Corporate Summary For RTG Ventures Inc

Business Wire, Oct 24, 2003

Business Editors

NEW YORK--(BUSINESS WIRE)--Oct. 24, 2003

RTG Ventures is a multimedia gaming company that has acquired exclusive rights from the Sports Ministry of the Peoples Republic of China to stage a number of games of skill, including the Chinese Chess Championship (Xiangqi), Mah-jong, and Chinese Poker (Sheng-Ji). RTG's technology is capable of accommodating an infinite number of simultaneous players for each of these skill games concurrently. Skill games are played daily by hundreds of millions of people in China and have significant revenue opportunities. The Company plans to establish strategic alliances and joint ventures to maximize these revenue streams and to build a global image as a recognized brand. RTG Ventures expects to see significant revenue opportunities from gaming participation, sponsorship of events from western corporations, advertising, merchandising, satellite television rights to land based events and database marketing.

The Market Opportunity

The Chinese economy is experiencing huge economic growth resulting in an explosion in spending on leisure activities. The country has 400 million television sets, 220 million mobile phones, growing by 5 million phones per month, and has doubled its Internet connections in the last three years to 100 million subscribers. The Chinese Chess Academy alone has 155 million registered players. China's middle class population continues to expand. Latest figures show that the 1.2 billion population in the Peoples Republic of China to have a GDP per person of US$4,700 with the consumer economy growing in excess 8% per year. Recent data suggests growth for 2003 forward could be 11 - 12% per year.

Business Strategy

The key to business success in China is careful development and nurturing of specific political, business, and government relationships. RTG Ventures has existing exclusive contracts for games of skill throughout the Far East and, in particular, the Sports Ministry of China.

RTG Ventures Inc.'s most important relationship is with Ourgame.com, one of the biggest game sites in the world, with 45 million registered users.

Products

The company has acquired exclusive rights for the exploitation of championship events of the following skill-based games:

Chinese Chess (Xiangqi) until 2005.

When this event was first staged in 2001, it was one of the top ten events that year on sports channel CCTV-5, one of the premier cable television broadcasters in China. The event website attracted over 7,000,000 new users in 2002. The game is one of pure skill with no chance element and is heavily promoted and endorsed by the Chinese authorities, and represents much of the admirable characteristics of the Chinese people.

Mah-jong and Chinese Poker (Sheng-Ji) until 2008.

Mah-jong is the most popular game in the world, but particularly throughout Asia and China. Mah-jong is played daily by hundreds of millions of people. Chinese Poker is a similar dice-vase game.

The Company has focused initially on these three events, but has the rights to several others as well including Japanese Chess (Shogi), GO(Weigi), Bridge, Bingo, and others.

Sponsorship/2008 Olympics Beijing

Chinese consumers are increasingly purchasers of western branded goods and services. This trend will be reinforced by the staging of the 2008 Summer Olympics in Beijing, which is expected to attract up to $10 billion in sponsorships, At this point RTG Ventures plans to have one of the largest databases in China and an established brand in its own right.

Management Team

Sir Brian Wolfson, Chairman, Non - Executive Chairman, Far East Challenges, Plc., 2002 - current; Chairman, Fruit of the Loom, Inc. (OTC - FTLAF) during its turnaround from 2000 - 2002 having been appointed a director in 1992; Chairman of UK-listed Wembley Plc from 1986 to 1995; Director of Scientific Games Corporation (NASDAQ - SGMS) of New York since 1988; Director, Playboy Enterprises (NYSE - PLA) in 1996; Founder Member of the Joseph H. Lauder Institute (International MBA), University of Pennsylvania; First non-North American President of the Young President's Organization (YPO); Honorary Doctorate of Law, University of Liverpool and an Honorary Doctorate of Business Administration, John Moores University.

Linda Perry, Director and Chief Executive Officer, Far East Challenges Plc., 2002 - current; Senior Advisor to the Board of Balli Klochner Holdings Plc, 2001 - 2002; Director and member of the Executive Committee of Churchill Insurance Group Plc, a division of Credit Suisse Group, 1999 - 2001; Senior Executive at Exxon Corporation (NYSE - XOM) holding a series of general management positions from 1983 to 1997; MBA, Harvard Business School.

Barrington J Fludgate, Chief Financial Officer, previously held position as Chief Financial Officer for a number of UK and US companies. Expert on US securities legislation and specialized experience in assisting non-US companies to enter the US public market.

The Company has an Advisory Committee which includes a number of senior individuals in Chinese State administration, Chinese sports and games and Japanese media.