Strategy First Announces Urban Empires

For Immediate Release!

Montreal, Canada. October 2nd, 2007. Software Publisher Strategy First Inc., a subsidiary of Silverstar Holdings, Ltd. (Nasdaq: SSTR), announced its commitment today to complete the RTS and 3rd person shooter game "Urban Empires." Developed by Radioactive Software, Urban Empires is set to be releasing worldwide early 2008. Attached are new screenshots for "Urban Empires".

"Urban Empires is a gang simulation which strives to fill a void in the world of strategy games. It features two gameplay modes: Command and Action. These two modes allow you to choose the degree of management involvement you wish to engage in," says Danny Green, President of Radioactive-Software.

"I'm very excited to have Radioactive-Software's first title published by Strategy First. It has been a great relationship so far, and I look forward to working with them on Urban Empires and future titles," says Green.

About Urban Empires

Gang wars are sweeping the city and you aren't the only point man looking for control. Enter Urban Empires' 3D gang simulation and rival other gangs to win city reign. Use your street smarts, hustling abilities, and sheer intimidation to expand your territory. You must manage your businesses carefully as you fight to dominate drug trafficking, extortion, robbery, and underground investments. Earn money to buy new guns, cars, drugs, gangsters and even legitimate businesses. Plot your strategy and choose your gangsters carefully, as they are all rated on their street skills and remain your full responsibility.

Urban Empires is a real-time strategy game which possess both strategic and action elements. At any point in time, you can jump down and take control of your individual gang members. The game then changes from strategy to action where you're free to do anything from stealing vehicles to mugging citizens. Enjoy the liberty of Urban Empires' open-ended gameplay.

Key Features:

For more information on "Urban Empires" please visit: http://www.strategyfirst.com/en/games/UrbanEmpires/

About Strategy First Inc

Strategy First Inc., a wholly owned subsidiary of Silverstar Holdings (Nasdaq: SSTR), is a leading developer and worldwide publisher of entertainment software for the PC. Founded in 1990, the Company is well known for its proprietary groundbreaking titles, such as the award winning Disciples, Jagged Alliance and Space Empires series of games, which are under continuing development. Simultaneously, Strategy First continues to publish many of the industry's major titles, winning numerous awards for games such as "Hearts of Iron", and "Galactic Civilizations." Recent offerings include top releases such as "S.C.S. - Dangerous Waters" and "Space Empires V," and "Making History: The Calm and the Storm." The Company provides a unique alternative for independent developers seeking to market their games to a worldwide audience. www.strategyfirst.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. as well as a stake in Magnolia Broadband. Empire Interactive PLC is a leading developer and publisher of interactive entertainment software games such as Starsky & Hutch, Big Mutha Truckers, Ford Racing and FlatOut. Empire's products are delivered on both console and PC platforms. Strategy First Inc. is a leading developer and worldwide publisher of entertainment software for the PC. Magnolia Broadband is a fabless semiconductor company and innovator of radio frequency (RF) solutions for the cellular industry.

About Radioactive Software

Radioactive-Software is a dynamic game development studio that was started in 2001. Although the studio has worked on several titles in that time, Urban Empires is Radioactive Software's first commercial production. Radioactive-Software places emphasis and strives for realism both creatively in game environments and strategically to improve gameplay. Radioactive-Software is dedicated to creating unique games, and providing players with an entertaining experience. www.radioactive-software.com

The statements which are not historical facts contained in this press release are forward looking statements that involve certain risks and uncertainties, including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, regulatory approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the company's filings with the Securities and Exchange Commission