Re Joint Venture

RNS Number:8645D
CES Software PLC
08 October 2004



CES Software Plc Press Release

For immediate release

CES SOFTWARE JOINT VENTURE AND LICENCE PARTNER - BETBULL - LISTS ON VIENNA STOCK
EXCHANGE

CES Software plc ("CES") is pleased to announce today that betbull - the
European Betting Exchange plc ("betbull"), a new betting exchange venture
targeted at the Continental European marketplace in which CES holds an
approximate 24% ownership stake, has published the final terms of an offering in
conjunction with the listing of its securities on the Vienna Stock Exchange.

Under the terms of the offering 2,100,000 certificates (each representing an
ordinary share in betbull) will be issued to investors at a price of Euro7.00 per
certificate. The offering will raise Euro14.7 million before expenses for betbull
at a post offering valuation for betbull at the offer price of approximately Euro31
million.

The offering is expected to close on 11 October 2004. Erste Bank is lead manager
ans Canaccord Capital (Europe) Ltd Joint Manager in respect of the offering. The
offering is not being underwritten.

Lorne Abony, Chief Executive Officer of CES, remarked,
"Today's announcement is further illustration of the strength of the CES
business model, which is to take ownership positions in its licensees where
possible. We look forward to helping betbull build a successful business in
Europe."

For more information, contact:
Alex Mackey, Catullus Consulting
Tel: [phone]


About Betbull:
betbull - the European Betting Exchange Plc ("betbull") is a venture originally
formed by CES and BETandWIN which will exploit the enormous potential market for
exchange betting in Europe. betbull draws on the proprietary CES exchange
technology as well as the customer base and regional marketing know-how of BAW
and future bookmaker affiliates. In light of betbull's considerable,
non-duplicable strengths and its experienced management, betbull is seeking to
become the leading European betting exchange, which you can see at
www.betbull.com

About CES Software Plc:
CES Software Plc ("CES") is a market leader in person-to-person gaming
technology.  CES's strategy is to provide its cutting-edge skill gaming and
exchange betting platforms to the leading destination sites and top licensed
eGaming operators from regulated markets around the world. CES is a public
company, incorporated in England and Wales, listed on the Toronto Stock Exchange
under the symbol "FUN", and quoted on the Alternative Investment Market (AIM) of
the London Stock Exchange under the symbol "CES". CES is committed to the
integrity of its business, and as such will not conduct business with gaming
operators who knowingly process bets from any jurisdictions where such practices
are prohibited, including the United States and Canada.




                      This information is provided by RNS
            The company news service from the London Stock Exchange

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