SPACEPORTEDUTAINMENT NEWS ROOM PRESS RELEASE:

Certificate of Approval of Establishment of the SpacePortShenyang Joint Venture Company issued by Municipal Bureau of Foreign Trade & Economic Cooperation, Shenyang with South African Reserve Bank approval being obtained

Cape Town, South Africa – September 13, 2005 - The Municipal Bureau of Foreign Trade & Economic Cooperation, Shenyang today issued the Certificate of Approval for the establishment of Shenyang SpacePort Consulting Company Limited, the joint venture company being formed to build a US$250m space theme park (dubbed a “SpacePort”) in Shenyang, North East China. The Park is scheduled to open in time for the Beijing Olympic Games in 2008.

This approval is the prelude to a $0.4m feasibility study being conducted by Cape Town-based SpacePortEdutainment and a Dutch Consortium, which includes DHV (environmental impact studies, final design, transportation and engineering), Vekoma (manufacturer of thrill rides), BRC Imagination Arts (creative design, master planning and production) and Entertainment Projects International (master planning of daily operations and operational training).

Subject to a positive outcome, the joint venture company will continue to source funding and thereafter develop the theme park. A beautifully landscaped site has already been allocated, being next to the Botanical Gardens in Shenyang.

SpacePortEdutainment has secured South African Reserve Bank approval to make a 51% investment in the SpacePortShenyang joint venture company, subject to its specified terms and conditions.

SpacePortEdutainment is seeking 1st Round funding of R6mio, with a projected IRR of 35%.