Harvard Law Meets Texan Poker Icon: Crandell Addington, Gold Reef International, Inc., Chairman, Shares Lessons Learned at the Poker Table

    Hall of Famer Says It's a Game of Skill...and a Fine Educational Tool

    CAMBRIDGE, MASS., October 16 /CNW/ - Poker Hall of Fame member and
legendary World Series of Poker player Crandell Addington had a simple message
for Harvard University law students, faculty and others: Poker is a microcosm
of life, and good players make their own luck in both arenas.

    Addington was invited to participate yesterday in a forum, "Poker: A Game
of Truth in Life and Law," by Harvard Law Professor Charles Nesson. Nesson, an
advocate of poker as a means for teaching valuable entrepreneurship and life
skills, recently founded the Global Poker Strategic Thinking Society
(www.gpsts.org), which now has chapters at a number of universities in the
U.S. and overseas. The organization uses poker to teach skills such as
strategic thinking, geopolitical analysis, risk assessment and money

    Addington, who has reached the final table of the World Series of Poker's
Main Event seven times -- more than any other player -- and is a member of the
Poker Hall of Fame, credits his success in business to lessons he learned as a
high-stakes poker player. He founded a successful oil and gas exploration
company and ran it for more than 30 years and is currently chairman of Gold
Reef International, Inc., a Canadian public company (CNQ:GRIN), which he
co-founded, focused on precious metals exploration. He is also CEO and
chairman of Phoenix Biotechnology, Inc., another company he co-founded, which
is developing a novel and promising cancer drug.

    "There are so many parallels between poker and business," Addington said.
"High-stakes, no-limit poker games and business ventures each offer their own,
unique dynamics. Both are battlefields upon which players must make rapid
strategic shifts and tactical implementations, even if these shifts happen
much faster in a poker game than in business. And successful players in poker
and business must identify their preferred outcome and use their skills to
affect that outcome. That's why poker is a game of skill, not chance as many
people mistakenly believe."

    Based in San Antonio where he leads his business projects, Addington was
born in Graham, Texas. He is an honors graduate of Southwestern University and
did post-graduate studies at Trinity University.

For further information:

For further information: Dublin and Associates, San Antonio Eric
Whittington, 210-227-0221, ext. 239 or Joel Williams, 210-227-0221, ext. 231

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