Zone4Play Considering Spin-Off of its Multiplayer Blackjack Tournaments Gaming Technology

Zone4Play Considering Spin-Off of its Multiplayer Blackjack Tournaments Gaming Technology

WILMINGTON, Delaware, June 20/PRNewswire-FirstCall/ -- Zone 4 Play, Inc. ("Zone4Play" or the "Company") (OTCBB: ZFPI),
a leading developer of interactive gaming technology, announced today
that it is considering a spin-off to its shareholders of its newly-developed
multiplayer Blackjack tournaments gaming technology (the "Software"). The
spin-off company -"Newco" will, as a separate entity, further develop and
market the Software, enabling internet users to participate in multiplayer
Blackjack tournaments.. Zone4Play's decision to proceed is dependent on the
results of a regulatory and tax analysis that has not been completed.

If the transaction proceeds, Zone4Play intends to incorporate Newco as an
off-shore company that will purchase the Software from Zone4Play based on a
valuation that has been prepared by an independent economist. In addition,
Zone4Play may lend seed capital to Newco in the anticipated amount of
approximately $2 million, to be secured by all assets of Newco Thereafter,
Zone4Play's board of directors will announce and set a record date for a
dividend distribution of the shares of Newco to its shareholders, on a
one-to-one pro rata basis as of such record date.

Newco, through two fully owned entities, will have two main business
models: one to market the product directly to consumers and the second to
further develop and license the Software to third parties based on a license
fee and revenue share basis.

"We believe that the spinoff transaction may be the preferred way
to pursue this business opportunity for the benefit of our shareholders",
said Shimon Citron, CEO of Zone4Play. "Zone4Play will maintain its current
business as a software and technology developer and provider to the
interactive gaming industry, delivering cross-platform systems that are built
for mass participation gaming over all interactive platforms and to be a
major part of the next generation gaming industry"

For further information, please refer to the Zone4Play's Current Report
on Form 8-K, as filed with the Securities and Exchange Commission on June 20,
2006.

About Zone4Play:

Zone4Play, a leading developer of interactive software and technology for
the betting and gaming industry, delivers cross-platform solutions that are
built for mass participation gaming. Zone 4 Play is a software and technology
provider to UK bookmakers, online gaming operators, betting exchanges and to
US cable, satellite and hospitality service providers, delivering online
solutions, mobile solutions, interactive TV solutions and participating
SMS-TV solutions. Zone4Play works with industry giants such as British
Telecom, Coral Eurobet, Betfair, Channel 5 (UK), cablevision and Lodgenet
.For more information visit http://www.Zone4Play.com, the content of which is
not part of this press release.

Safe Harbor

This press release may contain forward-looking statements within
the meaning of the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995 and federal securities laws. For example, when
we say that the spinoff transaction is the preferred way to pursue this
business opportunity for the benefit of our shareholders, or that Zone4Play
will maintain its current business as a software and technology developer and
provider to the interactive gaming industry, delivering cross-platform
systems that are built for mass participation gaming over all interactive
platforms and to be a major part of the next generation gaming industry, we
are using a forward looking statement. These forward-looking statements are
based on the current expectations of the management of Zone4Play only, and
are subject to a number of factors and uncertainties that could cause actual
results, performance or achievements of Zone4Play, including revenues, income
and expenses, to differ materially from those described in or implied by
these forward-looking statements. The following factors, among others, could
cause actual results to differ materially from those described in the
forward-looking statements: changes in technology and market requirements;
decline in demand for Zone4Play's products; inability to timely develop and
introduce new technologies, products and applications; loss of market share
and pressure on pricing resulting from competition, strength and growth of
the gaming industry, gaming regulatory environment, and other factors over
which Zone4Play may have little or no control. Zone4Play undertakes no
obligation to publicly release any revisions to these forward-looking
statements to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events. For a more detailed
description of the risk and uncertainties affecting Zone4Play, reference is
made to Zone4Play's reports filed from time to time with the Securities and
Exchange Commission.

Press contact: Caroline Cohen,
Koteret Public Relations,
Email: Caroline_c@koteret.com or Tel: +972-3-575-5778 x112.

Source: Zone4Play (Israel) Ltd

Press contact: Caroline Cohen, Koteret Public Relations, Email: Caroline_c@koteret.com or Tel: +972-3-575-5778 x112.

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