Interactive Systems provides update

30 May 2007

WEST PATERSON, New Jersey -- (PRESS RELEASE) -- Interactive Systems Worldwide Inc. (OTC Bulletin Board: ISWI.OB) today announced the settlement of a vendor dispute, as well as provided short-term revenue guidance and an update of the Company's cash position.

Settlement of Vendor Dispute

The Company settled a dispute with a vendor that yielded $160,000 in cash and eliminated approximately $209,000 in liabilities (which were included in the Company's balance sheet at March 31, 2007). This agreement will result in a net increase to shareholders' equity of approximately $369,000.

Revenue Guidance

The Company's revenue from its agreements under which it operates its software through its UK subsidiary, Global Interactive Gaming ("GIG"), is based upon several factors: the turnover, the "hold" (that is, the turnover less the money returned to the players as winnings, which represents the profit retained by the system) and the contractual revenue (hold) split with its partners. The Company has been in discussions with several of its European partners to modify its existing contracts to provide GIG with certain temporary fixed monthly payments to allow time for the system's turnover to continue to increase.

Based on the informal understandings that have been reached as a result of these discussions, the Company's expectation is that its cash receipts from existing GIG clients for the next 4-5 months will increase to at least $60,000 per month. This figure includes license fees due from its agreement with Hipodromo de Agua Caliente S.A. de C.V. These understandings have not yet been formalized into binding agreements.

Bernard Albanese, The Company's CEO, stated, "We are very pleased with this development, and the cooperation shown by our partners. It provides the company with stable cash receipts for the next several months. The anticipated cash receipts will allow GIG to be approximately break-even on a cash basis during that time. This is the first time that GIG has been able to achieve this milestone. It is also an indication that our partners are optimistic regarding the future growth of the service being provided."

Cash Resources

Based on its new level of anticipated cash receipts and its reduced cost structure, the Company anticipates that its existing resources will be adequate to fund its capital and operating requirements at least through September 2007. The Company is actively pursuing multiple initiatives to solve its long-term liquidity issues, including seeking additional equity investments or other fundamental transactions, as well as licensing agreements or other synergistic revenue producing opportunities.

Interactive Systems provides update is republished from CasinoCityTimes.com.

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	Interactive Systems provides update 30 May 2007 <a href='https://ad.casinocity.com/adclick.php?n=a21efcd1'><img src='https://ad.casinocity.com/adview.php?what=-site:vendors/width:250/RON&n=a21efcd1' border='0' alt='' /></a> WEST PATERSON, New Jersey -- (PRESS RELEASE) -- Interactive Systems Worldwide Inc. (OTC Bulletin Board: ISWI.OB) today announced the settlement of a vendor dispute, as well as provided short-term revenue guidance and an update of the Company's cash position. Settlement of Vendor Dispute The Company settled a dispute with a vendor that yielded $160,000 in cash and eliminated approximately $209,000 in liabilities (which were included in the Company's balance sheet at March 31, 2007). This agreement will result in a net increase to shareholders' equity of approximately $369,000. Revenue Guidance The Company's revenue from its agreements under which it operates its software through its UK subsidiary, Global Interactive Gaming ("GIG"), is based upon several factors: the turnover, the "hold" (that is, the turnover less the money returned to the players as winnings, which represents the profit retained by the system) and the contractual revenue (hold) split with its partners. The Company has been in discussions with several of its European partners to modify its existing contracts to provide GIG with certain temporary fixed monthly payments to allow time for the system's turnover to continue to increase. Based on the informal understandings that have been reached as a result of these discussions, the Company's expectation is that its cash receipts from existing GIG clients for the next 4-5 months will increase to at least $60,000 per month. This figure includes license fees due from its agreement with Hipodromo de Agua Caliente S.A. de C.V. These understandings have not yet been formalized into binding agreements. Bernard Albanese, The Company's CEO, stated, "We are very pleased with this development, and the cooperation shown by our partners. It provides the company with stable cash receipts for the next several months. The anticipated cash receipts will allow GIG to be approximately break-even on a cash basis during that time. This is the first time that GIG has been able to achieve this milestone. It is also an indication that our partners are optimistic regarding the future growth of the service being provided." Cash Resources Based on its new level of anticipated cash receipts and its reduced cost structure, the Company anticipates that its existing resources will be adequate to fund its capital and operating requirements at least through September 2007. The Company is actively pursuing multiple initiatives to solve its long-term liquidity issues, including seeking additional equity investments or other fundamental transactions, as well as licensing agreements or other synergistic revenue producing opportunities. Interactive Systems provides update is republished from CasinoCityTimes.com.