Demerger of Events Business & Acquisition of Online Casino Software Licence

Oct 2, 2003

2 October 2003 The Manager Companies Announcement Office Australian Stock Exchange Limited 10th Floor, 20 Bond Street SYDNEY NSW 2000

DEMERGER OF EVENTS BUSINESS & ACQUISITION

OF ONLINE CASINO SOFTWARE LICENCE

The directors of Amlink wish to advise that for the last 2 years they have been looking at alternative ways to grow both the asset base of the company and in turn increase its profitability. Following the September 11, 2001 terrorist attacks, SARS and the turmoil that they have bought to the travel industry, it has been difficult to obtain growth through the EVENTS software business. Whilst it continues to be successful it is anticipated that the 50% of EVENTS owned by Amlink will not be large enough to sustain a public listed vehicle and the substantial administrative costs associated with such an entity. Demerger of EVENTS Amlink intends to distribute to existing Amlink shareholders, on a pro rata basis by way of a return of capital, shares in the unlisted entity that holds the 50% of EVENTS owned by Amlink. After the pro rata demerger of EVENTS it is anticipated that 5 million shares in Amlink, held by Messrs. Gardiner & Hayward (or entities associated with them), will be acquired by Jumbo Corporation Limited (ASX Code JUM). Messrs. Gardiner & Hayward would also resign from the board at that time. Mr Mike Veverka, Managing director of Jumbo, will be invited to join the Amlink board if shareholders approve all the transactions contemplated within this release. In addition to this a third director will be appointed to join David Barwick who would remain as Chairman and a shareholder of Amlink. Online Casino Licence Acquisition Simultaneously with the distribution of the Events shares, the directors wish to advise, that they have agreed in principal to enter into agreement with the shareholders of Global Approach Pty Ltd (Global) to acquire 100% of the equity of Global, which is a private company. Global commenced operations in April 2003 having acquired a software licence agreement for an online casino (Music Hall Casino), which operates in various jurisdictions around the world (excluding Australia). The total cost of the licence acquisition by Global was A$750,000. Music Hall Casino is a potentially highly profitable operation, which, since it commenced operations has turned over A$37.1 million with gross revenue of A$1.2 million. David Barwick, Chairman of Amlink, is also a substantial shareholder in Global. Jumbo is also a shareholder in Global, and it is anticipated that Jumbo will hold 19.9% of Amlink at the time of completion of the proposed transactions. Global has 11 shareholders none of whom hold more than 19% of that company. The licence agreement, which Music Hall Casino holds is managed by an unrelated entity, Fireband Ltd and the gaming licence, is registered with the Kahnawake Gaming Commission in the territory of Kahnawake, Canada. The agreement with Fireband is on commercial terms and is subject to review at 31 December 2004. The Management Company’s Executive Team has over 100-man years experience in casino gaming and online activities. This team’s experience covers the establishment of major land based casinos and online casinos. The management company features a 24/7 multilingual call centre, latest in payment processing, specialist internet marketing & promotional services. The Music Hall Casino uses the latest software from the world's leading supplier of Online Gaming Software. The software supplier has been in operation since 1996. A summary of the proposal for Amlink to acquire 100% of Global is:


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 02102003.pdf