ISWI continues talks with Techmatics

17 May 2007

PATERSON, New Jersey -- (PRESS RELEASE) -- Interactive Systems Worldwide Inc. (Nasdaq: ISWI) today announced that it has continued to discuss a possible software development agreement with Techmatics, and has received a refundable deposit of $25,000 for future services. The parties are contemplating an agreement where Techmatics would pay ISWI an estimated $500,000 for software development work. The development would likely be performed on a "cost plus" basis.

The software development is contingent upon Techmatics raising the necessary capital and the parties negotiating and executing a mutually agreeable software development agreement. The Company cannot provide assurance that it will be able to reach a definitive agreement with Techmatics or that Techmatics will be able to raise the necessary capital.

Background:

On February 5, 2007, the Company had announced that it had signed a Letter of Intent with Techmatics Inc. to jointly develop and market a new product that enables fixed-odds exotic race betting. The then contemplated transaction also included a strategic investment into ISWI. On March 29, 2007 the Company announced that while the Company was continuing to discuss a software development agreement with Techmatics, it appeared unlikely that any agreement would include a strategic investment. It currently still appears unlikely that any agreement would include a strategic investment by Techmatics.

ISWI continues talks with Techmatics is republished from CasinoCityTimes.com.

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	ISWI continues talks with Techmatics 17 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> PATERSON, New Jersey -- (PRESS RELEASE) -- Interactive Systems Worldwide Inc. (Nasdaq: ISWI) today announced that it has continued to discuss a possible software development agreement with Techmatics, and has received a refundable deposit of $25,000 for future services. The parties are contemplating an agreement where Techmatics would pay ISWI an estimated $500,000 for software development work. The development would likely be performed on a "cost plus" basis. The software development is contingent upon Techmatics raising the necessary capital and the parties negotiating and executing a mutually agreeable software development agreement. The Company cannot provide assurance that it will be able to reach a definitive agreement with Techmatics or that Techmatics will be able to raise the necessary capital. Background: On February 5, 2007, the Company had announced that it had signed a Letter of Intent with Techmatics Inc. to jointly develop and market a new product that enables fixed-odds exotic race betting. The then contemplated transaction also included a strategic investment into ISWI. On March 29, 2007 the Company announced that while the Company was continuing to discuss a software development agreement with Techmatics, it appeared unlikely that any agreement would include a strategic investment. It currently still appears unlikely that any agreement would include a strategic investment by Techmatics. ISWI continues talks with Techmatics is republished from CasinoCityTimes.com.