YouBet.com stock repurchasing agreement in the news

April 13, 2007

Just released into online gambling news circuits, Youbet.com, a well known gaming technology developer and online gambling race wager site to that on Tuesday an agreement was reached with Wells Fargo Foothill, Inc., the managerial agent of the gaming company’s credit accord. Under the terms of the new pact, Youbet.com may, on occasion, repurchase up to $10 million of its common stock from the date of the agreement through March 31, 2009. The cumulative repurchase, however, may not exceed 2,000,000 shares of the common stock in the company.

According to the new agreement, Youbet.com will be forbidden from repurchasing shares if the company is in default under the terms of its credit accord and certain liquidity thresholds have not been met.

Chuck Champion, Youbet.com's Chairman, President and CEO, stated that the company’s share repurchase approval reflects the board's self-assurance in the company’s tactical growth, and is also confident in the belief that its shares are selling at prices that do not reflect the long term value of this venture.

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