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Settlement Reached

October 2004

Virtual Spectator and iVistra Settle Proceedings Virtual Spectator and iVistra Ltd today announced they have reached a settlement – ending their High Court proceedings.

Virtual Spectator’s operation manager, Stephan Rothlander said that both parties have withdrawn their respective allegations. “The negotiations have been protracted as the nature of the dispute was complicated. But our new owners recognised everybody’s best interests lay in commercial resolution rather than litigation.”

Virtual Spectator and iVistra Technology have both withdrawn their allegations and filed a notice of discontinuance, ending the year-long dispute. Craig Meek, iVistra CEO, praised the new owners of Virtual Spectator for their approach to resolving the dispute that had divided the companies for the past year. “New ownership has enabled us to reach a quick and positive settlement. It also opens the door for us to investigate opportunities where we could work together in the future.” Virtual Spectator and iVistra Ltd will make no further comment relating to the settlement. -

ENDS

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