31.05.2005 – 15:10

betbull - The European Betting Exchange Plc.

euro adhoc: betbull - The European Betting Exchange Plc.
Quarterly or Semiannual Financial Statements
Betbull Plc Announces its Results for the Three Months to 31st March 2005

Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.

31.05.2005

Betbull - The European Betting Exchange Plc ("Betbull" or "the
Company") announces its 1st quarter results.

Following its announcement in February, the Company has continued
with its B2B strategy developing major strategic alliances with key
industry partners, whilst maintaining a low cost structure. Quarter 1
trading has as such been in line with expectations, and as at 31st
March 2005 Betbull retained a cash positive position of £8 million.

During the period betbull successfully launched www.betbull.de the
first licensed gaming exchange, offering live, person-to-person, no
limits betting on German horse racing in co-operation with leading
German racing associations.  Betbull has sponsored major race days at
Munich and Baden Baden race courses, providing exchange betting
facilities and demonstrations to the public - pictures will be
published on our website www.betbullplc.com.

Commenting on the announcement, Günter Schmid, CEO of Betbull said:

"We are delighted at the progress made during the first quarter,
resulting in the successful launch of our live person to person
betting site beginning of April - which is unique, in that it is the
first and only exchange which allows the racing industry to
participate in - and benefit from - the commissions generated."

Commenting on current and future developments, Simon Bold, COO said:

"We have achieved significant progress this year with our plans to
sign strategic partnerships. In addition, Betbull would be well
positioned to take advantage of any growth in the German retail
sector by the provision of a fixed odds product generated from
betting exchange prices. We look forward with optimism to the
forthcoming year."

This press release plus 2005 Quarter One consolidated balance sheet
and the consolidated profit and loss account are available on the
www.betbullplc.com site.

ENDS

Contact
Alex Mackey, Catullus Consulting (+44 7773 787 458)
Catriona MacNiven, Investor Relations
Günter Schmid, CEO (upon request)
Simon Bold, COO (upon request)

Fon +35 052561
Fax +35 044554
betbull - The European Betting Exchange Plc ("betbull")
One London Wall
London EC2Y 5EB

About betbull
betbull’s vision is to become the "bookmaker’s and racing
associations exchange".  Bettors would enter the exchange through
existing accounts via a fully integrated exchange betting offering. 
Midterm a major fraction of the single- and live bets will be traded,
cleared, and settled through betbull’s exchange.  The high calibre
management team (Günter Schmid, CEO and Simon Bold, COO) can resort
not only to state of the art bookmaking and operating know how but
also relevant M&A expertise and track record.

betbull was started in 2004 as a joint venture of betandwin.com
Interactive Entertainment AG (stock quoted on the Viennese stock
exchange) and Fun Technologies Plc (formerly traded as CES-Software
Plc, stock quoted on the Alternative Investment Market in London) and
is stock quoted since October 2004 on the Viennese stock exchange
("BETB", "BETB.VI").

Exchange betting enables person to person betting over the Internet. 
Exchange betting offers the following advantages over placing bets
with a bookmaker:  Better odds, no limits, and betting for or against
an outcome.

For further details please refer to the company website
www.betbullplc.com.

This communication contains statements about the future (prognoses). 
Those statements are based on the Directors’s opinion, assumptions
made by the Directors, and information available to the Directors. 
One or several factors that the Directors cannot foresee with
certainty could result in outcomes and events that deviate from the
prognoses.  All prognoses are valid only on the date of their
announcement.  betbull has no intentions to and is not obliged to
update prognoses or to adapt prognoses to future events or
developments.

end of announcement                    euro adhoc 31.05.2005 14:34:39 

Further inquiry note:

betbull - The European Betting Exchange Plc.
Catriona Macniven
Investor Relations
Tel.: +350 77331
e-Mail: c.macniven@betbull.com

Branche: Casinos & Gambling
ISIN: AT0000615331
WKN:
Index:
Börsen: Wiener Börse AG / stock market