Status Update on NioNio Investigation, and on Refunds to Players

June 5, 2008 - As announced previously, UltimateBet began the process of issuing refunds to affected players on May 29, 2008. Since then, we have continued to investigate additional accounts and data surrounding the unfair play. We have also received inquiries from our customers for a few accounts that we have included in our investigation.

We are confident that we have uncovered the majority of the usernames involved in the fraud and processed the corresponding refunds. However, we are currently analyzing data for additional usernames that appear to have suspicious activity.

If we determine that these usernames were in fact part of the scheme, we will refund the net losses incurred by any customers who played against them.

We expect to have the investigation concluded by June 30, 2008.