Phantom Fiber to Partner with on Full-Service Mobile Solution
By Staff
Toronto, ON (Dec. 3, 2007) – Phantom Fiber Corporation (OTCBB: PHFB) announced today that it is partnering with, the official advance-deposit wagering service for Churchill Downs Incorporated (NASDAQ: CHDN) and its family of racetracks, to extend the functionality of the wagering platform to mobile phones and PDAs.

The mobile solution, which will be developed and implemented over the next few months, will extend a full range of existing online functions, including wagering transactions, racing news and alerts, race programs, payment processing and live video streaming, to over 1500 cellular phones, Blackberry, and PDA devices supported by the Phantom Fiber proprietary mobile platform.

Jeff Halloran, chairman and CEO of Phantom Fiber Corporation stated, “Phantom Fiber continues to concentrate on its core business, a state-of-the-art mobile offering. Having been selected as the mobile partner of choice by such a high-profile client as Churchill Downs validates that we are on the right path. We are excited to partner with the premier brand in horse racing on a project that will further enhance customers’ wagering experience by giving them increased flexibility.”

'Churchill Downs Incorporated is fully focused on growing its account-wagering business and finding the right mobile technology partner is key to offering our customers greater access to news and handicapping information as well as greater convenience in their wagering transactions,” said Vernon Niven, president of “The mobile platform offered by Phantom Fiber is well suited to our needs, and we look forward to working with the Phantom Fiber team in the coming weeks as we implement a full-service mobile solution for our customers.”

About Phantom Fiber Corporation

Phantom Fiber Corporation (OTCBB: PHFB) is a leading developer of wireless platform software that enables its customers to deliver high-performance applications across global communications networks to mobile users. Their wireless platform extends the rich multimedia content and user experience of existing Internet web sites securely and instantly to over 1,500 mobile devices including cellular phones and PDA’s. 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 video surveillance; banking and brokerage applications; as well as the logistics and distribution markets. For more information about Phantom Fiber, please visit our web site at

In this press release we make 'forward-looking statements' within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results or strategies and can often be identified by the use of terminology such as 'may,' 'will,' 'estimate,' 'intend,' 'continue,' 'believe,' 'expect,' 'anticipate,' 'could,' 'potential,' 'opportunity,' or similar terminology. These statements are based upon management's current expectations, assumptions and estimates and are not guarantees of future results or performance. Actual outcomes may differ materially from those projected in these statements due to a variety of risks and uncertainties and other factors, including, among other things: competition; material adverse changes in economic and industry conditions in our markets; technological change; retention and renewal of existing contracts; availability and adequacy of cash flow to satisfy obligations and indebtedness or future needs; protection of intellectual property; security and integrity of software and systems; laws and government regulation, including those relating to gaming licenses, permits and operations; seasonality; dependence on suppliers and manufacturers; factors associated with foreign operations; dependence on key personnel; failure to perform on contracts; resolution of pending or future litigation; labor matters; and stock price volatility. Additional information regarding risks and uncertainties and other factors that could cause actual results to differ materially from those contemplated in forward-looking statements is included from time to time in our filings with the SEC, including our most recent Annual Report on Form 10-K. Forward-looking statements speak only as of the date they are made, and except for our ongoing obligations under the U.S. federal securities laws, we undertake no obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise.

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