RELEASE AGREEMENT

Exhibit 99.1

RELEASE AGREEMENT

THIS RELEASE AGREEMENT is made this 30 ^th day of March, 2006 (the “Effective Date”), by and between Ahead Investments Limited, a South African corporation (the “Debt Holder”) on the one hand, and Online Gaming Systems, Ltd, a Delaware corporation (the “Company”), on the other hand (together, the “Parties”).

IN CONSIDERATION of the mutual promises set forth below, and for other good and valuable consideration, the receipt and sufficiency of which the Parties acknowledge, the Parties agree as follows:

1. Debt Holder has made certain loans to the Company, which loans plus accrued interest thereon remain unpaid (collectively, the “Loans”).

2. The Loans were carried on the books and records of the Company, but never evidenced by promissory notes issued to the Debt Holder.

3. In connection with the sale of shares in t