San Diego, CA
11th January,  2002
 

    International Thunderbird Gaming Corporation (TSE - INB) announces the following update concerning the Company’s operations in Mexico:

   The Company’s skill game operation in Reynosa re-opened as of January 8th.  The company had voluntarily closed the operation due to uncertainties brought about by Gobernacion's position that the facility was operating illegally.  However, there is a media report in Mexico that a skill game operator succeeded in its legal challenge in a case before a Mexican Court with applicable jurisdiction late in December 2001. 

    According to the report, the Court ruled that Gobernacion did not have jurisdiction over skill machines. The skill machine operations referenced in the media report are operating again in Ciudad Juarez and in Mexico City. The opening of these facilities is strong evidence of the importance of this case because this operator is the only other known skill game operator in Mexico. The media report of the Court ruling is clear that the legality of operation of skill machines was resolved in favor of the operator.

    In the Company’s Amparo proceeding in Reynosa, Gobernacion alleged that they had not made and were not making any threat to close the Reynosa facility.  This assertion was made after Gobernacion already closed our facilities in Matamoros and in Nuevo Laredo.  In light of these new developments, the Company hopes to continue to operate an enjoyable and safe recreational activity for the people of Reynosa. In addition, the Company will continue to pursue its claims against the Government of Mexico to allow the immediate reopening of the Matamoros and Nuevo Laredo facilities. 

    Thunderbird is aggressively researching the Court’s ruling referenced in the media report, and its implications for Thunderbird’s operations in Nuevo Laredo and Matamoros. Further research is necessary to determine the impact on Thunderbird’s operations and legal cases. The government may continue to act in an arbitrary manner, as we have no assurances that the government will respect a decision of its Court. 
 

    International Thunderbird Gaming Corporation is an owner and manager of international gaming facilities. Additional information about the Company is available on its World Wide Web site at www.thunderbirdgaming.com
 

On behalf of the Board of Directors,

Jack R. Mitchell
President and CEO
 
 

Cautionary Notice: This release contains certain forward-looking statements within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential revenue and future plans and objectives of the Company are forward-looking statements that involve risk and uncertainties. There can be no assurances that such statements will prove to be accurate and actual results could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's forward-looking statements include competitive pressures, unfavorable changes in regulatory structures, and general risks associated with business, all of which are disclosed under the heading "Risk Factors" and elsewhere in the Company's documents filed from time-to-time with the TSE and other regulatory authorities.