Three Rings Announces 2 Millionth Registered Pirate for Its Online World

San Francisco, CA - July 27, 2006 - Three Rings Design, Inc., a premier developer of multi-player online casual games, announced today that it has crossed over the 2 million registration mark for its popular online game "Puzzle Pirates."

The company has seen a dramatic increase in registrations with its shift from subscription pricing to a "free-to-play" model that includes the option of purchasing micro-currency. Players can then spend their micro-currency on in-game upgrades and additional content. "Three Rings is leading the charge for micro-currency in the US market, and reaching 2 million registrations confirms our success. We believe that this model represents the future for online entertainment," said Daniel James, Three Rings' CEO. "Our inspiration continues to be the Korean market, where 'free to play, pay for item' is the ubiquitous business model for online games. As the US market matures to meet Korea, we intend to keep leading the way."

The company is riding some powerful trends in digital entertainment - the popularity of casual games, a move towards the massively multiplayer, and the ascent of digital distribution. With the shift to "freemium" pricing, the company is rapidly growing its user base and recently closed a Series B financing to accelerate the distribution and development of its games.

Additionally, the company recently released the beta version of a new game, "Bang! Howdy," a multiplayer online tactical strategy game for the PC which uses the same payment structure and online distribution model. To learn more about Three Rings and or "Puzzle Pirates," please visit the web site at: http://www.puzzlepirates.com. About Three Rings:

Three Rings is a premier developer of multi-player online casual games and a market leader in the integration of social networking, virtual economies, and entertainment within its gaming platforms. Since launching "Puzzle Pirates" to international acclaim in 2004, the company has quickly become one of the most popular and well-respected makers of online games. The games are free to play and have virtual economies with unique micro-currencies. The company's games are currently played in more than 50 countries. More information on Three Rings can be found at http://threerings.net/ and "Puzzle Pirates" can be found at http://www.puzzlepirates.com/