VANCOUVER, B.C., Canada, May 3, 2004 (PRIMEZONE) -- CYOP Systems International Inc. (OTCBB:CYOS), the leading provider of online video games and tournaments of skill, announced that it has embarked upon a strategy of building associations with large portals and online companies intends to expand its licensed CrediPlay software into the Asian markets.
Opportunities to develop relationships with gateways exist in the emerging markets of Asia. Jurisdictions in China, Korea, Taiwan and Japan are being made a priority with the high proportion of gamers, strong Internet growth and readily disposable income. CYOP's skill gaming operations, with the ability to use standard credit card processing, is not hindered by anti-casino legislation in the region.
CrediPlay has several unique features:
-- It is focused on the online video gaming industry, and
is a turnkey system that provides operators with ways to grow
their online business with little, up-front investment.
-- It creates pay-for-play tournaments of skill on multiple sites
for multiple games for multiple players.
-- It disburses funds to vertical channel members immediately upon
the rendering of a transaction.
-- It integrates with all gaming platforms including C++, Java
and Flash.
-- It's backend is both scaleable and multifunctional providing
real-time reporting and security
"Our new VP of Business Development, Mr. Craig Owens, will lead the effort to aggressively increase our exposure to portals and gaming companies in Asia," said Mitch White, CEO of CYOP Systems. "The region has seen its numbers grow and gambling and entertainment research firm Christiansen Capital Advisors estimates the number of Asian online gamblers will grow from 4 million in 2003 to 7.4 million by 2006. Ecommerce is expected to serve as an important engine of growth for development across the region, with revenues reaching nearly $600 billion in 2005, a compound annual growth rate of more than 101 percent from 2000. Asia's strong economy, fondness for gaming and a large population, which is inclined to spend its disposable income on leisure goods and services, makes it a natural objective for our growth."
About CYOP
CYOP is a developer and provider of online skill-games and services for the online entertainment and gaming industries. CrediPlay, CYOP's licensed application, is an online transaction platform that is based on charging a fee for each game of skill played over the Internet. CYOP's central games portal, www.skillarcade.com, features virtual sports games, puzzles, card games, action games, strategy, driving, racing and adventure games where people play popular skill games against other players and compete in tournaments to win real money prizes.
For more information please visit www.cyopsystems.com.
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Exchange Act of 1934 and the provisions of the Private Securities Litigation Reform Act of 1995 and is subject to safe harbor created by these sections. Actual results may differ materially due to a number of risks, including, but not limited to, technological and operational challenges, needs for additional capital, changes in consumer preferences, legal risks associated with Internet gaming and risks of governmental legislation and regulation, risks associated with market acceptance and technological changes, risks associated with dependence on software providers, URL providers, risks relating to international operations, and risks associated with competition. This document is not intended to be and is not an advertisement for any securities of the company.