VANCOUVER, British Columbia, May 31, 2006 (PRIMEZONE) -- MangaPets, Inc. (OTCBB:MPTS) (the "Company") reports that in addition to the recent signing of a purchase agreement reported in the Form 8-K filed May 24,2006, the Company has signed a Letter of Intent ("LOI") to acquire a well known sports book for three million five hundred thousand dollars (US 3,500,000). The LOI is subject to certain terms of a confidentiality agreement.
Forward-Looking Statements: A number of statements contained in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including timely development, market acceptance of products and technologies, competitive market conditions, successful integration of acquisitions, and the ability to secure additional sources of financing. When used in this press release, words such as "could," "plan," "estimate," "expect," "intend," "may," "potential," "should," and similar expressions are forward looking statements. Although MangaPets believes that the expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. MangaPets encourages the public to read the information provided here in conjunction with its most recent filings on Form 10-KSB, Form 10-QSB and Form 8-K. MangaPet's public filings may be viewed at www.sec.gov.