VANCOUVER, British Columbia, Feb. 21, 2006 (PRIMEZONE) -- Sweetprize Entertainment Inc. (a subsidiary of Presidents Financial Corporation (Pink Sheets:PZFC)), a provider of online poker services, today announced the planned launch of a major addition to its current online offering of poker services at www.sweetprize.com. With this new feature, the VIP Member Program, Sweetprize will bring yet another exciting new twist of to the game of online poker.
The VIP program will be a premium service offered in addition to the free membership already provided on the site. VIP members will have access to a password protected area where exclusive inside poker tips and playing techniques are revealed. VIP members will also have access to special hosted poker rooms and be able to play online with Sweetprize Girls, a selected team of house players who chat and play poker with VIP members to maximize enjoyment of the game. VIP members will also receive important advanced notifications of major poker events and tournaments.
The aim of the VIP program is to create a unique and enjoyable environment for online poker players to learn techniques and exchange poker knowledge. The program is scheduled to launch in March, 2006.
Sweetprize further announced today that Mr. TL Wong and Mr. Yeo have stepped down from their respective position due to other obligations. Sweetprize also announced the appointment of Mr. Syed Ahmad Safri as the CEO of Sweetprize. As the Company grows its operation in Asia, further executives will be enlisted in accordance to their respective specialties.
About Sweetprize Entertainment
Sweetprize Entertainment Inc. is an online gaming company who will shortly be launching a non-gambling multi-player online poker game service where online card players can legally compete for a range of daily, weekly, monthly and annual prizes from iPod nanos to a Porsche Cayman sports car. The company's web site Sweetprize.com targets well educated, high-income players who prefer to play in a legal environment for prizes.
Sweetprize offers a legal version of the game where participants in online poker tournaments compete to win prizes rather than bet against each other as real-money poker sites do. Revenue for the company is generated through V.I.P. membership fees (basic membership is free) and advertising. Sweetprize.com does not require special governmental approval or license.
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.