Tuesday, July 11, 2006

LiveHive SystemsTM, a leading provider of real-time event wagering solutions
for the online gaming industry, today announced that it has appointed David
Brennan as Chief Financial Officer. Mr. Brennan brings 20 years of financial
experience to the company and will direct all activities related to
corporate financing, corporate reporting and internal operations. Prior to
LiveHive, Mr. Brennan was a Principal with Solowave Investments, a Canadian
based private equity firm. During his five years at Solowave, Mr. Brennan
was involved in a number of transactions and was seconded to Sirific
Wireless in the position of Vice President, Finance. Prior to Solowave, he
was Associate Vice President of Finance for PixStream Incorporated, which
was acquired by Cisco Systems in December 2000. Mr. Brennan previously
worked as senior manager of investor relations for the Bank of Montreal. He
obtained his Chartered Accountant designation during his nine-year career
with Coopers & Lybrand, now PricewaterhouseCoopers.

"Having someone with David's financial acumen and operational experience on
board gives us confidence that the internal operations of the company will
be well looked after as we grow our customer base and penetrate new
markets," said Dave Bullock, President, LiveHive Systems. "The fact that he
has spent a significant amount of time in senior executive roles at rapidly
growing high-tech companies, combined with his venture capital and public
market experience, will enable LiveHive to maintain its leadership position
in this market."

"In a short period of time, LiveHive has secured some of the biggest and
most recognized online sportsbooks as customers," said David Brennan, Chief
Financial Officer, LiveHive Systems. "As the company enters its next phase
of growth, I am happy to be implementing the processes and structure
necessary to ensure our customers and our customers' customers are well
served for many years to come."