Sportingbet PLC : - Further re Convertible Bonds

16 January 2012

Sportingbet Plc

SPORTINGBET PLC ANNOUNCES PUBLICATION OF NOTICE TO HOLDERS OF £65,000,000 7 per cent. Convertible Bonds

Sportingbet Plc (the "Company") announces that it has published a notice (the "Notice") to the holders of its £65,000,000 7 per cent. Convertible Bonds due 2016 (ISIN: XS0632690003 / Common Code 063269000) (the "Bonds").

Adjustment of Conversion Price

In the Company's final results, on 5 October 2011, the Board recommended the payment of a final cash dividend to its shareholders ("Shareholders") in the amount of 1.1 pence per Ordinary Share with an ex-dividend date of 14 December 2011. Following the approval by shareholders, the final dividend was paid on 12 January 2012.

In accordance with the terms and conditions of the Bonds (the "Conditions") an adjustment is required to be made to the Conversion Price (as defined in Condition 5(a)) on the occurrence of certain corporate events.  As a result of the announcement by the Company that it will pay a cash dividend to Shareholders, an adjustment to the Conversion Price is required pursuant to Condition 5(b)(iii).

The Conversion Price was £0.5040 per Ordinary Share.

From and including 14 December 2011, being the effective date for the purposes of the Conditions, the Conversion Price was adjusted to £0.4863434.  All other terms and conditions of the Bonds remain unchanged.

Conversion Agent

U.S. Bank N.A acting through Elavon Financial Services.

Effective Date of Conversion Price Adjustment

The adjustment to the Conversion Price became effective on 14 December 2011.

Defined Terms

Unless other defined in this announcement, terms used in this announcement have the meanings given to them in the Conditions.

For further information please contact:

Sportingbet Plc	Tel: [phone]
Andrew McIver, Group Chief Executive
Jim Wilkinson, Group Finance Director
Maitland
George Hudson	Tel: [phone]
Daniel Yea