Dangerous Waters Goes Gold
Montreal, Canada. October 31, 2005. Software publisher Strategy First, Inc. a wholly owned subsidiary of Silverstar Holdings, Ltd. (Nasdaq: SSTR), and Sonalysts, Inc. are pleased to announce that the ultimate naval warfare title, "S.C.S - Dangerous WatersTM" has gone gold. "S.C.S - Dangerous WatersTM" will be available for purchase at all major retailers on November 22, 2005 at a suggested retail price of $39.99.

"With the guys at Sonalysts steering the ship, you know this title is going to be rock solid, and as realistic as it gets without sending you diving for the closest lifeboat!" said Jay Podilchuk, Producer at Strategy First. "Dangerous Waters pushes naval sims to a whole new depth. This multi-platform monster will be sure to please any armchair admiral aiming to rule more than just the ocean's surface."

"Sonalysts is very pleased to be working with the folks at Strategy First to bring this latest version of Dangerous Waters to retail. Our goal was to make a high-fidelity naval simulation that was both scalable in complexity and fun to play," said Jamie Carlson, Producer and Game Designer at Sonalysts. "As testimony to the authenticity of Dangerous Waters, the U.S. Navy is using it as a primary component in a front line training system for shipboard aircraft controllers. We expect this game to bring many hours of enjoyment, excitement and challenges."

About Dangerous Waters
"Dangerous Waters" is a modern naval warfare simulator that gives players absolute control over multiple air, surface, and submarine platforms. Players will engage the enemy on, above, and below the ocean's surface as commander of ten of the world's most effective naval platforms. Gamers will focus their attention on taking direct control of individual crew stations, from sonar and radar rooms to weapon control and navigation consoles. Missions in "Dangerous Waters" are interconnected, with all consequences from previous missions affecting the next. In the campaign, gamers can play as the U.S., Russian, or Chinese forces. Dangerous Waters is rated Everyone by ESRB.

For more information on "S.C.S - Dangerous WatersTM" please visit:
http://strategyfirst.com/en/games/DangerousWaters/

About Sonalysts, Inc.
Sonalysts, Inc., based in Waterford, CT, is an employee-owned business with 450 employees. Its annual sales are in excess of $50M and it has been serving government and commercial clients since 1973. Sonalysts began developing computer simulation games for the commercial market in the mid-nineties as part of its diversification plan following the end of the Cold War. Sonalysts has developed three PC naval simulation games to date - 688(I) Hunter/KillerTM, Jane's Fleet CommandTM, and Sub CommandTM. Each of these games has won a variety of awards from "Best Combat Sim of the Year" to "Best Maritime Sim" of 2001. Sonalysts' games provide the user with a scalable experience so that the most dedicated simulation and casual players can both equally enjoy them. All of the games (including S.C.S. - Dangerous Waters) are being used by the U.S. military for training and/or as a simulation analysis tool. Jane's Fleet Command has been used by ABC and NBC News to assist in broadcast visualization of military operations in Iraq, Kosovo, and Afghanistan.

For more information about Sonalysts, Inc., please visit: http://www.sonalysts.com.

For information on all Sonalysts games, please visit: http://www.sonalystscombatsims.com.

About Strategy First
Strategy First, Inc. is a leading developer and worldwide publisher of entertainment software for the PC. Founded in 1990, the Company has grown rapidly, publishing major games in the industry such as "Supreme Ruler 2010" and "Disney's Aladdin Chess Adventures" and simultaneously developing its own in-house titles such as "O.R.B." and "Disciples II". After winning numerous awards for games such as "Disciples: Sacred Lands", "Kohan: Immortal Sovereigns", "Steel Beasts", "Galactic Civilizations", and "Jagged Alliance", Strategy First continues to push the gaming envelope with its own groundbreaking titles, while maintaining its reputation as a unique alternative for independent developers seeking to market their games to a worldwide audience. www.strategyfirst.com .

About Silverstar Holdings
Silverstar Holdings Ltd. is a publicly traded company, focusing on acquiring controlling positions in high growth fee-based electronic game businesses that stand to benefit from the economies of scale generated by Internet and other technology related platforms. It currently owns Fantasy Sports, Inc., a dominant provider of fee based NASCAR related and other fantasy sports games, Strategy First Inc., a leading developer and worldwide publisher of entertainment software for the PC, as well as a stake in Magnolia Broadband, a fab-less semiconductor company and innovator of radio frequency (RF) solutions for the cellular industry. www.silverstarholdings.com

The statements which are not historical facts contained in this press release are forward looking statements that involve certain risks and uncertainties, including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, regulatory approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the company's filings with the Securities and Exchange Commission.
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