SOURCE: MediaG3, Inc.

August 27, 2010 13:00 ET

MediaG3 Announces Shareholder Update, Completion of Financials

BOISE, ID--(Marketwire - August 27, 2010) - MediaG3, Inc. (PINKSHEETS: MDGC) is pleased to announce the company has filed its financial statements for the quarter ending June 30, 2010, as well as updated all Company Information required by Pink Sheets. The company's SEC counsel will submit independent legal opinions required to confirm the accuracy of all information to be true and correct. Once this legal opinion has been filed, MediaG3, Inc. will be "fully compliant" with Pink Sheet regulation, lifting its "OTC Market Tier" from "limited" to "current" information.

"We have gone to great lengths to bring the company's financials into full compliance with Pink Sheets information disclosure rules, including engaging new accountants and SEC attorneys to complete this process," said Val Westergard, MediaG3 chairman-CEO.

Mr. Westergard continued, "With the financials completed, we are now ready to move ahead with announcements, projects and developments we have been working on the past several months. We believe you will share in our excitement regarding upcoming announcements. MediaG3's new Web Site and other materials are scheduled to launch in September which will describe and explain these in more detail."

About MediaG3, Inc.
MediaG3 develops, markets, and delivers broadband wireless technology products and services for today's fixed and mobile customers. MediaG3 has five US wireless technology patents. MediaG3 offers Internet access and Internet telephone via fixed and WiMax mobile wireless throughout the US, under the Imperial Wireless brand. MediaG3 will offer their wireless broadband equipment, technology and technology licensing under the Wytec and Wytec "Next Generation" brands. Wytec and Imperial Wireless are wholly owned subsidiaries of MediaG3. MediaG3 headquartered in San Francisco, CA, has an office and a lab in Boise Idaho. For more information, or to register to receive updates, please visit their corporate site www.mediaG3.com.

Safe Harbor Act:
This release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other unanticipated circumstances.

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