Trading Update

Gaming VC Holdings S.A
16 March 2005


Gaming VC

                                  Trading Update

Gaming VC Holdings S.A. (the 'Company') announces a trading update for the first
two months of 2005. 

Casino Club

Average daily net revenue for January and February was Euro 130K compared to
Euro 108K in the comparable period of 2004. Average daily net revenue for
November and December 2004 was Euro 117K. The total wagers made in the Company's
casinos for January and February 2005 were Euro 311M as compared to Euro 274M
for the same period in the prior year.

This 20% same period year-on-year increase in daily net revenue is a function of
new products and growth in existing roulette operations as well as an increase
in active customers.

New customer registrations in the period were 4,500 of which 2,900 deposited
monies, bringing total lifetime depositing customers to 63,000. These new
customers were drawn predominantly from Germany and Austria, however in the
period approximately 14% of the new registrants have been seen from the UK.

Steve Barlow CEO said 'We are very encouraged by the growth in the first two
months of this year, and hope for continued good performance in the rest of the
year.'

Publishing

In December 2004 the Company published its first magazine under the new
management which featured an article on the Company's slots operation. The
Company believes this resulted in growth in this higher margin area of the
business. The next magazine featuring the jackpot product has recently been
released to 62,000 customers, and highlights winnings as large as Euro 500K.

New Market Opportunities

As part of the Company's ongoing strategy a new Spanish language website has
been launched with an initial highly targeted email push to 30,000 potential
customers. These customers were selected using the same demographic profile as
the customer base in Germany. It is too early to give feedback on this launch,
however it is the intention of the Company to follow this soft launch with an
aggressive marketing campaign. The Company is continuing to investigate and
research other markets in Europe. The Company continues to review acquisition
opportunities in all related markets.

For further information contact:

Steve Barlow, CEO                                  020 7554 1400
Robert Willis, CFO                                 020 7554 1400
Ken Cronin, Gavin Anderson & Company               020 7554 1442 / 07887 591 499
Robert Speed, Gavin Anderson & Company             020 7554 1427




Note to Editors

Gaming VC Holdings SA (AIM: GMHq.L) is a leading online casino games operator,
with an annualized handle in excess of Euro 2 billion. The majority of its
existing customers come from German speaking countries. The company listed on
the Alternative Investment Market in December 2004. Gaming VC Holdings also owns
two magazines, Casino Club and Roulette. Through these unique marketing and
information magazines it is able to attract and retain casino games' players.




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