Exbet Launches Affiliate Program

International Pursuit Corporation Press Release

26 May 2000

International Pursuit Corporation, a Toronto Stock Exchange listed company trading under the symbol "IPJ", is pleased to announce that Exbet.com has launched an affiliate program. Exbet's affiliate program provides financial and gaming websites with the opportunity to offer financial betting using Exbet's patent-pending technology.
Exbet's affiliate program is targeted at offshore betting and gaming sites worldwide, as well as financial spread-betting sites. Websites offering a variety of games, betting or financial products now have the opportunity to add an "Exbet betting console" to their site where their customers may conveniently price and purchase fixed-odds financial bets.

Exbet's affiliate program provides member websites with a unique way of earning recurring commission on each bet placed by customers within the customized betting console. Affiliate betting consoles are low maintenance, and affiliate websites are provided with a comprehensive administrative login system to monitor accrued commissions and transactions volumes.

Affiliate betting consoles constitute an embodiment of the patent application filed by Exbet.com Ltd with the European Patent Office on 28th March 2000 and with the U.K. Patent Office on 27th April 2000. The patent application describes what is in effect a "financial betting machine" linked to realtime financial markets data feeds, electronic payment systems, and user betting consoles. Exbet's financial betting concept is unique in that it requires no human intervention in the betting process: bets are priced and dealt automatically by the server, which also automatically settles the bet, and automatically debits the stake and credits the winnings in accordance with financial market movements. Exbet's betting concept constitutes a unique concept in the financial markets, since customers are playing entirely against a machine which has the ability to instantly calculate fair bet prices on a very wide range of market forecasts.

Since no human interaction is required during the pricing and dealing in a given financial bet, Exbet's betting system can offer bets in sizes as small as $1. Exbet's betting product appeals to a wide range of potential customers who wish to deal in small size bets with the flexibility and instant response of Exbet's Web-enabled technology. Websites who choose to join Exbet's affiliate program are provided with a special link that creates a popup "betting console" residing on Exbet's servers. All bets placed by customers within this betting console accrue commission to the Exbet affiliate member. Each bet placed within the betting console is entered into by Exbet's licensed Cook Islands subsidiary, Cbet.com (Cook Islands) Ltd., which handles all aspects of the betting transactions. No risk accrues to the affiliate members, who are therefore not part of the betting process.

Exbet believes that its fixed-odds betting system constitutes one of the most significant innovations in the financial markets of recent times. Exbet believes that its fixed-odds betting has the potential to become widely used in the financial markets as it expands its system capabilities and its affiliate
program.

International Pursuit and Exbet are currently in the process of finalizing arrangements that will result in International Pursuit owning 50% of the equity of Exbet.

These arrangements are subject to shareholder and regulatory approval.

For further information
ON BEHALF OF EXBET.COM LTD: JEAN-YVES SIREAU, Tel +852 8101 1353, +44 7 624 461 193, Fax +852 8101 1122, Email jys@exbet.com
ON BEHALF OF INTERNATIONAL PURSUIT CORPORATION: G. E. CREBER Tel 1
(416) 972-0091

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