EMPIRE INTERACTIVE ANNOUNCES FLATOUT ULTIMATE CARNAGE FOR PC

For immediate Release

LONDON, 4th February 2008– Empire Interactive, a wholly owned subsidiary of Silverstar holdings (NASDAQ: SSTR), announces that the PC-DVD ROM version of the best selling arcade racer FlatOut Ultimate Carnage is currently in development and is due for release in June 2008.

Award-winning Finnish studio and creators of FlatOut, Bugbear Entertainment are currently developing FlatOut Ultimate Carnage for PC. The FlatOut series has enjoyed global success on multiple formats selling over 2 million copies. The latest instalment, FlatOut Head On for the Sony PSP is due for release on 14th March 2008.

Ian Higgins, CEO of Empire Interactive commented,“We are very excited about bringing FlatOut Ultimate Carnage to PC gamers. Research suggests that arcade racers are becoming ever more popular on the PC, with the Xbox 360 controller providing the perfect way to enjoy the genre. Ultimate Carnage is an entirely new prospect for PC and we’re excited to be bringing FlatOut’s unique gameplay experience to PC gamers everywhere.”

Clive Kabatznik, CEO of Silverstar Holdings added,“The FlatOut series has been a global success story for Empire and we are delighted that Ultimate Carnage will now be made available to PC gamers. With over 2 million sales globally the FlatOut franchise is an important part of the Empire portfolio and we are sure that the FlatOut Ultimate Carnage for PC will only add to the ongoing success and bring new fans to the title.”

Jussi Laakkonen, Business Development Director of Bugbear Entertainment noted,“We’ve witnessed fanatical anticipation and demand for FlatOut Ultimate Carnage to be released on PC ever since we announced the Xbox 360 release. It gives us great pleasure to be finally providing what FlatOut fans have long been clamouring for!”

FlatOut Ultimate Carnage for PC launches globally in June 2008.

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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, Spain and Italy. 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 FlatOut 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:

Bugbear Entertainment Ltd. is an award-winning Finnish game developer of action driving games. The company’s worldwide blockbuster hit is the FlatOut franchise with over 2 million units sold. The company's other past games include Rally Trophy (PC, 2001), Tough Trucks (PC, 2003) and Glimmerati (N-Gage, 2005). In year 2007 Bugbear released the highly acclaimed FlatOut Ultimate Carnage for Xbox 360 and Sega Rally for PlayStation Portable. The company is currently working on FlatOut Ultimate Carnage for PC and other unannounced projects. For more information please visit www.bugbeargames.com


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