Business Editors

HAMILTON, Bermuda--(BUSINESS WIRE)--May 17, 2002

Creator Capital Limited (OTCBB:CTORF) ("CCL") is pleased to release its revenue and results of operations for the first quarter ended March 31, 2002.

                                   Three Months Ended      Year Ended
                                  March 31    March 31    December 31
                                    2002        2001          2001
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Revenue                        $   119,248   $ 151,210    $   561,030
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Operating Expenses
  General and administrative        50,519      58,683        156,757
  Consulting and contract
   labor                            27,800      51,990         94,357
  Marketing                          5,583           -         25,308
  Legal                              5,316       2,119          7,853
  Depreciation and amortization     22,951     109,743        243,239
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                                   112,169     222,535        527,514
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                                     7,079     (71,325)        33,516
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Other (Income) and Expense
  Interest expense                     (55)          -         (1,153)
  Interest income                      186         465         18,164
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                                       131         465         17,011

Net gain (loss)                $     7,210   $ (70,860)   $    50,527
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BASIC AND DILUTED LOSS PER SHARE
Numerator for basic and diluted
 loss per share:
  Net gain (loss)                    7,210     (70,860)        50,527
  Preferred stock dividends        (51,688)    (86,740)      (203,399)
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Income gain (loss) to common
 shareholders                  $   (44,478)  $(157,600)   $  (152,872)
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Denominator for basic and diluted loss per share:
  Weighted average shares
   outstanding                  90,424,191  50,000,000     70,385,000
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----------------------------------------------------------------------

Net loss per share             $     0.0005 $     0.003    $     0.002
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Revenue from operations for the three months ended March 31, 2002 was $119,248 compared to $151,210 during the three months ended March 31, 2001. Revenue consisted of fees generated from the Sky Play amusement games acquired with the purchase of IIL. The decrease in revenue reflects the fact that the number of airlines licensed to use the Company's software has decreased even though the number of aircraft flying with Sky Play remained static at 141. This result is directly attributable to the current budgetary constraints of the airline industry in general.

Net gain of $7,210 for the three months ended March 31, 2002 compared to a loss of $70,860 for the three months ended March 31, 2001 reflects the continuing efforts of management to contain expenses, along with the significant decrease in the depreciation and amortization expenses.

General and administrative expenses decreased from $58,683 in the 2001 period to $50,519 in the 2002 period.

Consulting and contract labor expenses have decreased from $51,990 to $27,800. Product marketing increased from $0 to $5,583 and legal expense increased from $2,119 to $5,316.

Depreciation and amortization expenses decreased by $86,792 to $22,951.

Asset China Investments has informed CCL that the investment through Beacon Hill Enterprises in the Chinese Lottery business, including the Soccer Betting Lottery and the World Cup Lottery is proceeding as planned. Sales of World Cup Soccer Lottery tickets betting on the World Cup matches will officially begin in China on May 18, 2002.

About Creator Capital

Creator Capital Limited is a Bermuda exempted company. CCL holds an investment in a China Lotteries Project. The Company introduced the in-flight interactive gaming experience to international airline passengers as a method of creating additional revenues for airlines. Creator Capital's two products are Sky Games and Sky Play. Sky Games consists of interactive gaming, such as Blackjack (21), Draw Poker, and Slots. Sky Play consists of interactive PC amusement games such as Mah Jong, Solitaire and Chess.

ON BEHALF OF THE BOARD OF DIRECTORS

Deborah Fortescue-Merrin, President

Safe Harbour statements under the Private Securities

Litigation Reform Act of 1995; - this release contains forward looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21B of the Securities Exchange Act of 1934. Any statements which express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact, may be foreword looking statements. Forward looking statements are based upon expectations, estimates and projections at the time the statements are made, which involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated.

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