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Business Editors

LOS ANGELES--(BUSINESS WIRE)--April 4, 2002

Retains SBI E2-Capital USA (Investment Banking Arm of SOFTBANK

Investment Corp. Japan) and vFinance Investments

Youbet.com, Inc. (Nasdaq:UBET), the leading online live event and wagering company, today announced that it has engaged SBI E2-Capital (USA) Ltd, SOFTBANK Investment Corp Japan's new U.S. investment banking arm, and vFinance Investments, Inc. (OTCBB:VFIN) to assist in the execution of its corporate finance strategy.

"The engagement of SBI E2-Capital USA and vFinance Investments represents an important step forward in the execution of Youbet.com's continued growth and development," said David M. Marshall, Chairman and Chief Executive Officer of Youbet.com. "Both of these firms are particularly knowledgeable and experienced in working with mid-sized online commerce companies and are familiar with the dynamics of our business model. With the assistance of these firms, we are actively reviewing various corporate finance initiatives. The arrangement of additional financing is one of my top near-term priorities since re-joining the Company in late March."

Shelly Singhal, President of vFinance Investments' Capital Division, commented, "We are excited about the opportunity to work with David Marshall and the entire Youbet.com team. We believe the Company has positioned itself extremely well in the online gaming space, with a strong product offering and excellent distribution. With the regulatory environment taking shape, we believe Youbet.com is best positioned to capitalize on an industry ripe for additional technological advances in distribution."

"Through our partners at vFinance Investments, we are pleased to assist Youbet.com in the preparation and execution of its corporate finance strategy," noted John Wang, Chief Operating Officer and Executive Vice President of SBI E2-Capital USA. "Youbet.com has established a strong brand in a market largely untapped on both the domestic and international fronts."

About SBI E2-Capital (USA) Ltd.

SBI E2-Capital (USA) forms part of SBI E2-Capital Limited ("SBI E2-Capital Group"), a financial services joint venture between Hong Kong-listed companies SOFTBANK Investment International (Strategic) Limited ("SOFTBANK Strategic", stock code 0648HK) and E2-Capital (Holdings) Limited ("E2-Capital Group", stock code 0378HK). SBI E2-Capital Group comprises an investment banking team with expertise in public and private fundraising, deal structuring and other financial advisory services for middle-market companies in multiple technology and high growth sectors. SBI E2-Capital Group offers comprehensive services in the investment banking, financial products, asset management and broking services sectors. Current business activities in these areas extend across Hong Kong, the PRC, Singapore and the United States. With the support of SOFTBANK Strategic and E2-Capital Group in Hong Kong, as well as SOFTBANK Investment Corp. and SOFTBANK Finance Corp. in Japan, SBI E2-Capital Group is positioned to emerge as a global force in the financial services arena.

SOFTBANK Group Japan is pioneering the global Internet economy with innovation, capital and expertise -- building great Internet companies whose products and services will over time enhance the quality of life throughout the world.

For more information about SOFTBANK, visit its Web site at http://www.softbank.com, and for more information on SOFTBANK Investment International (Strategic) Limited, visit its Web site at http://www.softbank.com.hk.

About vFinance Investments

vFinance Investments, Inc. is the investment banking unit of vFinance, Inc. (OTCBB:VFIN). vFinance is a multi-channel financial services company that provides personalized investment banking and brokerage services to more than

8,000 corporate and private clients worldwide. The firm has offices in New York, Chicago, San Jose, Houston, Boca Raton and 18 other cities. www.vfinance.com, the company's Web site, is also the leading destination on the Internet for companies seeking capital, as well as institutional and high net-worth investors seeking dynamic high-growth companies. Each year, the site hosts more than one million investors and CEOs from over 50 countries. This huge audience creates a perpetual, global deal stream for vFinance's bricks-and-mortar financial service units.

About Youbet.com

In the United States, Youbet.com provides network members the ability to watch and, in most states, the ability to wager on a wide selection of coast-to-coast thoroughbred and harness horse races via its exclusive closed-loop network. Members have 24-hour access to the network's features, including live racing from a choice of all major racetracks in the U.S., Canada and Australia, commingled track pools, live audio/video, up-to-the minute track information, real time wagering information and value-added handicapping products. Youbet Network customers enjoy live coverage from and wagering accessibility to all major racetracks in 40 states, representing virtually 100% of horse racing content.

Youbet.com maintains a strategic relationship with TVG, a wholly owned subsidiary of Gemstar-TV Guide International, Inc. (Nasdaq:GMST). TVG is the 24-hour interactive horse racing network available nationwide on cable and satellite systems with exclusive simulcast and interactive wagering rights to live racing from leading racetracks in the U.S. including Churchill Downs (owned by Churchill Downs Incorporated, Nasdaq:CHDN), Del Mar, Belmont Park, Aqueduct and Saratoga. Through the agreement, Youbet.com is licensed to utilize TVG's patented wagering technology for online and automated telephone applications and utilizes a right to video stream and accept online pari-mutuel wagers on horse racing from virtually all of TVG's exclusive partner racetracks.

Youbet.com operates Youbet.com TotalAccess(TM), an Oregon-based hub for the acceptance and placement of wagers. The Company also maintains a relationship with another state licensed wagering entity, MEC Pennsylvania Racing, part of Magna Entertainment Corp. (Nasdaq:MIEC) which owns and/or operates seven racetracks in the U.S. including Santa Anita Park, Gulfstream Park, Golden Gate Fields, Thistledown, Remington Park, Great Lakes Downs and The Meadows.

For further information about Youbet.com, visit www.youbet.com.

Forward-Looking Statements

Press releases issued by Youbet.com may contain forward-looking statements, which are made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expense and other factors described in the Company's filing with the Securities and Exchange Commission. The actual results that the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. The Company undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release. You Bet is a registered trademark of Youbet.com, Inc. All other brands and products referenced herein are the trademarks or registered trademarks of their respective holders.