PRESS RELEASE

The Directorate Suspends Gaming Licence of Index Trade (Pangaea Holdings)

(October 28, 2002)

St. John’s, ANTIGUA

The Directorate of Offshore Gaming has suspended the licence of Pangaea. This action was taken because of the inability of the company to satisfy the Directorate that it maintains adequate financial reserves.

The company has cooperated with the Directorate in reviewing its operation and the company has twenty-eight (28) days in which to make suitable financial arrangements to re-capitalize the company. After the twenty-eight (28) day period, and failing to make suitable arrangements, the company’s licence may be revoked.

 All persons who have outstanding claims against this company are asked to make a report to the Directorate at http://www.antiguagaming.gov.ag/complaints.asp or complaints@antiguagaming.gov.ag , director@antiguagaming.gov.ag

 Full contact details for the Directorate are listed below:

Ronald Maginley
Director

 
The Directorate of Offshore Gaming
Mutual Financial Centre
Suite 216
P.O. Box 588
St. John’s, Antigua
Tel: (268) 481-3300
Fax: (268) 481-3305