Preakness Weekend Tops Derby Weekend in Total Handle at BetBarn66.com, Phoenix Interests' Account-Wagering Site; Total Handle up 4% for Three-Day Weekend; 44% of Active Accounts Make at Least One Wager

Business Wire, May 26, 2005

JEFFERSONVILLE, Ind. -- Phoenix Interests, Inc. (OTCBB: PHXI) announced today that BetBarn66.com, the account-wagering site of its wholly owned subsidiary Online Enterprises, Inc., has continued to grow after the Kentucky Derby, setting new handle records for the site over the three-day Preakness weekend.

The previous site record was set during Kentucky Derby weekend and included the site's single largest day of total handle, Derby Day. That record day, after being adjusted to include future pool wagers on the date the wager was made, was more than three times the site's previous largest day. For Preakness weekend, the site's total handle increased nearly 4% over the total handle for the Kentucky Derby weekend.

BetBarn66.com used an aggressive radio, email and direct mail campaign to encourage play on Preakness weekend, and the site issued two "Guaranteed Tickets," one for Friday and one for Sunday. Friday's Guaranteed Ticket selection was a winner--Eddington in the Pimlico Special. BetBarn66.com's "Guaranteed Ticket" promotion ensures that new customers using a promotional code announced by BetBarn66.com will not lose money on a specified $2 across-the-board wager. These marketing efforts helped to increase handle from all account holders, leading to the record weekend performance.

James D. Tilton, Jr., Chairman, CEO and President of Phoenix Interests, stated, "BetBarn66.com has grown significantly starting with the Kentucky Derby and continuing through the Preakness. Not only did the site have a record Preakness weekend in terms of total handle, we also saw substantial numbers of new account signups and had nearly 44% of our active account holders place a wager. We have shown that the site can grow and keep account holders active in their wagering, and we are looking to maintain those trends."

BetBarn66.com is an internet site that allows its customers to watch and bet on great horseracing action from across the country and around the world. Barn66 is the only site that will be offering the entire Triple Crown series of races, including the Preakness. Its customers pay no wagering or subscription fees. Customers of BetBarn66.com make advance deposits in their accounts and are provided with a full range of wagering options, 20 channels of streaming video, hundreds of races daily, and thousands of replays. Phoenix Interests believes that this combination of free services, great racing, and range of wagering options makes BetBarn66.com the best account wagering site in the industry.

All account wagering activity on www.BetBarn66.com is handled by AmericaTab, Ltd., a multi-jurisdictional simulcasting and interactive-wagering totalizator hub licensed by the State of Oregon. BetBarn66.com is a member of the AmericaTab affiliate system.

Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as "believes," "soon," "anticipates," "plans," or "expects," and other statements which are not historical facts contained in this release are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements. Reference is made to the Phoenix Interests' filings with the Securities and Exchange Commission for a more complete discussion of such risks and uncertainties.