Leading Poker Vendor Tribeca Tables Chooses Phantom Fiber's Advanced Wireless Platform For Mobile Poker

Wednesday, October 5th, 2005

Significant opportunity to capture growing demand for mobile multi-player products worldwide

TORONTO, ONTARIO - Phantom Fiber Corporation (OTCBB:PHFB) the leading developer of wireless platform software announced today a five-year exclusive license agreement with Tribeca Tables Europe, Ltd, the leading provider of turnkey online poker software solutions. The business terms of the agreement are based on a revenue share model in which both parties will share in the revenue generated from mobile players.

Tribeca Tables provides the technology behind the world's best online poker rooms. Managed by recognized poker entrepreneurs with extensive knowledge and experience in both brick and mortar as well as online poker operation, Tribeca enables an exceptional online poker experience, featuring superior technology, state-of-the-art servers, and elegant graphics. In addition to online poker software development, our specialties include e-marketing (retention and acquisition), online communities, client/server technology, and of course, online poker operation. For more information, please visit www.tribecatables.com.

U.S. Gaming consultancy Christiansen Capital Advisers has estimated the online poker market to be worth $1 billion in 2004 and forecasts growth will rise 44% per year for the next five years. Poker lends itself to Internet and wireless channels because players compete against each other which has allowed poker to explode in popularity. In addition, televised poker tournaments have encouraged casual players to hone their skills and strategies before playing Internet or mobile poker. The success of Internet and mobile poker formats is largely driven by the power of "multi-player communities" and the entertainment value achieved during the longer game sessions experienced in poker -- these factors add to the enhanced level of stickiness for brand poker operators and to their bottom-line.

In a 2005 study by GMP Research, online poker was shown to be the highest-growth sub-segment in online gaming, tripling revenue during 2004 according to www.Pokerpulse.com. River City Group, a trade and services group which represents the online gaming industry, concluded in their own study that Internet poker generated approximately $2 billion in revenue and captured more than three million people playing online per month in 2004. In the United States, online poker gaming has generated a substantial revenue footprint for online poker operators while in Europe, the United Kingdom now represents up to 80% of the online poker market with new emerging opportunities developing in Scandinavia, Germany and Australia. The Washington Post also reported recently that there are approximately 50 to 80 million traditional poker players in the United States which would enable operators to achieve greater liquidity and profits from both Internet and wireless formats.

Jeff Halloran, President and CEO for Phantom Fiber stated, "The agreement is symbolic because Phantom Fiber's Advanced Wireless Platform was originally built around Poker to demonstrate the proven speed, graphics and stability of our wireless solution. To see that vision come to life is very exciting for our organization. Since our inception, we have deployed many wireless sportsbooks, casinos and horsebooks and now look to wireless Poker as the next milestone to extend our dominant position within the gaming industry. The growth and momentum behind Poker cannot be understated. Poker communities generate significant revenue, customer loyalty and camaraderie in an extremely interactive environment which is easily extended to mobile devices using our advanced wireless platform. Tribeca's strong management team, infrastructure and operations have proven to be a formidable force in the online poker world as a result of their critical mass of users, marketing and retention programs designed to create the necessary liquidity to keep players coming back. . We are excited to be working with this leading poker provider and look forward to deploying to their entire class of tier-1 brands in the very near future."

Steve Cook from Tribeca Tables commented, "We investigated various mobile solutions in the industry and due to Phantom Fiber's reputation, they became our partner of choice. We have been impressed by Phantom Fiber's proven advanced wireless platform and their extensive list of live operators including innovative new technologies incorporated into its overall solution. We also needed to ensure the speed and presentation for wireless play was state of the art within the gaming industry. We foresee rapid growth in 2006 for the mobile poker sector and expect to decisively execute on several key wireless poker brand launches early next year."

The Tribeca Tables Poker Network includes an impressive list of prestigious brands such as Victor Chandler, Blue Sq, BETonSPORTS, Paddy Power, G-Fed, Golden Palace, Doyle Brunson, as well as over 100 other brands. More info at www.TribecaTables.com.

About Tribeca Tables Europe, Limited

Tribeca Tables Europe, Limited are registered in the Channel Island of Alderney. They are the world's first and largest independent network of ePoker brands and committed to providing innovative and reliable software solutions to clients exclusively in the arena of ePoker. Tribeca's philosophy empowers brands and their customer relationships, establishing a true poker partnership. Significantly Tribeca offer unparalleled poker expertise and are not owner/operators unlike the majority of other poker networks, which they see as a conflict of interests. Their key strengths are liquidity, customer support, fraud management, high profile retention programs, real community environment and comprehensive poker room features.

About Phantom Fiber Corporation

Phantom Fiber Corporation (OTCBB:PHFB - News) is the leading developer of wireless platform software that enables our customers to deliver high-performance applications across global communications networks to mobile users. Our wireless platform extends the rich multimedia content and user experience of existing Internet web sites securely and instantly to a wide array of wireless devices including PDAs and programmable cellphones.
This platform is already deployed to most segments of the global gaming industry and can be used by enterprises seeking to implement high performance mobile applications in such markets as: remote medical record access by physicians; securities research and trading; and, remote monitoring and the management of logistics and distribution. Phantom Fiber's Advanced Wireless Platform supports over 1000 mobile devices worldwide and includes a host of new features of benefit to gaming operators serving a global audience.

CONTACT INFORMATION

L.G. Zangani LLC
Ian Cassel
Investor Relations
(908) 788-9660
office@zangani.com
www.zangani.com

or

Phantom Fiber Corporation
Alexander S. Bosika
Investor Relations
(416) 703-4007 Ext. 233
IR@phantomfiber.com
www.phantomfiber.com

or

Tribeca Tables Europe, Limited
mailto:moreinfo@TribecaTables.com
www.TribecaTables.com