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Put Away Those Other Racing Games Because FlatOut Ultimate Carnage Has Just Gone Gold!

LONDON, ENGLAND&HELSINKI, FINLAND, June 13, 2007– The nitrous tanks are charging and the V8 engines are revving as Empire Interactive, a wholly owned subsidiary of Silverstar Holdings (NADAQ: SSTR), is excited to announce that FlatOut Ultimate Carnage has now gone gold, and is set to give the green light to the year’s most destructive and high-octane Xbox 360™ racer on June 22nd.

Exceeding the already high expectations set for the game, FlatOut Ultimate Carnage has been hailed by the Specialist Gaming media as one of the best looking and technologically advanced racing games on the Xbox 360 platform.“Wow, no seriously WOW!” wrote Xbox 360 World.“We’ve played it and we’re very, very hot for it. Beautiful” said Games Radar.“…set to take the 360 by storm” according to 360 Gamer and“…this really can't be beaten” from Gamesmaster.

The game, owned by Empire and developed by Bugbear Entertainment of Finland, is a gameplay and graphic triumph. Commenting on the completion of the game, Empire European Marketing Manager, Rob Noble said,“It's done! All the hard work is over and FlatOut Ultimate Carnage is ready to hit the primetime and to take its rightful place as the number one destruction racer on the market. This is one game you need to check out for its amazing action, spectacular visuals and just superb action racing!”

Building on the success of FlatOut 2, including multiple Racing Game of the Year awards and its status as an Xbox Live multi-player favourite, European support is focused on Xbox 360 websites and Xbox live marketplace.

"The media is tightly targeted towards 360 specialist websites for front-of-site rich media advertising. Xbox 360 gamers will see the ads more than two million times. This will include video footage of the destruction racing and invite people to enter competitions to win the chance to drive FlatOut Racing Experiences. The video trailer is now on Marketplace, the downloadable playable demo will be next and www.flatoutgame is designed to deliver the feel of the chaotic destruction in FlatOut with video, 3D screens, music and a special focus on the new Deathmatch Derby mode” added Noble.

The first phase of the marketing blitz is to over three million dedicated gamers in Europe through the Xbox Community Network (XCN) and through playable demos made available through Xbox Live. Additionally, the game will receive extensive advertising support through both electronic and print media sources.

For more information on one of the most destructive, high-octane, technologically advanced and simply breathtaking racing games ever, head to www.flatoutgame.com

ENDS

For further game information, materials or interviews, please contact;

Simon Callaghan

JohnnyAtom Productions

Tel; +44 7867 514554

Email; simon.callaghan@ukonline.co.uk

About Empire Interactive:

Empire Interactive is a leading publisher of interactive entertainment software that has been established for 19 years. Headquartered in the UK, Empire Interactive also has offices in the US, Germany, France and Spain. The company develops and publishes a varied range of titles for all current platforms in the US, Europe and Asia. Games such as Starsky&Hutch, Big Mutha Truckers, Ford Racing and Flat Out have all enjoyed success across the world. Its budget label, Xplosiv, is one of the fastest growing in Europe. Further information about Empire Interactive and its products can be found at www.empireinteractive.com.

About Silverstar Holdings:

Silverstar Holdings Ltd. is a publicly traded company (NASDAQ: SSTR), focusing on acquiring controlling positions in high-growth retail-driven and fee-based electronic game businesses that stand to benefit from the economies of scale generated by the Internet and other technology-related platforms. It currently owns Empire Interactive, PLC and Strategy First, Inc., a leading development and worldwide publisher of entertainment software for the PC.

About Bugbear Entertainment Ltd:

Bugbear Entertainment Ltd. is an award-winning Finnish game developer focusing on action driving games with over 2.7 million units sold to date. The company’s worldwide blockbuster hits are the highly innovative FlatOut and FlatOut 2 on PlayStation 2, Xbox and PC CD with over two million units sold worldwide. Bugbear's international breakthrough was the critically acclaimed PC title Rally Trophy in 2001, which was followed with Tough Trucks on PC in 2003. An N-Gage exclusive story-driven arcade racer Glimmerati was published in July 2005 to rave reviews. The company has just finished FlatOut Ultimate Carnage for Xbox 360 and is working on other unannounced projects. For more information please visit www.bugbeargames.com.

About Xbox 360:

Microsoft revolutionized the gaming industry with the November 2001 launch of Xbox ( www.xbox.com), its first-generation video game and entertainment system, now sold in 26 countries. Microsoft introduced its next-generation system, Xbox 360™ video game and entertainment system from Microsoft, in the 2005 holiday season in Europe, Japan and North America, and launched the system in Australia, Colombia, Hong Kong, Korea, Mexico, New Zealand, Singapore and Taiwan in 2006. Xbox 360™ video game and entertainment system from Microsoft ( www.xbox.com) is the most powerful video game and entertainment system, delivering the best games, the next generation of the premier Xbox Live online gaming service, and unique digital entertainment experiences that revolve around gamers.

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.

Games Press

Games Press is the leading online resource for games journalists. Used daily by magazines, newspapers, TV, radio, online media and retailers worldwide, it offers a vast, constantly updated archive of press releases and assets, and is the simplest and most cost-effective way for PR professionals to reach the widest possible audience. Registration for the site and the Games Press email digest is available, to the trade only, at www.gamespress.com