Phantom Fiber and Parlay Entertainment Join Forces with WirelesStudios for Italian Launch of Mobile Gaming on I-Mode Phones

FOR: PHANTOM FIBER CORPORATION OTC Bulletin Board SYMBOL: PHMF AUGUST 10, 2004 - 09:00 ET

Phantom Fiber and Parlay Entertainment Join Forces with WirelesStudios for Italian Launch of Mobile Gaming on I-Mode Phones TORONTO, ONTARIO--(CCNMatthews - Aug. 10, 2004)

- Expertise of Phantom Fiber and Parlay Entertainment exploited to launch subscription-based play-for-points casino-style tournament suite for i-Mode users in Italy. Phantom Fiber Corporation (OTCBB:PHMF), the leading provider of secure wireless technology and mobile solutions, announced today that it has been selected by Parlay Entertainment Limited ("Parlay") and Cameron Thomson Group ("CTG") as the wireless delivery partner for the launch of WirelesStudios, a unique subscription-based service which allows i-Mode users in Italy to participate in play-for-points casino-style tournament games in return for promotional awards. WirelesStudios successfully launched its i-Mode offering in Italy August 2nd.

For additional information, please visit http://telefonino.libero.it/i-mode/te_portale2_full10.phtml.

Developed by NTT DoCoMo of Japan, i-Mode has turned into an enormous success story in Japan with 41.5 million subscribers and 4200 content providers as of May 2004. Capitalizing on this success, NTT DoCoMo has set its sights on international markets for the i-Mode service by expanding deployments to Italy, Germany, the Netherlands, Belgium, France, Spain, Taiwan and Greece. WIND Telecomunicazioni S.p.A. ("WIND"), Italy's third largest carrier with 9.2 million subscribers and 17% mobile market share has made significant investments to market i-Mode and has deployed 200 i-Mode content sites since the service launched in November 2003. For complete information about NTT DoCoMo's i-Mode service, please visit http://www.nttdocomo.com/corebiz/imode/index.html.

WirelesStudios, a wholly-owned subsidiary of CTG, aims to enhance the i-Mode user experience by offering play-for-points casino-style games on a per subscription basis. Using a tournament-based competition model, WirelesStudios provides an attractive entertainment option to Italian i-Mode users who enjoy playing games, participating in tournaments and winning prizes - the perfect ecosystem for generating and monetizing interactive behaviour on a wireless device which pushes the envelope beyond traditional i-Mode content services. WirelesStudios also plans to extend the tournament-based model using Parlay's advanced gaming platform to Libero.it, WIND's Internet portal, thereby allowing WIND customers to play WirelesStudios tournament games on i-Mode phones or the Internet using a single tournament account. Under terms of the agreement, each company will benefit from a recurring revenue share model based on the total amount of monthly subscriptions acquired for tournament play.

CTG will provide staffing resources to market WirelesStudios' tournament-driven events and handle administration for prizing, sponsorships and public relations. Phantom Fiber's wireless technology will extend Parlay Entertainment's advanced gaming platform to players, accessible anywhere in Italy, anytime on Java-enabled i-Mode phones. Using Phantom Fiber's industry leading wireless framework, WirelesStudios will deliver fast, engaging, feature-rich tournament-based gaming entertainment for points on a per subscription basis. Parlay Entertainment will extend its advanced gaming platform to WIND's Libero Internet portal thereby allowing WirelesStudios to deliver tournament-based games online. "We are very excited to be unveiling WirelesStudios first foray into interactive gaming through our WIND i-Mode deal", says Ronald W. Thomson, President of Cameron Thomson Group. "Given that we have chosen best of breed partners in Phantom Fiber for wireless enablement and Parlay Entertainment for leading gaming applications, we feel that our WIND offering is sensible and will provide high entertainment value to i-Mode and Internet subscribers across Italy.

This is WirelesStudios first initiative and we look forward to announcing similar international ventures in the future." "We are excited about the opportunity to supply our technologies in a subscription-based, mobile environment" said Scott White, President and Chief Operating Officer for Parlay. "We have an established partnership with Phantom Fiber, who serves as a mobile delivery partner to some of our Internet gaming clients. This arrangement is further evidence of our diversification into play-for-fun gaming which complements our distribution channels outside of pay-for-play gaming." Jeff Halloran, President and CEO for Phantom Fiber Corporation, said, "This new partnership highlights the strong relationship already developed between our companies and further demonstrates the potential market opportunities available in the wireless sector. Capitalizing on the core competency from each company, WirelesStudios stands to benefit from the large untapped Italian mobile market for i-Mode, a service which only launched in Italy eight months ago.

By allowing WirelesStudios the option to manage tournaments through i-Mode and Libero.it, players are given a choice to play casino-style tournament-based games for fun with a chance to win exciting prizes. This is a strategic collaboration which solidifies Phantom Fiber's role as a significant player in the i-Mode market worldwide." This release includes projections of future results and "forward-looking statements" as that term is defined in Sections 27A of the Securities Act of 1933 as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934 as amended (the "Exchange Act").

All statements that are included in this release, other than statements of historical fact, are forward-looking statements. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from the expectations are disclosed in this release, including, without limitation, in conjunction with those forward-looking statements contained in this release.

About Phantom Fiber Corporation Phantom Fiber Corporation is the market leader in wireless technology and mobile solutions that empowers any application requiring high performance functionality on today's mobile devices and wireless data communication networks. Phantom Fiber's success is due to its unique ability to deliver a rich client experience without compromising on performance or security. Phantom Fiber extends the enterprise reach anytime, anywhere, on any device. For more information, please visit www.phantomfiber.com. About Parlay Entertainment Limited Parlay Entertainment Limited is the licensing subsidiary for dot com Entertainment Group, Inc. ("DCEG"). The DCEG group of companies develop, license, and support Internet gaming technologies and services for use in free-play and pay-for-play on-line gaming. Parlay is a leader in the soft gaming Internet gaming market and offers a comprehensive suite of casino, bingo and lottery products.

For more information, please visit www.parlaygroup.com. About WirelesStudios Inc. WirelesStudios Inc. is a wholly owned subsidiary of Cameron Thomson Group, and is focused on providing intelligent and responsive wireless content solutions for mobile operators internationally. Established in 2000, WirelesStudios Inc. develops, licenses and provides wireless content solution applications to mobile operators across Europe and North America.

These advanced solutions harness proven entertainment applications, games, and other content, which rely on interactivity and reward-based motivational concepts to precipitate user interactivity. WirelesStudios' integrated offering targets all users, not just "game fans", and provides simple casino style games (e.g. Poker, Slots, Bingo), uses sponsored tournaments / prizes to ensure motivation, loyalty and traffic, provide cross-platform opportunities utilizing single account, multiple media platform. WirelesStudios' approach marries digital TV, Digital Terrestrial TV and on-line broadband as natural platform extensions to its powerful blend.

WirelesStudios' content partners represent hundreds of gaming and content experiences for international mobile operators.

For more information, please visit http://www.wirelesstudios.com/strategy. -30- FOR FURTHER INFORMATION PLEASE CONTACT:

Redwood Consultants LLC Jens Dalsgaard Managing Director

Tel.: (415) 884-0348

E-mail: jnsd@aol.com

 

or Phantom Fiber Corporation Jeff Halloran President and CEO

Tel.: (416) 703-4007

Email: jeff@phantomfiber.com

 

or dot com Entertainment Group Inc. Scott White President and Chief Operating Officer

Tel.: (905) 337-8524

Email: swhite@dceg.com

 

or WirelesStudios Inc., a division of Cameron Thomson Group Ltd. Ronald W. Thomson - President

Tel.: (416) 350-5009

Email: rt@cameronthomson.com