Strategy First Signs Dangerous Waters

For Immediate Release

Montreal, Canada. September 15, 2005. Software publisher Strategy First, Inc. a wholly owned subsidiary of Silverstar Holdings, Ltd. (NASDAQ: SSTR), and Sonalysts, Inc. are thrilled to announce the signing of the realistic naval simulation "S.C.S - Dangerous Waters^TM." This all encompassing naval simulator will be available at all major retail outlets before 2006.

"I am pleased to announce that Strategy First has the worldwide rights for this groundbreaking game from one of the most experienced developers of military simulations," said Pro Sotos, Business Development Manager at Strategy First. "Dangerous Waters is the most innovative and immersive naval simulation game ever developed. With the game's scalable gameplay, it will appeal to both new and experienced military gamers alike."

"We're very excited to be collaborating with Strategy First to bring to the retail market the first title of our Sonalysts Combat Simulations brand, 'S.C.S. - Dangerous Waters', " said Kim Castro, Executive Producer at Sonalysts. "We believe that we've found an excellent partner with Strategy First that will not only help build and support our growing naval gaming community, but will also market our titles to a diverse range of simulation, war-gaming, and strategy gaming enthusiasts. We are confident that the consumers will all enjoy the innovative gameplay found in "S.C.S. Dangerous Waters."

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 an extremely deep game that presents gamers with a rewarding and challenging gaming experience. Fans of Sonalysts' last game, "Sub Command^TM", will definitely want to get their hands on this title. Appealing to both novice and advanced gamers, Sonalysts has been listening to its community and has provided a gaming experience that is like nothing available on the market today.

For all game related information please visit http://strategyfirst.com/en/games/DangerousWaters/

Features:

• Dangerous Waters gives players control over ten of the world's most potent naval platforms. Some of which include: Oliver Hazard Perry Class guided-missile frigate, MH-60R Seahawk helicopter, P-3C Orion patrol aircraft, Kilo class 636/877 diesel submarine, Seawolf class SSN, Akula I/II class SSN, 688 (I) class SSN.

• Cooperative and head-to-head multiplayer modes allow controllable submarine, surface, and air platforms to battle it out in a definitive naval combat experience.

• Multi-player support and multi-station mode. Players compete against each other, can collaborate with each other to succeed, and can operate individual crew-stations in multi-station mode to work together as a team and achieve the mission objectives.

• Innovative AI allows players to tailor the game's difficulty level and "Autocrew" functionality allows the player to customize the level of micromanagement they desire.

• Full mission editor that was used by the designers to create all of the game's missions and campaigns in included. Dynamic and persistent campaigns can be created easily in the mission editor.

• Includes a handy Quick Mission generator composed of an infinite combination of mission goals, enemy forces and random locations.

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/Killer^TM, Jane's Fleet Command^TM, and Sub Command^TM. 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 Iran, 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. For more information about Strategy First, please visit: http://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.

For more information please contact:

Jessica Hawker

Marketing Coordinator

Strategy First

jhawker@strategyfirst.com