PHXI - Phoenix Interests, Inc (fka PHXI)

[Gold Monkey]

WEBSITE LAUNCHED!! PR OUT!

http://ca.us.biz.yahoo.com/bw/041222/225462_1.html

Phoenix Interests Subsidiary Launches Online and Telephone Account Wagering
Wednesday December 22, 3:38 pm ET

JEFFERSONVILLE, Ind.--(BUSINESS WIRE)--Dec. 22, 2004--Phoenix Interests (OTCBB:PHXI - News) announced today that its wholly owned subsidiary, Online Enterprises, Inc., has launched the account wagering portion on the company's premier thoroughbred portal and listing service Barn66.com. Effective immediately, Phoenix Interests is able to offer telephone and online pari-mutuel wagering through Online Enterprise's Internet site www.betbarn66.com. Account wagering will also be accessible from Barn66.com.

All account wagering activity will be handled by AmericaTab Ltd., an account wagering company. AmericaTab Ltd. is a multi-jurisdictional simulcasting and interactive-wagering totalizator hub licensed by the State of Oregon Since its inception in 2001, AmericaTab Ltd. has increased the annual amount of wagers it has handled from $19.3 million in 2001 to $102.4 million in 2003. It estimates that in the first nine months of 2004 it has handled $93.2 million in wagers, a nearly 23% increase from the same period one-year ago. Online Enterprises will receive a fee for each wager placed with AmericaTab Ltd. through its web site. Pari-mutuel wagering in the United States totaled over $15 billion last year, of which an estimated $2 billion was conducted via account wagering and online.

BetBarn66.com becomes the newest member of the AmericaTab Ltd. affiliate system. Account holders are able to sign-up and wager through the live operator phone service, free wireless wagering service, or the company's closed loop computer systems. AmericaTab, Ltd. is licensed to operate by the Oregon Racing Commission. This online horse wagering service allows horse racing fans the ability to enjoy the excitement of the track at home. Unlike other online wagering services, AmericaTab Ltd. allows its users to instantly sign-up and wager without special software. Patrons of AmericaTab Ltd. have a unique experience in that they can wager at any track in the system with one account. Best of all, AmericaTab Ltd. is a United States-based wagering service, owned and operated by racetracks.

BetBarn66.com opens with a special online qualifier edition of the Coast Casino Horseplayer World Series. The top qualifier heads to Las Vegas to compete in the finals on January 27-29. Players will use mythical dollars for $2 win, place, or show bets with the highest ROI winning the trip to Las Vegas and stay at the Orleans Hotel for the finals. Players in the finals will compete for the $500,000 top prize and purse money totaling $1,000,000. In addition, the top five players overall in the AmericaTab Ltd. affiliate system will compete for cash prizes. There is a $50 entry for the contest, with specials for new customers to BetBarn66.com.

Phoenix Interests' core historical business was "pinhooking," namely acquiring undervalued yearling thoroughbred horses and reselling them as two-year-olds in training or as racing prospects. The company is seeking to expand within the thoroughbred industry beyond pinhooking activities and is also exploring opportunities in gaming, entertainment, and other sectors. Consistent with this expanded focus, in January 2004 Phoenix Interests elected to be regulated as a business development holding company and in March 2004 changed its name to its current name.

Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as "believes," "soon," "anticipates," "plans," or "expects," and other statements which are not historical facts contained in this release are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements. Reference is made to the Company's filings with the Securities and Exchange Commission for a more complete discussion of such risks and uncertainties.