Agreement for Asian Sports Betting and Casino Games.LAS VEGAS--(BUSINESS WIRE)--June 30, 1998--Netbet Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :NBET)(the "Company") Tuesday announced that it has been informed by CSP (1) (Certified Systems Professional) An earlier award for successful completion of an ICCP examination in systems development. See ICCP. (2) (Commerce Service P Ltd. (Casinos of the South Pacific or "COSP COSP Centre d'Orientation Scolaire et Professionnelle et de Psychologie Scolaire (Switzerland) COSP Code of Standard Practice (AISC) COSP Conférence d’Orientation Stratégique et de Programmation ") that COSP has entered into an Agreement with an Asian company, Shanina Investments ("SI"). COSP is an offshore on-line Internet casino located in the Cook Islands. Netbet has an exclusive Agreement with COSP whereby Netbet receives 80% of COSP's net revenue in return for Netbet supplying technology, marketing and financial consulting to COSP. SI has developed a sports betting Sports betting is the general activity of predicting sports results by making a wager on the outcome of a sporting event. Perhaps more so than other forms of gambling, the legality and general acceptance of sports betting varies from nation to nation. program for Asian baseball games and has under development sports betting programs for Asian Sumo sumo: see wrestling. sumo Japanese form of wrestling.A contestant loses if he is forced out of the ring (a 15-ft circle) or if any part of his body except the soles of his feet touches the ground. wrestling matches and Asian soccer games. SI's sports betting program is currently being installed at COSP's Internet site in the Cook Islands. In addition, SI, under the terms of the Agreement, is to complete translation and installation of Asian language versions of COSP's existing Internet-based casino games. They will also market andpromote these Asian games The Asian Games, also called the Asiad, is a multi-sport event held every four years among athletes from all over Asia. The games are regulated by the Olympic Council of Asia (OCA) under the supervision of the International Olympic Committee (IOC). in selected Asian regions. The terms of the Agreement between COSP and SI include a 50/50 sharing of net revenues and a marketing/technology interchange. Don Wright, chairman of Netbet stated: "The Agreement between COSP and SI is consistent with COSP's focus on Asian markets and is expected to yield significant future revenues to our company through our 80% net revenue sharing revenue sharing Funding arrangement in which one government unit grants a portion of its tax income to another government unit. For example, provinces or states may share revenue with local governments, or national governments may share revenue with provinces or states. Agreement with COSP." Netbet develops and licenses Internet technology. The company has an exclusive revenue sharing Agreement with an offshore, on-line casino, Casinos of the South Pacific (www.cosp.com), for 80% of the COSP net revenue. The company provides technology, games and assistance in marketing to its licensees. For additional information call Pat Charles or Jim Brewer at 800/549-6546. Netbet is an OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB quoted company. Some statements in this news release are forward looking and are subject to certain risks and uncertainties. These risks and uncertainties include but are not limited to economic conditions, changes in laws or regulations, demand for products and services of the company and the effects of competition. These risks and uncertainties could significantly affect anticipated results in the future and actual results may differ materially from any forward looking statements.
CONTACT: Netbet Inc.
Pat Charles or Jim Brewer, 800/549-6546
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