PRESS RELEASE
Holding(s) in Company
27 May 2008
TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
| 1. | Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached |
| GAMING VC HOLDINGS S.A. |
| 2. | Reason for the notification (please tick the appropriate box or boxes) | |
| An acquisition or disposal of voting rights | (X ) | |
| An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached | ( ) | |
| An event changing the breakdown of voting rights | ( ) | |
| Other (specify): |
( ) |
| 3. | Full name of person(s) subject to the notification obligation: |
| Audley Capital Management Limited |
|
| 4. | Full name of shareholder(s) (if different from 3.) |
| Audley European Opportunities Master Fund |
|
| 5. | Date of the transaction (and date on which the threshold is crossed or reached if different): |
| 22/05/08 |
|
| 6. | Date on which issuer notified: |
| 27/05/08 |
|
| 7. | Threshold(s) that is/are crossed or reached: |
| 29% |
|
| 8. | Notified details: |
A. Voting rights attached to shares
| Class/type of shares (if possible using the ISIN code) | Ordinary (LU208436914) |
| Situation previous to the triggering transaction | Resulting situation after the triggering transaction | |||||
| Number of Shares | Number of Voting Rights | Number of shares | Number of voting rights | % of voting rights | ||
| Direct | Direct | Indirect | Direct | Indirect | ||
| 8,809,911 | 8,809,911 | 9,109,911 | 9,109,911 | 29.3% | ||
B. Financial Instruments
Resulting situation after the triggering transaction
| Type of financial instrument | Expiration date | Exercise/Conversion Period/Date | Number of voting rights that may be acquired if the instrument is exercised/converted | % of voting rights |
| N/A | N/A | N/A | N/A | N/A |
Total (A+B)
| Number of voting rights | % of voting rights |
| 9,109,911 | 29.3% |
| 9. | Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: |
| N/A |
Proxy Voting:
| 10. | Name of the proxy holder: | N/A |
| 11. | Number of voting rights proxy holder will cease to hold: | N/A |
| 12. | Date on which proxy holder will cease to hold voting rights: | N/A |
| 13. | Additional information: | N/A |
| 14: | Contact name: | Simon Thornton |
| 15. | Contact telephone number: | 01481 737600 |