1,000 STARNET SHAREHOLDERS RISE TO DEFEAT CLASS ACTION LAWSUITS - 500 Beiträge pro Seite

[Newman1]

1,000 STARNET SHAREHOLDERS RISE TO DEFEAT CLASS ACTION LAWSUITS

VANCOUVER, British Columbia, Dec 13, 1999 /PRNewswire via COMTEX/ --
The Starnet Investors Group announced today that it will continue its
campaign to refute charges levied by class action attorneys against
Starnet Communications International, Inc. (OTC Bulletin Board: SNMM),
a leading provider of Internet gaming technologies and services. The
Group is also pleased to announce that its ranks are growing; its
members collectively hold nearly five million shares of common stock in
Starnet Communications. If necessary, representatives of the Group will
appear in court to ensure that any class action lawsuit is defeated.

Regarding the threatened class action, the attacking law firms make two
fundamental charges: that Starnet insiders inflated the company`s stock
price in order to reap illicit profits, and that company officers
misled investors regarding risks in Starnet`s business model. "These
charges are demonstrably false," said James P. Lewis, spokesman for the
Group. The facts are clear. The market has driven this stock based on
the enormous growth projected for the Internet gaming industry and
Starnet`s aggressive pursuit of market share. Our investigation of the
matter reveals no unusual insider selling whatsoever. In fact, such
sales were relatively insignificant and actually declined over the
course of the class period, Lewis said. Similarly, more than 1,000
shareholders have added their names to a statement rejecting the charge
that Starnet`s officers misled investors.

The international consulting firm Frost & Sullivan recently recognized
Starnet as the world`s "preeminent supplier of online gambling
software." The firm identified Starnet as a potential market share
leader in Internet gaming and projected that this market will reach a
revenue total of $10.95 billion by 2005. Starnet`s licensee network
already comprises 35 to 40 percent of all gaming sites and it continues
to grow.

Gaming operators using Starnet`s products are experiencing dramatic
increases in deposits and wagering, as well as monthly gains in casino
and sportsbook profits. "Our correspondence with licensees indicates
that they remain thoroughly satisfied with Starnet`s services and
innovative technologies," Lewis said. Starnet is working with its
licensee partners to aggressively market their products and build
long-term brand awareness and loyalty among gamers and bettors. "These
collaborative efforts are contributing new and ever-increasing
royalties to Starnet`s bottom line," Lewis said.

With five consecutive quarters of profitable operations, Starnet
Communications is arguably the most undervalued company in the Internet
industry today. "Our members won`t be deceived by opportunistic
attorneys. In fact, many of us are increasing our positions in Starnet
Communications," Lewis concluded.

The Starnet Investors Group is an independent organization formed by
shareholders. The Group is not affiliated with Starnet Communications
International, Inc. or its officers. Shareholders wishing to join the
Group, and/or the Group`s petition opposing the class action, should
contact [e-mail] .

[Newman1]

Sorry für das doppelte posting !?!?