7th Mar 2007 07:05
Playtech Limited07 March 2007 7 March 2007 Playtech Ltd ("Playtech"or "the Company") Contract signed with Foundation Group Ltd Agreement to supply P2P Gaming in China Further to Playtech's previous announcement with reference to early stagenegotiations with a pure Asian-facing gaming business, the Company is pleased to announce today that it has signed a contract with Foundation Group Limited("Foundation Ltd") to supply Peer to Peer (P2P) gaming software withinChina. Foundation Ltd is a listed company in Hong Kong and is a new venture, whosesubsidiary, has recently signed licensing agreements with an operating arm ofthe Communist Youth League (CYL). CYL is responsible for the implementation ofChina's 'Green Internet Policy' so as to provide duly licensed play forcash prizes P2P tournament games via internet cafes situated throughoutChina. Foundation Ltd is currently undertaking a fund raising exercise. Further details of the company's plans are therefore restricted at this stage. It is intended that Playtech will give a further update regarding this contract sometime later this month. This is the second contract that Playtech has signed to supply the Chinesemarket in the past three months and the first nationwide contract of thisnature. Avigur Zmora, Chief Executive Officer of Playtech, commented today: "Although Foundation Ltd is in the very early stages of its development, itspotential is very exciting for Playtech and we look forward to working closelywith Foundation to develop this potential." - ends - For Further Information: Avigur Zmora, CEO, Playtech Ltd c/o Bell Pottinger Tel: +44 20 7861 3232www.playtech.com Peter Otero / David Rydell / Amy Rajendran Bell Pottinger Corporate & Financial Tel: +44 20 7861 3232 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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