relations Group - Jordan Silverstein
11 Stone St., 3rd fl, New York, NY 10004
(212) 825-3210
(212) 825-3229 (FAX)
jsilverstein@investorrelationsgroup.com
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