r> LONDON, England, Jan. 18 - FUN Technologies plc ("FUN"), one of the world's leading online casual gaming providers, announced today that its wholly owned subsidiary, SkillJam Technologies Corporation ("SkillJam"), has acquired all of the assets of Octopi LLC ("Octopi").


Octopi has been at the forefront of interactive media and entertainment since 1998. Located in Tucson, Arizona, it has established itself as a leading developer of single-player and multiplayer mobile and online games. Octopi's game development engine "Octoplex(TM)" supports multiple languages, the top 100+ mobile handsets, and other platforms such as PDAs and web browsers.


SkillJam is a multi-channel provider of skill-gaming technology and solutions. It develops and distributes private-label gaming solutions for a broad network of partner destination sites in the US and abroad, including AOL, MSN's Zone.com and Virgin Games.


FUN will take advantage of Octopi's expertise in game development to help its other subsidiaries - SkillJam, Fanball and Don Best - with new development initiatives such as more mobile applications, and additional online gaming content. In 2005, Octopi recorded an unaudited profit before tax of approximately US$800,000, before any audit adjustments. The consideration for FUN's acquisition of Octopi is an upfront payment to the sellers of US$3 million, as well as an earn-out of up to US$3 million.


Lorne Abony, CEO of FUN Technologies, said, "The Octopi team has extensive experience in all forms of mobile game development, and its groundbreaking cross-platform games are a true complement to our existing suite of casual games. With its efficient game development engine, "Octoplex", Octopi has been able to secure big-name clients such as Nokia in the increasingly competitive mobile gaming sector. Octopi is a fantastic acquisition for SkillJam and FUN Technologies, and we believe our customers and our shareholders will be equally enthusiastic about this new addition to the FUN group."


Daniel Kopycienski, Founder and President of Octopi, commented, "We are thrilled at the prospect of being a part of FUN Technologies - an organization which has proven itself to be at the forefront of casual gaming. We look forward to collaborating with the FUN team to build new mobile applications and products, and being able to offer our existing games to an expansive new user base through FUN's distribution channels."


About FUN Technologies plc


FUN Technologies plc is one of the world's leading online casual gaming providers. FUN's strategy is to provide its cutting-edge, person-to-person gaming systems to top, licensed distribution partners in regulated markets around the world. FUN is a public company, incorporated in England and Wales, and is listed on both the Toronto Stock Exchange and the Alternative Investment Market (AIM) of the London Stock Exchange under the symbol "FUN".