On March 11, 1999, a justice of the South African Supreme Court determined that the 1998 gaming license award to a competing consortium was legally deficient and ordered the licensing process to be reconsidered by local gaming authorities. Adverse parties have the possibility to appeal the ruling. Century, through a subsidiary, has a long-term casino management agreement with and a minority equity stake in Silverstar, relating to a proposed $70 million, 1,700 gaming position hotel/casino resort development in Western Johannesburg. A Silverstar spokesperson expressed optimism that its gaming license application will be given proper consideration by licensing authorities, although no assurance can be given that a casino license ultimately will be issued to Silverstar. 

To date, no timetable for the gaming license reconsideration has been established.

Erwin Haitzmann, Chairman and CEO of Century Casinos, stated: "We are very pleased with the recent court decision, and should our consortium be successful in obtaining a gaming license, we believe significant revenues would be possible for Century. To date, all of the major casinos in the greater Johannesburg area have operated in temporary facilities. Should Silverstar be awarded a gaming license, its management contemplates that a temporary gaming facility would be put into use shortly thereafter."

Century Casinos is an international casino company led by a team of gaming industry professionals with experience developing and operating casinos in 25 different countries. The Company owns and operates the Womacks/Legends Casino in Cripple Creek, Colorado and currently has several projects in various stages of development.

Information herein contains forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995, which can be identified by words such as "may," "will," "expect," "anticipate," "estimate," or "continue," or comparable words. In addition, all statements other than statements of historical facts that address activities of the Company expects or anticipates will or may occur in the future are forward-looking statements. Readers are encouraged to read the reports of the Company filed with the Securities and Exchange Commission, particularly the Company's Form 10-KSB for the year ended December 31, 1997, for meaningful cautionary language disclosing why actual results may vary materially from those anticipated by management.