Take1 Technologies signs European VLT contract

BEIJING, China – (PRESS RELEASE) -- PacificNet, Inc. (Nasdaq: PACT), a leading provider of Customer Relationship Management (CRM), mobile internet, e-commerce and gaming technology in China, announced today that its Take1 Technologies ("Take1") subsidiary has been selected by a leading gaming operator to provide 400 electronic Video Lottery Terminal (VLT) machines in Europe. Since the introduction of its new line of electronic gaming machines (EGM), Take1 Electronic Slot Machines, Amusement with Prizes (AWP) Machines, Video Lottery Terminal (VLT) Machines and Electronic Bingo Machines, Take1 has received positive reviews by the slot, AWP, video lottery and bingo operators. Terms of the agreement were not disclosed.

PacificNet's Take1 subsidiary has been in the business of designing and manufacturing electronic multimedia entertainment kiosks, coin-op kiosks and machines, electronic gaming machines (EGM), bingo and slot machines, AWP (Amusement with Prizes) games, server-based downloadable game systems, and Video Lottery Terminals (VLT) such as Keno and Bingo machines, including hardware, software, client-server systems and cabinets. PacificNet's Take1 subsidiary is based in Hong Kong with offices and a hardware manufacturing facility located in Shenzhen, China.

Software for the Take1 bingo machines is co-developed by PacificNet's software outsourcing unit, Pacific Solutions Technology, a CMM Level 3 certified software development center with over 200 software programmers located in Shenzhen, China. Recent regulatory changes in Europe and Asia have opened the door to more widespread electronic slot operators and PacificNet's Take1 subsidiary has had success in entering the European and Asian market as a provider of electronic slot machines.

"We are delighted to receive yet another significant order by a leading gaming operator. The selection of our Take1 electronic gaming machines by a leading video lottery operator marks another big win for Take1 and further enhances PacificNet's strong entrance into the global gaming market," said Tony Tong, Chairman and CEO of PacificNet.

"With our new focus on the rapidly growing gaming market, we will continue to pursue becoming a leading provider of electronic gaming machines, slot machines, VLT and bingo machines to the slot and VLT operators and gaming industry. We believe that we have the right gaming products, software and hardware expertise, research and development center with CMM Level 3 certification, local service staff, the right channels and partnerships, and the experience that is necessary to succeed in this market. We believe that PacificNet is poised to take advantage of the anticipated upcoming replacement cycle for electronic gaming machines and the current Asian and global gaming expansion."