Solomon Telekom Enters Negotiations With New Discoveries

Business Wire, March 5, 1999

SYDNEY, Australia--(BUSINESS WIRE)--March 5, 1999--Solomon Telekom has entered negotiations with New Discoveries Publishing Corp. (NASDAQ OTC BB:NWDP) to license its software to companies entering the sportsbook and casino gaming market.

Solomon Telekom is a joint venture agreement between the Solomon Islands government, who has a 58.1% shareholding, and Cable and Wireless Plc, United Kingdom (NYSE:CWZ) being the remaining shareholder.

Under the agreement, Cable & Wireless Plc has been granted a management contract to provide Solomon Telekom with the operational and technical staffing support. Their objective is to control and maintain the national and international telecommunication services to Solomon Telekom.

It is anticipated that royalties to New Discoveries may be between US$10 million and US$20 million per annum for each licensed casino.

Peter Michaels, chairman and chief executive officer of New Discoveries Publishing Corp., said he believed this would be a fantastic opportunity for the government of Solomon Islands.

"We are very pleased to be able to assist in offering telecommunications services to the Solomon Islands," he said.

New Discoveries Publishing Corp. has licensed its software to Australian Media Co. (AMC) for Internet gaming capabilities, and will receive royalties from this arrangement.

AMC is also establishing facilities for the delivery of home gaming via an interactive satellite television network based in Sydney.

In the past three months since listing on the Australian Stock Exchange, Cable & Wireless Optus (ASX:CWO) has risen 115% from $1.85 to a high of $3.98.

In the United States a similar story has been told by telecommunications and Internet stocks with Cable & Wireless Plc (NYSE:CWZ) rising 29% from $43 to $55; Excite Inc. (NASDAQ:XCIT) has risen 113% from $50 to $106 5/8; Yahoo (NASDAQ:YHOO) has risen 39% from $110 to $153 7/16; Microsoft (NASDAQ:MSFT) has risen 26% from $119 to $149 5/8 and Lycos Inc. (NASDAQ:LCOS) has risen 37% from $65 to $89.

New Discoveries Publishing, a Nevada-based company, was formed in 1993 and approved for public trading in September 1998. It is dedicated to providing high quality gaming and entertainment with an emphasis on customer service.

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.