Versent Corporation Sale of Starburst Coin Machines Inc.

TORONTO--(BUSINESS WIRE)--May 5, 1999--

Versent Corporation (TSE:VTC) today announced that the sale of Starburst Coin Machines Inc. to a management group led by Mr. Leonard Keywood closed yesterday.

The proceeds of the sale (subject to post closing adjustments) are comprised of cash and a note which will be used to retire Versent term debt.

On a going forward basis, the sale will reduce Versent's consolidated revenue, profits and EBITDA, but will have little impact on the Corporation's free cashflow.

The sale is part of Versent's strategy to focus more of the Corporation's resources on its core laser tag business. While Versent is selling Starburst, the companies have entered into a long-term agreement whereby Starburst will continue to supply coin-operated amusement machines to the majority of Versent's 60 existing and future Corporate Laser Quest Centres.

Company Profile

Versent Corporation is a diversified leisure and entertainment company with four related operating divisions: -0-

--   Laser Quest, the world's premier laser tag concept, with over 60
     owned and operated Laser Quest Centres in North America;

--   Threshold Electronics, a specialty electronics design and
     manufacturing company which produces the Laser Quest equipment,
     and operates one of Canada's largest private label ABM networks
     under the brand name "Laser Cash";

--   Chromacolour, the world's leading supplier of specialized paint,
     paper, and related products to the animation industry; and

--   Color Me Mine, the world's leader in franchising "paint-your own"
     ceramics studios.

There are approximately 9.3 million shares of Versent Corporation issued and outstanding and the Company's trading symbol on the TSE is VTC. Visit our website at www.versent.com.

The Toronto Stock Exchange has neither approved nor disapproved of the information contained herein.