SOURCE: Press Release

Sportingbet Plc will, on 4 June 2008, announce its third quarter results for the three months ending on 30 April 2008. The results for the period will report an operating profit (before exceptional items, fair value adjustment and amortisation) of not less than £7.0m (2007: £3.0m).

This equates to an operating profit for the nine months year to date of £18.7m (2007: £6.4m from continuing operations).

The Board is pleased with the trading results of the business through both the third quarter and year to date, in particular, with the Group’s core sports betting business.

Following a successful period of "bedding-in" of the Group’s operational moves to Guernsey and Dublin, the Board has now entered the last phase of its proposed strategic downsizing exercise, concentrating on its PLC head office function in London.

As such, it is currently proposed that a number of redundancies may occur in the head office function. This proposal will be the subject of consultation with potentially affected staff over the coming weeks.

As part of a senior management review connected to this exercise, it has been decided that there is no longer a requirement for a Chief Operating Officer within the senior executive structure, and that the role will therefore become redundant.

The duties associated with the role will be absorbed by the remaining senior executives of the Company and the role will not be replaced.

Consequently, it has been agreed that Dave Hobday, Chief Operating Officer, will leave Sportingbet Plc shortly on a date to be agreed, and at the Company’s request, Dave Hobday has resigned from the Board with immediate effect.

Andrew McIver, Chief Executive, said:

"Quarter three was another strong performance for the Group and once again shows the tremendous headway the business has made since our complete withdrawal from the US in October 2006 and the subsequent year of intensive restructuring and refocus."

"The current consideration of staffing requirements within the Group’s head office function marks the last part of our restructuring proposals."

"Once this exercise and consultation is complete, we envisage having an appropriately structured organisation to take the business forward."

"The Board and I would like to take this opportunity to thank Dave for his hard work and dedication that have helped us get to where we are today and wish him well for the future."

"Current trading is good and the Board remains confident of meeting expectations for the full year and beyond."