TrackPower to acquire Compurace Inc.

New York - TrackPower Inc. (OTCBB:TPWR) announced today that it has signed a letter of intent to acquire all of the outstanding shares of

Based in Los Alamitos, Calif., Compurace operates a video archiving and Internet broadcast service for racetracks. Their products are available on racetrack kiosks and on the company's Web site. Compurace has both exclusive and nonexclusive replay and live broadcast agreements with their racetrack clients, which include major tracks from Kentucky, New York and California. Compurace also operates replay video kiosks located in major racetracks and Las Vegas casinos.

Under the terms of the letter, TrackPower will acquire all of the outstanding shares of Compurace for $750,000 in a combination of cash and common stock. The current managing partner has also agreed to a two-year contract to remain with the company. The parties expect to execute the purchase agreement before Nov.17, 2000.

TrackPower . is preparing to launch an enhanced interactive video and information service for horseracing in conjunction with Inetcable.com, Inc. The company has an agreement allowing its new and existing customers to wager on horse races through Telebet/Dial-a-Bet, a licensed telephone wagering service operated by Penn National Gaming Inc.