RNS Number:6814M
Sportingbet PLC
24 June 2003


NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF
AMERICA, CANADA, AUSTRALIA OR JAPAN


                                         24 June 2003

                                Sportingbet Plc
                        ("Sportingbet" or the "Company")

Update on offer discussions

On 29 April 2003 the Board of Sportingbet announced that it had been in
discussion with a number of parties with a view to securing additional funding
in order to meet the Company's earn out obligations which are due from September
2003 and that, as part of these discussions, the Company was aware that one of
the parties with which it had held discussions was considering making an offer
for the whole of the issued share capital of Sportingbet.


The Board of Sportingbet confirms that a preliminary proposal has been received
at an indicative offer price of 30 pence per share in cash and the Company is
now in discussions with this potential offeror.  The proposal is subject to a
number of conditions, including renegotiation of the Company's earn out
obligations with the vendors of Sportsbook.com, due diligence, the
recommendation of the Board and the support of the Company's shareholders.
Accordingly, there can be no certainty at this stage that a formal offer will be
made by this potential offeror for the Company.


Any offer by the potential offeror, if made, will be in cash at 30 pence per
share, unless otherwise agreed by the Board of Sportingbet or in the event of an
announcement of a firm intention to make an offer by a third party.


This announcement has been reviewed by the potential offeror.


In parallel with the above proposal, the Board has held discussions with the
vendors of Sportsbook.com in relation to the settlement of the earn out
obligations on satisfactory terms which would ensure that Sportingbet has
sufficient working capital for its requirements.  These discussions are ongoing
but no agreement is likely to be reached pending clarification of whether an
offer will be made for the Company.


Pending resolution of the above discussions, the announcement of the Company's
preliminary results for the year ended 31 March 2003 has been postponed.  The
Board anticipates that the results will be announced in July.


Due to the seasonality of the sporting calendar, the first quarter is
Sportingbet's quietest; however, during this quarter the Company has made a
solid start to the new financial year.


A further announcement will be made when appropriate.


Enquiries:


Sportingbet Plc
Nigel Payne                              020 7251 7260

Cubitt Consulting
Peter Ogden                              020 7367 5100


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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