Chimera Business Update.

LAS VEGAS -- Chimera Technology Corp. ("Chimera") (Pink Sheets: CNOC) (http://www.chimeratechnology.com/) is pleased to provide an update as to operations.

The Web site for the new licensee Pegasus Gaming Corp. (www.pegasusgaming.com) is completed, and system integration is in progress, which will enable the site to be beta tested before year end. We have been advised that Pegasus has received several expressions of interest to sublicense the gaming platform and applications thereof, from European companies and that ongoing negotiations are in progress to provide additional business details, as well as site demonstrations, to these interested parties. Further, we have been advised that Pegasus will appoint a chief European advisor in January 2005, who has a wealth of experience in the gaming industry. Chimera has seconded Alexander Anderson as company secretary to Pegasus to assist with the restructuring from a development company -- Grade Point Adverage Inc. (Pink Sheets: GPTV) -- to newly named Pegasus Gaming Corp. With the purchase of the exclusive operating license by Pegasus from Chimera being funded in part by cash and largely in shares, it was felt that shareholders' interest in Pegasus would be well served by Chimera taking an active role in the initial operations of Pegasus, including providing support at all levels, to assist Pegasus to move forward to acquiring new license sales.

We see that Pegasus would commence live operations in the first quarter of 2005.

www.724SportsBook.com, one of Chimera's licensees, continues to see increases in client activities and has recently initiated a marketing program executed by X-Generation Marketing, which resulted in adding several hundred new clients to their membership base, as well as seeing a steady increase in gross handles. Actual figures will be released in the new year once they are made available to us. Royalty fees to Chimera will commence in 2005. In the last quarter of 2004, "724" completed significant beta testing, including the addition of the flash casino platform and the survivor pool platform, which, coupled with continued development of the casino games programs to include multi-table poker and other improvements, made for an agreement to waive royalty payments in 2004 to be evident. We have been advised that the gaming platform applications and procedures have been well received for the most part, and any improvements identified will be added to the system, as appropriate.

BetVoodoo.com is not fully operational at this time and we have been advised that operations are scheduled to be commenced as soon as is practical in 2005.

Corporate plans for filing with the SEC, Form 10SB, to advance Chimera's trading status to the OTC-BB and becoming a fully reporting issuer, due to the fact that Chimera's year end is Dec. 31, auditor's advice is to initiate Form 10SB as soon as the year-end audit has been completed. Chimera anticipates filing with the SEC sometime between January and February 2005, the Form 10SB.

The engagement of X-Generation Marketing to assist licensees with the creation of their Web presence, to develop a marketing plan, and to assist with the creative processes of Internet operations has also been well received by both new licensees and prospective licensees, who require appropriate information and demonstrations thereof as to the utility of the platform and applications. We see this continued representation as strongly contributing to the company mission statement: "To provide FULL TURNKEY, branded solutions to the Internet gaming operator."

e-Network in Costa Rica is the administrative company responsible for the day-to-day operation of licensees and all aspects of the operations. From the modern and very secure company site in San Jose, Costa Rica, under the capable control of an experienced local manager, the office has now been fully staffed with experienced personnel and has sufficient room to handle staffing and equipment increases, if required, for the next year.

This press release is available on the company's official online investor relations site for investor commentary, feedback and questions. Investors are asked to visit http://www.agoracom.com/ and view the "Chimera Technology" Investor Discussion and Contact Forum. Alternatively, investors can e-mail AGORA Investor Relations directly at [e-mail].

About Chimera Technology Corp. (http://www.chimeratechnology.com)

Chimera Technology Corp. is a Nevada-based I-gaming software and e-commerce services company, competing in the more than $20 billion annual online gaming marketplace. The company, through a wholly owned subsidiary, is an international developer, licensor, and provider of online gaming products, including online bingo, casino, sports book, and pari-mutuel betting. Chimera Technology Corp. has successfully developed a supreme multi-player online Internet bingo technology, a second-generation world-class sports books wagering platform and a full line of online Internet casino games suite. In addition, the company has developed its state-of-the-art "BIRDS EYE" System, a complete back-office management system that operates the entire e-commerce transactions, gaming Web sites, accounting system and licensees' management/reporting platform that is second to none, giving Chimera an opportunity to establish a leadership position in this enormous market. Utilizing the technology platforms, Chimera further contracted e-Network in Costa Rica to provide turnkey solutions to third-party operators, to operate their privately branded Internet game sites, backed-up complete hosting services, toll-free customer support telephone capability, e-commerce solutions and all related back-end services.

To obtain further information on Chimera Technology Corp., please visit Internet Web sites http://www.chimeratechnology.com/ and http://www.724bingo.com/.

The above statements in regard to Chimera, which are not purely historical, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including Chimera's beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and are based on information available to the parties as of such date. It is important to note that the actual outcome and the actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties, such as technological, legislative, corporate, financial and marketplace changes.