SOURCE: MGN Technologies, Inc.

September 20, 2006 16:07 ET

MGN Technologies, Inc. -- Corporate Update

KIRKLAND, WA -- (MARKET WIRE) -- September 20, 2006 -- The company is pleased to announce that progress is being made in their effort to joint venture with a Nevada-based casino company. In the second quarter of this year, MGN Technologies, Inc. (OTCBB: MGNLF), doing business as Mobile Gaming Now, made presentations and discussed plans with 7 casino companies who own/operate or control over 40 land-based casinos. The discussions were focused on rolling out a joint venture play-for-free and play-for-prizes sweepstakes game.

Mobile Gaming Now has taken the unique approach of working within established legal guidelines within the North American market for Internet marketing and gaming. By establishing relationships with the casinos, the company will be poised to launch real gambling when, and if, the North American regulations change.

MGN, in coordination with 2 Nevada Casino companies, is applying for approval of their plan with the Nevada Gaming Commission. Necessary approvals are expected in the fourth quarter of this year, which would then allow formal agreements to be put in place between the parties.

Launching of the MGN play-for-free and play-for-prizes games would commence within 90 days of approvals.

Further information will be released upon the company gaining the expected approvals.

For more information please contact MGN Technologies, Inc. at toll free 1-888-602-9596 or visit our website at www.mobilegamingnow.com

About Mobile Gaming Now

Mobile Gaming Now is a software developer and marketer. With offices in Kirkland, Washington and Vancouver, British Columbia. The Company operates its own gaming sites, as well as licenses its platform to strategic partners. The Company developed the first multi-player Texas Hold'em game for free or money with integrated PC and mobile play. Please click onto www.mobilegamingnow.com for more information.

Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations and/or claims.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others: (i) the risk that current or future licensees of the Company's products are restricted by laws or regulations concerning gaming or related activities; (ii) the inability of the Company to license its products to licensees as a result of disputes over terms; (iii) the inability of the Company to keep pace with technological advancements in the mobile entertainment industry; (iv) the Company's software not operating as expected; (v) the Company suffering technological problems that the Company cannot economically repair; (vi) the Company not being able to retain key employees; (vii) competitors providing better or cheaper products; (viii) markets for the Company's products not developing as expected; (ix) the Company's inability to finance its operations or growth. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligations to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations, or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to risk factors disclosed in the Company's periodic reports filed from time-to-time with the Securities and Exchange Commission and available at www.sec.gov.

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