BCL Betcorp

RNS Number:1009A
Betcorp Limited
21 March 2006


Tuesday 21 March 2006


                        BETCORP ANNOUNCES SHARE PLACING


Betcorp Limited, ("Betcorp" or "the Company") the online betting and gaming
operator, is pleased to announce that it has conditionally placed, in aggregate,
1,600,000 new ordinary shares of zero nominal value (the "Placing Shares") at a
price of #2.25 per Placing Share. Once completed, the Placing will raise
approximately #3.4m (net of expenses).

The Placing Shares will be placed with UK institutional and other investors.
Dealings in the Placing Shares are expected to commence on AIM at 8.00 a.m. on
24 March 2006.

The Placing Shares are equivalent to approximately 8.2% of the Company's
existing issued ordinary share capital, and when issued, will represent
approximately 7.5% of the Company's enlarged issued share capital.

The funds raised will be used for general corporate and working capital
purposes.

KBC Peel Hunt is acting as Nominated Adviser and Broker to Betcorp.

Commenting, Betcorp CEO Colin Walker said:

"We are delighted to be welcoming new shareholders on board so soon after our
successful dual listing on AIM. While we are only raising limited funding at
this stage, broadening our shareholder base was one of the primary reasons for
coming to London and we expect it to be a major benefit going forward as we
execute our strategy."


For further information please       Tom Baldock
contact:
Colin Walker                         College Hill Associates, London
Chief Executive Officer              tom.baldock@collegehill.com
Betcorp Limited                      Tel: + 44 20 7457 2020
colinw@betcorp.com.au
Tel: + 44 20 7457 2020

Matt Goode                           Martin Cole
KBC Peel Hunt                        CPR Communications, Sydney
matt.goode@kbcpeelhunt.com           m.cole@cprcomm.au
Tel: + 44 20 7418 8900               Tel: + 61 2 9252 6644




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

END
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