[Bill Dozer]

Press release from International All Sports

13 May 2009
Australian Stock Exchange Limited (“ASX”)
Company Announcements Office
10th Floor
20 Bond Street
SYDNEY NSW 2000
ASX - ANNOUNCEMENT
SALE OF INTERNATIONAL CANBET BUSINESSES

The Board of International All Sports (IAS) is pleased to announce that it has entered into a
binding agreement to sell its international Canbet businesses to Yin Khing Investments
Limited (YKI). YKI is a British Virgin Islands registered company, the principals of which are
Patrick Tay and Elson Yin. YKI and its associated companies specialise in innovative software solutions in the internet based entertainment market.

YKI will purchase the IAS Group companies that operate the international Canbet business,
for $1 million. Canbet provides online sports and horse racing betting services, as well as
other gaming products to customers outside Australia. During a transition period (expected
to conclude in Q3 2009), IAS will provide services to assist the migration of Canbet
operations to YKI, on a fee for service basis.

IAS will retain its Australian business and the Norfolk Island based A
ustote business, and will continue to offer the same comprehensive range of services.
The chairman, Mr Barry Coulter commented,

The Canbet business has had a number of
operational challenges, particularly following the changes to gaming laws in the United
States and unsuccessful strategies to grow our European sports operation. The sale of
Canbet presents an opportunity for IAS to refocus on our core Australian business. This
transaction transforms IAS from a global operation into a more focused and profitable niche
player in the Australian racing industry.

As previously disclosed in the 2008 Annual Report, Canbet made a loss of $8.6m for the
financial year and a loss of $3.7m for the 6 months to 31 December 2008, as disclosed in
the 2008/09 Appendix 4D. After deconsolidating the international Canbet companies the
sale transaction is expected to result in a one-off abnormal balance sheet write-down of
approximately $12m. The sale is also expected to result in an ongoing reduction in
expenses of more than $400,000 per month.

As previously announced, several parties have been subject to standstill agreements in
relation to trading in IAS shares. As a result of the Canbet sale and ongoing changes in
industry dynamics, particularly the impact of advertising and product fees, the IAS Board of
Directors has agreed to release all companies currently bound by standstill obligations.
Shareholder enquiries should be directed to John Nugent, Company Secretary,

International
All Sports Limited, on +613 9948 9948.


Barry Coulter
CHAIRMAN

------------
Canbet dispute report

[Peep]

Are their funds escrowed by law Bill? Any ideas of how much this would be and where they are held?

Selling price is sure fire sale value.....

[Dark Horse]

Wow. 'Another one bites the dust'. The only thing surviving is the name. Hard to see such a good book go, but recent troubles were indicating problems.

[Santo]

Canbet have been sold several times in their history, the IAS incarnation was only the latest. Whilst Australian owned I believe they had to have funds in Escrow, I don't believe that applies to the new owners.

[Peep]

That is what I am getting at Santo. Can they now just take the escrow funds and run? Is that the book's only value at this point?

Reminds me of these corporate raiders buying up companies so they could get into the employee's pension funds (Conrad Black).

[Bill Dozer]

The escrow isn't there. Canbet moved their base to the UK a few years back to avoid the costs that came with Australia's system. In the UK, if you take a legal approach, I believe only your deposits can be pursued.

I'm told Canbet buyers are affiliated with the SBObet operation. We are working on getting more information. It seems contracts are prohibiting Canbet from speaking to us as usual.

Money is likely safe. Hopefully the new Canbet folks care about the brand and wont let this handful of complaints hurt them.

In general, anytime a book is selling or changing platforms it's a good time to take a payout. Even the good books can move slow during these times. You can always put your money back.

[Santo]

"In the UK, if you take a legal approach, I believe only your deposits can be pursued."

This was true before the new gambling act, it is not any more.

[Bill Dozer]

Thanks Santo. Can you summarize?

[Santo]

It was discussed here recently in the Totesport v IBAS thread. Basically bets are now viewed as any other contract in law, so deposits and winnings are now claimable. No Escrow system though, you're still reliant on the courts enforcing judgements to reclaim assets/money.

The system has yet (to my knowledge) to be really tested.

[moonbeam]

Originally Posted by Bill Dozer

YKI will purchase the IAS Group companies that operate the international Canbet business,
for $1 million. CHAIRMAN

Only $1 Million???

Perhaps I get something wrong here.

Austrian betathome (which is rated D+ at SBR) is worth 64 Million Euro.

[noyb]

Originally Posted by moonbeam

Only $1 Million???

Perhaps I get something wrong here.

Austrian betathome (which is rated D+ at SBR) is worth 64 Million Euro.

huge but unprofitable companies are sold sometimes for as little as 1$. it'll cost those investors a whole lot more than one million in refunding the monthly losses of canbet as well as investing in the company to turn things around.

this takeover makes sense though: canbet has the good reputation, the asians have the technology, i'm curious who really are behind this takeover and what their plans with canbet will be.

[sportsbetwin]

The company isn't being taken over - Canbet is being sold.

As far as I know International All Sports will now focus on IAS BET (which is really a Canbet mirror site - take a look) and there other arms and hope to make some profits.

Interestingly Centrebet was in the mix for a while but they obviously didn't see enough value at $1mill.

[doowahdiddy]

This was on Bettingadvice on the 19th, very slack reporting

[pjesnik24]

I most certainly hope that they will continue to be a book they were last year with low juice and nice bonuses. ot at least one of those two things which both dissapeared during the last 12 months

[GoodOldTed]

Originally Posted by sportsbetwin

The company isn't being taken over - Canbet is being sold.

As far as I know International All Sports will now focus on IAS BET (which is really a Canbet mirror site - take a look) and there other arms and hope to make some profits.

Interestingly Centrebet was in the mix for a while but they obviously didn't see enough value at $1mill.

Canbet was a mirror of IAS... it has been a lemon for a long while. IAS bought Canbet for a similar price anyway.

http://sportismadeforbetting.blogspo...ff-canbet.html

[Lazy A$$]

Hi guys, I'm new here, already posted on Bettingadvice this topic, but I hope if I do it here it won't be a problem... Please let me know if there is any way around these terms and conditions as this is just unbelievable.

So check this out, this is a copy-paste of a live chat from one bookie I have an account at:

LazyA$$: Hi there, just a question
LazyA$$: How much more money do I need to win in order to be able to withdraw my bonus?
LazyA$$: (together with the rest of the funds of course)
Jason: Please hold a moment while we review your enquiry.
LazyA$$: Ok
Jason: oyu need to bet through 820 more of your bonus amount
Jason: you
LazyA$$: How is that possible when I was told yesterday that the rollover requirements are two times the bonus
LazyA$$: and I've already bet some today
Jason: Just to confirm turnover for your bonus amount does not count when you are using your own funds to bet with, turnover will only count as per our conditions when you have exhausted your own funds and then you may use the bonus amount to meet the turnover requirements
LazyA$$: Well can you allow me to bet with the bonus now, or how do I switch over to that fund?
Jason: you must use your own funds first before the bonus amount
LazyA$$: I am using them, but how can I use the bonus, what can I do with it?
Jason: once you have used your own money
LazyA$$: so basically I have to spend all my own money to be able to get to the bonus?
Jason: yes
Jason: thats rigjht
Jason: right
LazyA$$: Don't you think that's a bit unfair to the players
Jason: thats the rules our promotion team make not me sorry
LazyA$$: I know. Where can I contact the promotion team?
Jason: mail@canbet.com

So, I have to use all the money on my account to be able to start rolling the bonus over. Otherwise it will stay there forever. Btw, the bonus isn't small at all.

What kind of sh*t is that????

[CrazyLou]

Lazy,

Have you submit a complaint forum so we have your case on file? Things aren't looking well now but perhaps new mgmt. would be willing to discuss these issues with SBR.

Originally Posted by Lazy A$$

Hi guys, I'm new here, already posted on Bettingadvice this topic, but I hope if I do it here it won't be a problem... Please let me know if there is any way around these terms and conditions as this is just unbelievable.