LAS VEGAS, Feb. 25, 2003 (PRIMEZONE) -- Chimera Technology Corp. (Pink Sheets:CMRA), through its wholly owned subsidiary 724Bingo.com, an innovative Internet Gaming Software Provider/Licensor and e-Commerce services company, today announced it has consummated its first license agreement with Market System Inc. ("Market") of Singapore, for a non-exclusive license to utilize Chimera's Internet gaming suite. Chimera has completed all necessary due diligence on "Market" and will begin to work with "Market's" management to design the framework that include the deployment of an Internet website powered by the Chimera Internet gaming suite & management platform.
The Chimera gaming suite includes an online multi-players Bingo platform, which allows thousands of people to participate in any one single bingo game on a "pay to play" basis with potential huge prizes, through the Internet, a standard world class Sports Book Wagering platform that allows players from all over the world to wager on their favorite sporting events.
Ken Chua, President/CEO of the company stated," We are extremely pleased about the consummation of our first license with Market System Inc. This marks another tremendous milestone achievement by our management team. We will continue to attack and meet our milestones to ensure the readiness of our World Launch for all our licensees scheduled for this summer."
About Chimera Technology Corp.
Chimera Technology Corp, a Nevada-based I-gaming software and e-commerce services company, is competing in the over $5 billion annual online gaming marketplace. The Company is an international developer, licensor, and provider of online gaming products, including online Bingo, casino, sportsbook, and pari-mutuel betting.
For more information about Chimera Technology Corp., visit the company's Web site at: http://www.chimeratechnology.com/.
724Bingo.com, a subsidiary of the Company, licenses its gaming software to third parties for an initial licensing fee and monthly royalties. X-Generation Technology Corp., a joint venture partner of the Company develops gaming software and web pages for 724bingo's licensees.
To obtain further info on Chimera Technology Corp. please visit Internet websites: http://www.chimeratechnology.com, 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 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.
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