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Betbull raises funds

22 Dec 2006

LONDON, England – (PRESS RELEASE) -- Betbull Plc ("Betbull") announces that it has raised EUR4,200,000 by way of a Private Placement of 1,050,000 new ordinary shares at a subscription price of EUR4.00 .

1.0 million of the new ordinary shares have been subscribed for by new investors from Switzerland with the additional 50,000 new ordinary shares having been subscribed for by the management of Betbull. Associated costs of the Private Placement, including the issue of 21,000 new ordinary shares to the placing agents, GBR Financial Services GmbH (formerly known as Andreas Grundbichler GmbH), are expected to total approximately 2% of funds raised. It is intended that the new ordinary shares will be listed as Austrian Depositary Certificates on the Vienna Stock Exchange in due course.

A shareholders meeting approving the disapplication of pre-emption rights in relation to the Private Placement was held on December 15th 2006 in London.

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