Press Release

ESI Entertainment Systems Inc. (TSX: ESY) announced today that its wholly owned subsidiary, PlayLine Inc., has launched PlayFare(TM) (www.playfare.ca), a patent-pending on-line auction service that allows electronic wallet holders to instantly, safely, and anonymously buy and sell e-money at market-driven prices from an international base of consumers.

“We believe that PlayFare(TM) revolutionises payment privacy on the Internet while utilising the power of a global economy,” said Michael Meeks, President of ESI. “By leveraging and extending auction services and person-to- person payments, we have eliminated the requirement for Citadel Commerce Corp., our payment processing company, to retain local bank processing capabilities, thereby ensuring Citadel’s continued ability to provide payment services to its customers.”

PlayFare(TM) addresses two major concerns for Internet consumers:

- Privacy and Purchasing Rights: It allows consumers to purchase e-money from other consumers, who may be located in other jurisdictions, for use in their electronic wallet accounts, while protecting their privacy and purchasing rights;

- Conversion of e-money into Local Funds: It allows consumers with e-money in their wallets to sell it to other consumers in order to convert e-money into local funds.

PlayFare(TM) supports myCitadel Wallet, a leading e-money solution from Citadel Commerce Corp., an ESI subsidiary, and aligns buyers and sellers with complimentary intentions (i.e. consumers wanting to make deposits and consumers wanting to make withdrawals). When a successful bid completes, payment is separately and independently arranged between the buyer and the seller using traditional auction payment services. After confirmation of receipt of funds by the seller, escrowed e-money is instantly released by PlayFare(TM) to the buyer’s myCitadel Wallet account.

PlayFare(TM) allows a consumer to move e-money into or out of their electronic wallet without having to provide personal banking details to an out-of-country payment processor; this protects the consumer’s financial information and spending history.

Posted: 05|9|06 at 2:13 pm. Filed under: Auction News.