Starnet Announces Contract Signing for the Larry Holmes Sportsbook and Casino; To Report Earnings and Hold Conference Call on Dec. 15

Business Wire, Dec 15, 1998

WILMINGTON, Del.--(BUSINESS WIRE)--Dec. 14, 1998--Starnet Communications International Inc. (OTC BB:SNMM) ("Starnet") is especially pleased to announce that it has entered into an on-line gaming promotional agreement with Larry Holmes, former heavyweight boxing Champion of The World and WBC crown holder.

Sports fans and betting aficionados are invited to "Bet With The Champ" (www.betwiththechamp.com) at Larry's Internet Sportsbook and Casino. Holmes, who is ranked as one of the Top Ten heavyweight boxers of all time, held the WCB crown from 1978 until 1985. He is the second longest reigning champion next to Joe Lewis and is second only to Rocky Marciano for the record of straight wins with 48-0.

Larry Holmes' 1978 battle with Ken Norton for the World Boxing Council championship is considered one of the classic heavyweight bouts of all time.

A Pennsylvania native, Holmes' boxing career has spanned 25 years with a record of 66-6 including 42 knockouts and he has fought many boxing greats, including Mike Tyson, Evander Holyfield, Gerry Cooney, Ken Norton, Michael Spinks and Muhammed Ali. Holmes is scheduled to face fellow heavyweight legend George Foreman in a non-title, 12-round bout in Houston on Jan. 23, 1999.

The fight will be broadcast live via the Internet and the "Bet With The Champ" Sportsbook will be accepting wagers for this important bout.

Larry Holmes owns and operates several nightclubs and restaurants and has considerable real estate holdings that include banking facilities and a courthouse. He also published his autobiography, Against The Odds.

"I am really looking forward to the opportunity of working with Larry Holmes on this Internet Sportsbook and Casino site. Mr. Holmes has a unique talent for capitalizing on his exceptional abilities as an athlete and turning them into a business success. I am predicting that the 'Bet With The Champ' Sportsbook will become a major destination for those who would like to place sports wagers and use the Internet for casino style games," said Bret Conkin, Starnet's Vice President Marketing.

PLEASE NOTE: On Dec. 15, 1998 a conference call will be held with CEO Mark Dohlen in order to discuss the results of Starnet's 10Q and other recent events. The call will be held at 4:15 p.m. ET, after market close. The public is invited to participate by calling 888/301-5830 (904/779-4769 in Canada). Holmes plans to participate in the call.

World Gaming Services Inc. ("World Gaming"), a wholly owned subsidiary of Starnet, will be the operator through which the on-line wagers and sportsbook bets may be placed at the "Bet With The Champ" Internet site. World Gaming is a licensee of Softec Systems Caribbean Inc. ("Softec") and Softec is another of Starnet's wholly owned subsidiaries.

Because of the legal uncertainties surrounding on-line wagering in North America, World Gaming does not accept wagers from within the United States and Canada.

Softec will be providing the entire on-line gaming system used by the "Bet With The Champ" site. The system incorporates Starnet's proprietary 128-bit encryption and credit card transaction and processing technology (STAR-MX). Starnet trades on the NASD Bulletin Board as a Fully Reporting Issuer. Starnet's trading symbol is SNMM.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical fact are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays in testing and evaluation of products and other risks detailed from time to time in Starnet's fillings with the Securities & Exchange Commission.