The Asian markets have always been recognized for their mobile society and dependence on the latest mobile technology, eclipsing PC based alternatives. In response to the demand for mobile solutions capable of supporting the latest mobile devices and networks, Phantom Fiber can now bring numerous solutions to the region supporting all of the most popular devices used throughout the Pacific Rim.

The Phantom Fiber mobile platform is a true extension of a client’s website, extending a wide variety of functions and services that were always considered Internet only applications. The companies focus in the Australian & Asian market is initially in three vertical markets: Gaming, Retail, and Financial Services. Phantom Fiber has realized a requirement to expand geographically into this area to further solidify its reach as a global mobile platform. The ability to support local devices and provide a full multi-lingual application allows the platform to quickly adapt to any mobile application.

“Smart Ventures and Beach Hut Media has several existing business relationships in the mobile space in Asia, specifically Japan, Korea and China. The Japanese market has 90 million users alone. Over the past 24 months we have continually run into Phantom Fiber in a number of vertical markets, including gaming and the financial sector. These are areas in which we have incredible exposure in this part of the world. The synergies between our organizations became immediately obvious.” said Brett Goldsworthy, CEO Smart Ventures and Beach Hut Media.

He added “In recent weeks I have worked closely with Jeff and his team in also producing mobile bar coding product strategies for the retail sector in which standard UPC bar codes and more specifically QR codes could be produced on the handsets. This would open up a huge market as that technology is extremely popular in the Asian market and has yet to be done successfully on mobile phones. The manner in which Phantom Fiber delivers rich content in a real time method made us realize we may have an incredible opportunity we could take advantage of. We are receiving a very warm reception thanks to the breadth of the offering from each sector we approach.”

Jeff Halloran, Chairman & CEO of Phantom Fiber stated, “Phantom Fiber has recognized the Asian market as a huge opportunity, however prior to entering such an immense market, you require the right resources and contacts. We have been working with Brett and his team regarding a sophisticated bar coding system for the region to be supported on the regional handsets. Those conversations quickly expanded into our expertise in gaming and the financial sectors, along with increasing our corporate brand. Brett was right there at every turn offering advice and making introductions. We both saw the multi-faceted strategy of having him and his organization represent us in that part of the world. His contacts and experience are sure to deliver immediate results.”

About Phantom Fiber Corporation (www.phantomfiber.com)
Phantom Fiber Corporation is a leading developer of wireless platform software that enables its customers to deliver high-performance applications across global communications networks to mobile users. Their wireless platform extends the rich multimedia content and user experience of existing Internet web sites securely and instantly to over 1,500 mobile devices including cellular phones and PDA’s. This platform is already deployed to most segments of the global gaming industry and can be used by enterprises seeking to implement high performance mobile applications in such markets as: remote video surveillance; banking and brokerage applications; as well as the logistics and distribution markets. For more information about Phantom Fiber, please visit our web site at www.phantomfiber.com

Forward-Looking Statements:

In this press release we make "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results or strategies and can often be identified by the use of terminology such as "may," "will," "estimate," "intend," "continue," "believe," "expect," "anticipate," "could," "potential," "opportunity," or similar terminology. These statements are based upon management's current expectations, assumptions and estimates and are not guarantees of future results or performance. Actual outcomes may differ materially from those projected in these statements due to a variety of risks and uncertainties and other factors, including, among other things: competition; material adverse changes in economic and industry conditions in our markets; technological change; retention and renewal of existing contracts; availability and adequacy of cash flow to satisfy obligations and indebtedness or future needs; protection of intellectual property; security and integrity of software and systems; laws and government regulation, including those relating to gaming licenses, permits and operations; seasonality; dependence on suppliers and manufacturers; factors associated with foreign operations; dependence on key personnel; failure to perform on contracts; resolution of pending or future litigation; labor matters; and stock price volatility. Additional information regarding risks and uncertainties and other factors that could cause actual results to differ materially from those contemplated in forward-looking statements is included from time to time in our filings with the SEC, including our most recent Annual Report on Form 10-K. Forward-looking statements speak only as of the date they are made, and except for our ongoing obligations under the U.S. federal securities laws, we undertake no obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise.

To download a copy of the press release click here

For further information, please contact:

Phantom Fiber Corporation
Investor Relations
First Capital Investors, Inc.
321-221-2910
phfb@firstcapitalinvestors.com

Following on from successful tests at Fiorano, the Ferrari test track in Italy, Andrea Bertolini has been back behind the wheel of the Powered by Ferrari car, putting it through its paces at Imola.

This is the first time the car has run outside the confines of Fiorano but feedback continues to be positive with the car running on both Tuesday and Wednesday.

Testing will continue next week with five-days running scheduled at Guadix Circuit, a recently constructed facility in Spain. The three-kilometre track near Granada has a good mix of fast and slow corners with varying cambers and a 750-metre main straight set against the stunning back drop of the Sierra Nevada mountains.

A1GP General Manager, Technical and Operations, John Wickham: "We've completed about 900-kilometres of testing so far and everything is going relatively smoothly. The car is performing very well and the driver is happy with it; the balance is good and the tyres are working well. We haven't done as much testing as we hoped but that's partly because we were waiting on the weather at Fiorano. We ended up just running in the rain in the end but the car looked very quick in the wet! In general the car has been very reliable. We look forward to five consecutive days running next week with the tight Guadix Circuit ideal for further testing of the handling of the car. "

The official pre-season testing for all the teams will take place at Silverstone on 18 - 20 August 2008 and Mugello on 17 - 18 September 2008.

Teams, drivers, sponsors and officials gathered to pay tribute to the memorable achievements of the season, including Switzerland clinching the championship, Ireland being the most improved team and Canada's Robert Wickens claiming the Rookie prize. Tony Teixeira, Chairman of A1GP, presented A1 Team Switzerland with the World Cup trophy and congratulated all 22 nations on an incredible third season of competition.

'I want to say well done to A1 Team Switzerland. Max Welti and his team have done a great job and I know the fight has been long and hard with the likes of New Zealand, Great Britain and France never letting up and keeping the most amazing amount of pressure on them. But I also want to congratulate all the other teams who have made the year so memorable and contributed to the title fight going down the wire at Brands Hatch.' Pete da Silva, A1GP Chief Executive Officer, paid tribute to an unforgettable season and looked forward to the start of a new era with Ferrari: 'As we celebrate the end of season three, I am sure everyone will agree that we should have a great sense of pride in the huge steps we have taken in establishing A1GP as one of the world's most prestigious motor racing series.

We have travelled to the four corners of the world where the racing has been entertaining and unpredictable. This would not have been possible without the providers of our chassis, engines and tyres - Lola, Zytek and Coopers.

I want to say a special thank you to them and also goodbye as we are moving on for season four, which promises to be even more dynamic and exciting.'

The evening was hosted by A1GP's own commentator Ben Edwards and pit lane reporter Lee McKenzie and they welcomed to the stage Sean Fitzpatrick, former All Blacks rugby player and sports icon, who made a special appearance at the Gala Awards to present A1 Team New Zealand with its trophy for second place in the championship.

Canadian Robert Wickens was named Rookie Driver of the Year. The 19-year-old joined the team at round three in Malaysia and notched up a succession of impressive results for his nation, achieving five podium finishes including Canada's maiden Sprint race victory in Durban. The Toronto-born racer, who was 18-years-old at the time of the Durban event, also became the youngest ever pole-sitter in A1GP. On winning the prestigious driver award, Wickens said: 'Obviously it's been a tremendous honour for me to race in A1GP with A1 Team Canada. I had a great season and was really happy to get a win in Durban and some other podium finishes. The team did a phenomenal job and if it hadn't been for all their hard work and dedication we wouldn't have had the season that we did. It's been a great experience racing in A1GP and I've learned a lot! I'd like to thank everyone involved in A1 Team Canada for giving me the opportunity to compete in a great series.'

In addition, the driving skills of the Canadian star were recognised further with the award for the Most Spectacular Overtaking Manoeuvre of the season. Wickens overtook Germany's Michael Ammermüller during the Sydney Sprint race, which was held in treacherous conditions, putting in an incredible performance to make his way through the pack from 15th to third. 'It had been a fairly challenging weekend before the Sunday at Eastern Creek,' said an overwhelmed Wickens. 'The rain certainly made a difference in the Sprint race but to be honest with you I was able to make up so much ground because the guys on the team gave me a great car on race day. Everything came together and I found a line that worked well for me. To reach the podium from 15th on the grid was pretty memorable but as I said, the team deserves a huge amount of credit for being able to make it happen. It was great to reward their efforts with a trip to the podium. It's nice that we've been recognised for it again with this award and I have to thank A1 Team Canada for the opportunities they have given me!'

The award for the Most Improved A1 Team of 2007/08 went to Ireland. Adam Carroll ended his nation's run of 38 races without a podium finish when he took third in the Brno Sprint race - remarkably on his A1GP debut. Carroll went on to score his and the team's first Feature race win in Mexico City in March and has notched up an impressive four podium finishes during his debut A1GP season. Ireland's success continued as it was also named the Best Presented A1 Team of the series for the third consecutive year. An emotional Mark Gallagher, Team Principal of A1 Team Ireland, said: 'This time last year we won the award for being the best presented team and having the best livery and I said that instead of being all show and no go I'd prefer to be the most improved team in a year's time and we've now achieved that. This year I don't even have to decide which I'd prefer us to win as we now have both! That's completely down to Dave O'Neill (team manager) and the boys in the team, to Adam Carroll, Ralph Firman, Niall Quinn and the fantastic support we've had from all our sponsors.

The victory in Mexico was a major turning point and the way in which the team has finished the season has made all the efforts over the last three years worthwhile. It has renewed our belief that the A1GP World Cup of Motorsport really does offer every country in the world the chance to enjoy success at the very highest level.'

Mexico City's Autodromo Hermanos Rodriguez circuit was named the Best A1GP event of the season and Malaysia beat the Netherlands to scoop the A1GP.com Fanzone Best A1 Team of 2007/08 award. Having finished second in the Fanzone poll, which received a record 7,000 votes, the Netherlands collected the award for A1 Team PR Excellence while ESPN STAR Sports was named Best A1GP Broadcaster of season three.

Full list of winners:

Award: Winner:
2007/08 A1GP World Cup of Motorsport - World Champions A1 Team Switzerland
2007/08 A1GP World Cup of Motorsport - Second place A1 Team New Zealand
2007/08 A1GP World Cup of Motorsport - Third place A1 Team Great Britain
Best A1GP event of 2007/08 A1GP Mexico City, Mexico
Most Improved A1 Team A1 Team Ireland
Rookie Driver of the Year Robert Wickens, A1 Team Canada
Most Spectacular Overtaking Manoeuvre Canada's Robert Wickens overtaking Germany's Michael
Ammermüller during the A1GP Eastern Creek, Sydney Sprint race
A1GP.com Fanzone Best A1 Team A1 Team Malaysia
A1 Team PR Excellence A1 Team Netherlands
Best Presented A1 Team A1 Team Ireland
Best A1GP Broadcaster ESPN STAR Sports