Boss Media of Sweden intends to establish a Joint Venture Company with Dijaya Corporation Berhad and PalmGold Corporatio
Boss Media of Sweden intends to establish a Joint Venture Company with Dijaya Corporation Berhad and PalmGold Corporation Sdn Bhd of Malaysia Växjö, September 15, 2000 Sweden-based Boss Media, a world-leading Internet casino software provider, has entered into a Letter of Intent to create a joint venture company (JVC) with two Malaysian companies: Dijaya Corporation Berhad (Dijaya) and the PalmGold Corporation Sdn Bhd (PalmGold). Through the creation of the JVC, the companies aim to aggressively develop and promote online casino operations in the Asian market by pooling their respective resources. Boss Media brings its faculty as a major gaming software provider to the JVC, while Dijaya and PalmGold bring their marketing expertise and extensive contacts in Asia. Boss Media will own 50 percent of the JVC, and Dijaya and PalmGold will together own the remaining 50 percent. In addition to ownership privileges, Boss Media will receive 20 percent of all license fees and royalties earned by the JVC. The principal objective of the JVC is to become a leading software provider for various online gaming enter-prises in Asia while efficiently serving both the JVC's clients and Boss Media's existing and potential casino licensees. "Its presence within Asia and the prime opportunity to develop customized games for the region give this company a tremendous advantage over its competitors," says Johan Sigvardsson, CEO at Boss Media. "The Asian market is the fastest-growing market in the online gaming industry, so this partnership marks an important strategic move by our company". Boss Media will nominate the Chairman of the board, while Dijaya and PalmGold will appoint the Managing Director/Chief Executive Officer of the joint venture company. Dijaya was established in 1979. It started out as a manufacturing venture, with a special focus on building materials. The company later diversified into the resort and property development sector. Dijaya has recently ventured into Internet-related businesses - more specifically, the gaming sector - by its managing of a licensed Internet casino for the Asia region through Diva Gold International Ltd, a 70 percent subsidiary company. Dijaya is listed on the Main Board of the Kuala Lumpur Stock Exchange since 1992. The PalmGold Group of Companies is a market leader in Malaysia's gaming, leisure and entertainment industry. The Group currently owns and operates a chain of sports and recreational clubs, karaoke entertainment centers, family fun amusement centers, theme parks and bowling centers. In the early 1990's, PalmGold began expanding into the international market with ventures in, for example, Australia, India and parts of Africa. The Group Boss Media AB (publ) is a leading provider of turnkey solutions for casino operations on the Internet. Potential licensees are offered a customized client-server system, an integrated payment system, and the maintenance and administration services necessary for the successful operation of an Internet casino. Boss Media AB (publ) is a publicly traded company listed on the OM Stockholm Exchange's O-list (Attract 40). For more information, please contact: Johan Sigvardsson, CEO Tel: +46 470 70 30 05 or +46 708 70 37 85 E-mail: js@bossmedia.se Ulrika Persson, Investor Relations Tel: +46 470 70 30 38 or +46 733 36 77 69 E-mail: up@bossmedia.se Boss Media AB (publ) Tel: +46-470-703000 Fax: +46-470-703050 http://www.bossmedia.se ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/09/15/20000915BIT00280/bit0001.doc http://www.bit.se/bitonline/2000/09/15/20000915BIT00280/bit0002.pdf