Chimera Signs Exclusive License with Grade Point Average

Business Wire, Nov 2, 2004

LAS VEGAS -- Chimera Technology Corp. ("Chimera") (Pink Sheets: CNOC) (http://www.chimeratechnology.com) is pleased to announce the signing of a Letter of Intent ("LOI") with Grade Point Average Inc., an Arizona publicly traded company (Pink Sheets: GPTV) operating the gaming portal (http://www.PegasusGaming.com). The Letter of Intent provides the exclusive right to market Chimera's gaming platforms within the European continent (including Russia) and the continent of Africa.

Recent research conducted by The Barclay Bank Group in London indicated that the combined revenue reported by the major wagering outfits in Europe alone, has surpassed 11.6 billion dollars in 2003. It seems the research conducted by the Computer Almanac Industry two years ago has not included this vital market in the continent of Europe.

Pegasus Gaming Corp. President David Cheng commented, "Chimera Technology online game suite and its Full Turn Key Solutions contains an extensive number and variety of gaming modules and back-end management services, which makes for it to be considered as a leading product within the gaming industry. We felt that Chimera was the right product to utilize on the Pegasus Gaming Web site as, with the Sportsbook wagering platform and a full suite of casino games, complemented with horse racing, a survival pool platform, and the incredibly popular multi-player Poker platform, such variety will actively make for our site to be chosen by clients having a wide interest of gaming interests."

Under the terms of the Letter of Intent, Pegasus Gaming will acquire the right to sell both exclusive and non-exclusive operating licenses to owner operators, for the continent of Europe. The sale of these licenses will generate initial licensing fees and long-term recurring royalties to Pegasus Gaming to be based on a percentage of the licensee's net income. Chimera will, as part of the initial license sale, brand the operating platform to the individual operator's specifications.

Upon the sale of the online gaming Turn Key Solution to an owner operator by Pegasus, Chimera will be responsible to provide an all-inclusive package comprising of the management, design and hosting applications branded to that individual operating Web site. Once the new licensee commences operations, all transactions including customer support, all e-commerce transactions, full customer service, including providing live odds for each sporting event in the Sportsbook platform, will be administered by Pegasus Gaming hosted through the Chimera management program.

Chimera President Ken Chua stated, "This agreement will help to open up new markets for our product. Given all the attention that online gaming has been receiving as of late, we felt that now was the time to capitalize on this booming market by entering into a strategic alliance with a company that has the network and resources to really help expand our client base."

This press release is available on the company's official online investor relations site for investor commentary, feedback and questions. Investors are asked to visit http://www.agoracom.com and view the "Chimera Technology" Investor Discussion and Contact Forum. Alternatively, investors can e-mail AGORA Investor Relations directly at CNOC@Agoracom.com.

About Chimera Technology Corp. (http://www.chimeratechnology.com)

Chimera Technology Corp. is a Nevada-based I-gaming software and e-commerce services company competing in the more than $6 billion annual online gaming marketplace, projected to be more than $10 billion by 2004, according to Computer Almanac Industry. The company is an international developer, licensor, and provider of online gaming products, including online bingo, casino, sports book, and pari-mutuel betting. Chimera Technology Corp. has successfully developed a supreme multi-player online Internet bingo technology, a second-generation world-class pari-mutuel sports books wagering platform and a full line of online Internet casino games suite. In addition, the company has developed its state-of-the-art "BIRDS EYE" System, a complete back-office management system that operates the entire e-commerce transactions, gaming Web sites, accounting system and licensees' management/reporting platform that is second to none, giving Chimera an opportunity to establish a leadership position in this enormous market.

To obtain further information on Chimera Technology Corp., please visit Internet Web sites http://www.chimeratechnology.com and http://www.724Bingo.com.

The above statements in regard to Chimera, which are not purely historical, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including Chimera's beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and are based on information available to the parties as of such date. It is important to note that the actual outcome and the actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties, such as technological, legislative, corporate, financial and marketplace changes.