betbull - The European Betting Exchange Plc.

euro adhoc: betbull - The European Betting Exchange Plc.
Quarterly or Semiannual Financial Statements
Betbull Plc Announces its Results for the Three Months to 31st March 2005

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31.05.2005

Betbull - The European Betting Exchange Plc ("Betbull" or "the Company") announces its 1st quarter results.

Following its announcement in February, the Company has continued with its B2B strategy developing major strategic alliances with key industry partners, whilst maintaining a low cost structure. Quarter 1 trading has as such been in line with expectations, and as at 31st March 2005 Betbull retained a cash positive position of £8 million.

During the period betbull successfully launched www.betbull.de the first licensed gaming exchange, offering live, person-to-person, no limits betting on German horse racing in co-operation with leading German racing associations.  Betbull has sponsored major race days at Munich and Baden Baden race courses, providing exchange betting facilities and demonstrations to the public - pictures will be published on our website www.betbullplc.com.

Commenting on the announcement, Günter Schmid, CEO of Betbull said:

"We are delighted at the progress made during the first quarter, resulting in the successful launch of our live person to person betting site beginning of April - which is unique, in that it is the first and only exchange which allows the racing industry to participate in - and benefit from - the commissions generated."

Commenting on current and future developments, Simon Bold, COO said:

"We have achieved significant progress this year with our plans to sign strategic partnerships. In addition, Betbull would be well positioned to take advantage of any growth in the German retail sector by the provision of a fixed odds product generated from betting exchange prices. We look forward with optimism to the forthcoming year."

This press release plus 2005 Quarter One consolidated balance sheet and the consolidated profit and loss account are available on the www.betbullplc.com site.

ENDS

Contact Alex Mackey, Catullus Consulting (+44 7773 787 458) Catriona MacNiven, Investor Relations Günter Schmid, CEO (upon request) Simon Bold, COO (upon request)

Fon +35 052561 Fax +35 044554 betbull - The European Betting Exchange Plc ("betbull") One London Wall London EC2Y 5EB

About betbull betbull’s vision is to become the "bookmaker’s and racing associations exchange".  Bettors would enter the exchange through existing accounts via a fully integrated exchange betting offering. Midterm a major fraction of the single- and live bets will be traded, cleared, and settled through betbull’s exchange.  The high calibre management team (Günter Schmid, CEO and Simon Bold, COO) can resort not only to state of the art bookmaking and operating know how but also relevant M&A expertise and track record.

betbull was started in 2004 as a joint venture of betandwin.com Interactive Entertainment AG (stock quoted on the Viennese stock exchange) and Fun Technologies Plc (formerly traded as CES-Software Plc, stock quoted on the Alternative Investment Market in London) and is stock quoted since October 2004 on the Viennese stock exchange ("BETB", "BETB.VI").

Exchange betting enables person to person betting over the Internet. Exchange betting offers the following advantages over placing bets with a bookmaker:  Better odds, no limits, and betting for or against an outcome.  

For further details please refer to the company website www.betbullplc.com.

This communication contains statements about the future (prognoses). Those statements are based on the Directors’s opinion, assumptions made by the Directors, and information available to the Directors. One or several factors that the Directors cannot foresee with certainty could result in outcomes and events that deviate from the prognoses.  All prognoses are valid only on the date of their announcement.  betbull has no intentions to and is not obliged to update prognoses or to adapt prognoses to future events or developments.

end of announcement                                euro adhoc 31.05.2005 14:34:39
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Further inquiry note: betbull - The European Betting Exchange Plc. Catriona Macniven Investor Relations Tel.:    +350 77331 e-Mail: c.macniven@betbull.com

Branche: Casinos & Gambling
ISIN:      AT0000615331
WKN:        
Index:    
Börsen:  Wiener Börse AG / stock market



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