PGGG Pegasus Gaming Corp (CE)

Pegasus Gaming Corp. ("Pegasus") (Pink Sheets:PGGG), is pleased to announce that the company has completed the acquisition of the exclusive license distribution rights from Chimera Technology Corp. to a suite of Internet Casino platforms and applications. With the acquisition completed, the company is ready to launch these applications to the explosive online gaming markets space. To view the corporate presentation with sound, please click on the following link. www.pegasusgaming.com/slide.pps The Pegasus business plan calls for owner operators to be provided with a complete Turn Key Solution on an Internet Gaming Platform, which will include a sports betting, a suite of Casino games and thoroughbred horse racing. Backed up with complete back end management services to operate the day to day operation of a gaming web site, this will undoubtedly make this offering one of most unique Turn-key gaming solutions in the market. With the recent successes of gaming operators in the UK, we expect that a significant interest will be evident from potential licensees and we are projecting that up to 5 licensees could be on board by year end, which would be equal to an average of 1 new licensee per month. Mr. David Cheng has been appointed President and Chief Executive Officer of Pegasus Gaming Corp. and states, "We are very excited about the package that we have put together and are in the process of appointing sales agents to aggressively market our product in Europe and Africa. With gaming revenue estimated to increase substantially and according to the latest reports from Christiansen Capital to show increases from US$8.5 Billion in 2004 to an increase of US$ 22.7 Billion by 2009, Pegasus will be well positioned to meet the operational needs of new entrants to the market and to support expansion for existing operators." For more information on Pegasus Gaming Corp. Please visit our corporate website at: http://www.pegasusgaming.com Pegasus Gaming Corp. is an Arizona-based I-gaming software and e-commerce services company servicing clients from Europe and Africa. The company licenses a suite of on line products, including casino, sports betting, and pari-mutuel horse betting. In addition, the company provides a state-of-the-art complete back-office management system that operates all e-commerce transactions, gaming Web sites, accounting system and licensees' management/reporting platform. Tel: 440-445-4336 Email: info@pegasusgaming.com The above statements in regard to Pegasus, 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.