SOURCE: MediaNet Group Technologies, Inc.

MediaNet Group Technologies, Inc.

January 05, 2010 08:00 ET

MediaNet Group Technologies Opens Worldwide Headquarters in South Florida

Company Operations and Training Center for Business Associates

MARGATE, FL and BERLIN--(Marketwire - January 5, 2010) - MediaNet Group Technologies, Inc. (OTCBB: MEDG) today announced that they will open their Worldwide Headquarters in Boca Raton, Florida on February 1, 2010.

As part of the recent completion of the merger between MediaNet Group Technologies and the DubLi Companies, the Company has leased new office space and is relocating its senior Management Team and other key employees from Berlin, Germany to its new offices. In addition, the Company intends to create several new jobs in the area.

The Company has leased approximately 11,000 square feet in Boca Center, a central business area in South Florida. The Company expects to employ approximately 25 in its new office location including the 10 employees from their BSP Rewards division which is currently located in Margate, Florida.

The Company also plans to utilize its new facility as a Worldwide Training and Development center for its global network of Business Associates. The Company offices in Berlin, Germany comprised of 30 employees will remain open to facilitate European operations.

Michael Hansen, President and Chief Executive Officer of MediaNet Group Technologies, said, "After an analysis of several potential locations throughout the world, we decided that the U.S. makes the most strategic sense for building and developing our worldwide global operations. Specifically, the east coast of the US provides easy access for our Business Associates throughout the US as well as for those in Europe. We are excited about growing our operations in the United States as inroads into the market have proven very successful."

About MediaNet Group Technologies, Inc.:

MediaNet Group Technologies is a publicly held Company (OTCBB: MEDG). The main emphasis of the company operations rests in our, Dubli Network and BSP Reward divisions.

DubLi is a worldwide online auction portal. It is composed of two very unique and individual business models; -- a reverse auction portal for high level branded merchandise offered at highly competitive prices and DubLi Network -- the business opportunity where individuals around the world can establish their own business in a competitive market. The success behind's 'reverse auction' lies in the formula of being able to drive down prices incrementally with bids placed by consumers. It is a value based proposition where a consumer will buy when the price reaches a point of interest to the buyer.

BSP Rewards is an extremely affordable Private Branded "customer relationship marketing program" and "communications solution" that utilizes our proprietary loyalty and internet rewards mall platform and applications. The BSP Rewards Mall licenses our proprietary rewards on-line mall platform, and builds "merchant funded" private branded programs both for profit and non-profit organizations. Our program offers a large base of merchants that offer rewards to our clients' members and a unique platform that can be layered onto debit cards.

"Forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. MediaNet Group Technologies, Inc. disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions (including in the information technology and financial information industry), actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services, changes in our business strategies, and the purchasing activity or lack thereof by registered web mall members.

Contact Information

  • Contacts:
    MediaNet GroupTechnologies, Inc.
    Michael Hansen
    Chief Executive Officer