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Pine Ventures PLC (CHKY)

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Tuesday 04 April, 2006

Pine Ventures PLC

Amendment: Admission to AIM


   This announcement replaces the earlier announcement which was released at   
      07.01am today under reference PRNUK-0304061849-DB6E, due to a small      
                             typographical error.                              

                                                          For immediate release

                                                                   4 April 2006

                               Pine Ventures plc                               

                                ("the Company")                                

                          Admission to trading on AIM                          

Further to the announcement on 8 March 2006, the Company has now completed the
acquisition of CheekyMoon Ltd ("CheekyMoon") for an initial consideration of
79,999,996 new ordinary shares. The enlarged issued share capital following the
transaction will be admitted to trading at 8.00am this morning with ticker
CHKY. At 3.0p, being the closing middle market price of the Company's shares on
OFEX on 3 April 2006, the Company has a market capitalisation of £8.9 million.
It is intended that the Company will change its name to CheekyMoon
Entertainment plc later today and that the Company's shares will trade under
the new name from 5 April 2006.

CheekyMoon was formed in 2005 to create an on-line gambling and entertainment
website aimed at building a portfolio of games and entertainment features for
young adults.

For Enquiries:

Pine Ventures plc

Lord Beaverbrook Tel: 020 7235 3131

Kenneth Ragon-Chambers Tel: 01367 254004

John East & Partners Limited (Nominated Adviser and Broker)

Simon Clements Tel: 020 7628 2200

Holborn Public Relations

David Bick/Trevor Phillips Tel: 020 7929 5599

Background Information on CheekyMoon

CheekyMoon was formed to operate the CheekyMoon™ business (including
www.cheekymoon.com), an on-line gambling and entertainment website aimed at
building a portfolio of games and entertainment features for young adults.

CheekyMoon was founded by Lord Beaverbrook, Executive Chairman of the Company,
and Kenneth Ragon-Chambers, Chief Executive of the Company. They believe that
the on-line gambling market is in a growth phase and that they have identified
an opportunity for an on-line gambling and entertainment enterprise and have
created CheekyMoon™ to exploit this perceived opportunity.

The CheekyMoon™ website provides gambling opportunities, including casino games
such as poker, the Directors intend to build their customer base around young
adults seeking low stake gaming and entertainment experience. CheekyMoon is
seeking to build and then maintain a customer base to its website via the
provision of innovative content bringing together aspects of entertainment,
on-line gambling and VPI Games.

CheekyMoon's products and services include entertainment focused editorial
content through CheekyMoonZine™, prize games and VPI Games.

CheekyMoonZine™

The opening page of the CheekyMoon™ website includes an on-line magazine
("CheekyMoonZine™") which includes content via video, pictures and commentaries
relating to aspects of gambling.

Members are entitled to view certain parts of CheekyMoonZine™ without charge. 
Real-time webcast videos of CheekyGames like NaughtyNetball are pay to view.

Entertainment and VPI Games

CheekyMoon has developed the following entertainment and prize games and VPI
Games:

NaughtyNetball™

This is a VPI Game, where a number of teams play matches in a netball
tournament. When playing a netball match in the tournament each team will wear
CheekyMoon™ branded netball sportswear and each netball match will be recorded
for on-line simulcast. Viewers will be able to vote for their favourite netball
player and, during the netball match, the netball player receiving the most
votes will remove certain items of clothing.

CheekyBingo™

This is similar to a traditional bingo game. The winners are entitled to win
cash prizes but two winners each month can win either:

  * CheekyButlers™ or CheekyMaids™ to serve the drinks at the winner's home;
    and
   
  * CheekyChauffeurs™ who provide the winner with chauffeur services.
   
Les Mille Etoiles tournament

It is intended that once a sufficiently large customer base has been developed,
CheekyMoon will stage a poker and VPI Game tournament, `Les Mille Etoiles'.

Casino

It is also intended that the casino games offered on the website will include:

  * Poker
   
  * Baccarat
   
  * Blackjack
   
  * Craps
   
  * Roulette
   
  * Slots
   
The board believes that, by having lower entry stakes and prize money,
professional players will be discouraged from playing. The site will also
include a user-friendly help function to provide instructions on how to play
the casino games.

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