Fredericton Exhibition and Horsepower Finalize License Agreement

FREDERICTON, New Brunswick -- (PRESS RELEASE) -- Sungold International Holdings Corp. (the "Company") announced today that its wholly owned subsidiary Horsepower® Broadcasting Network (HBN) International Ltd. ("HBN") and Fredericton Exhibition, operating under Fredericton Raceway have entered into a five year Horsepower® Authorized Racetrack Affiliate license agreement (A.R.A.). Horsepower® is an exciting progressive pari-mutuel wager that is designed to generate Million dollar+ prizes daily for race fans buying Horsepower tickets at participating racetracks. The proprietary "Quick 6® World Pool" bet will give Fredericton Raceway the ability to offer continuous progressive multi million dollar jackpots on a regular basis, while the "Lucky Pick One" bet is a unique and simple way to attract new race fans to the track. Additionally, Horsepower® will provide Fredericton Raceway with the opportunity to sell additional revenue generating spots to regional sponsors and local advertisers on the dedicated Horsepower® screens between virtual races. These spots that will capitalize on a 'captured' Horsepower® viewing audience are expected to generate additional revenues on a daily basis for Fredericton Raceway.

Located in Horsepower's fourth North American jurisdiction, the province of New Brunswick, Fredericton Raceway has conducted live, harness racing programs since 1870. Currently the 1/2-mile track, one of three in the province, is open year round offering a platform of both live and simulcast racing schedules. During fiscal 2003-2004, total gaming revenues for the entire province of New Brunswick surpassed $307 million with almost a third of this total derived from pari-mutuel wagering on horse racing.

Brent Briggs, General Manager of Fredericton Raceway believes that Horsepower® should prove to be the perfect and unique complement to the track's year-round live and simulcast schedule, and will not only help attract new bettors, but ultimately give Fredericton's purses a needed 'shot in the arm' as well.

Horsepower® is a real-time, progressive, pari-mutuel racing system that has been custom developed for racing and extensively tested to exceed international standards. Horsepower® is available exclusively to approved licensed racetracks and their licensed off-track betting facilities. HBN is mandated to market pari-mutuel wagering, on racing of all breeds and to aggressively market the Horsepower® brand to increase attendance, wagering and purses at all member tracks. The Horsepower® Quick6® World Pool and the Horsepower® Pick1 random win bets are sold simultaneously at multiple racetracks in strips of ten races to bettors utilizing the tracks' existing tote machines. The Horsepower® virtual races and the Horsepower® $million+ Quick 6® rolling live jackpots are displayed on existing monitors between live races. The Horsepower® Quick6® World Pool bet is a live, progressive, pari-mutuel wager with random odds tested to be approximately 2.1 million to one for the lucky fan picking the first six of fourteen virtual horses in exact order of finish in any Horsepower® virtual race. The Horsepower® system operates in real time, 24x7, on a secure and fully scalable Sun Microsystems and Cisco environment. Horsepower® may be viewed for fun at www.horsepowerworldpool.com. Visit the Sungold International Holdings Corp. website at: www.sungoldintl.com. Sungold® is a fully reporting public corporation trading as SGIHF-OTC.

Since the A.R.A. program was introduced in October of 2003 at Santa Anita Park, on the occasion of the Breeders' Cup, HBN has received extensive interest from potential A.R.A.'s both in North America and Internationally. In 2004 HBN is accepting A.R.A. applications from licensed racetracks in North America and the Caribbean. Horsepower® wagering at Fredericton Raceway is subject to pari-mutuel approval and a successful HBN technical racetrack evaluation that is approved by both Fredericton Raceway and HBN.