LAS VEGAS, Sept. 22, 2004 (PRIMEZONE) -- Chimera Technology Corp. ("Chimera") (Pink Sheets:CNOC) (http://www.chimeratechnology.com) is pleased to announce the addition of a "Survival Sports Pool" gaming platform to their current offering. Chimera is currently in the process of integrating this platform and anticipates it will be completed within the next 60 days.
This new initiative will allow Chimera and its licensees to take advantage of the growing popularity of Survival Sports Pools, which can be applied, to a number of sports including Football, Baseball, Hockey, Basketball, Golf etc. In particular, Survival Football Pools have garnered much attention and publicity as the simplicity of the game and large payouts has made it appealing to many fans. ESPN's much-publicized "The Eliminator" is based upon the Survival Football format.
The rules of the Survival Pool are simple and therefore appealing to even the most casual of sports fans. Each week contestants must select a team they expect to win straight up, with no point spread. The catch is, contestants can never select the same team twice, so they must manage their choices wisely and plan ahead. If the contestant' team wins, they advance, if they lose, the contestant is eliminated. The last contestant left standing wins the grand prize.
While there can be no true number ascertained to quantify the amount of money flowing into pools every year, due the immense number of private pools being run, it is estimated that this market is easily in the billions of dollars.
Chimera President Ken Chua stated, "The Survival Sports Pool addition makes our already incredible offering to potential licensees that much more enticing. The simplicity of the Survival Sports Pools makes them very accessible to all levels of sports fans, from the casual observer to the die sports fan. In addition, the margins for this type of game are typically in the 25-35% range which we believe licensees will find very appealing."
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 CNOC@Agoracom.com.
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 $6 billion annual online gaming marketplace, projected to be more than $10 billion by 2004, according to Computer Almanac Industry. The company 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 pari-mutuel 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.
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.