SOURCE: MediaNet Group Technologies, Inc.

January 15, 2008 08:00 ET

MediaNet Group's BSP Branded Web Malls Selected by Affinity Program Developer for Fortune 1000 Companies

MARGATE, FL--(Marketwire - January 15, 2008) - MediaNet Group Technologies, Inc. (OTCBB: MEDG), a leading developer of private branded web malls and online affinity programs through its BSP Rewards subsidiary, announced today the formation of a strategic marketing agreement with Meridian Enterprises Corporation, a leading national affinity, incentive and sales promotion firm with a Fortune 1000 clientele. As part of the agreement, BSP will develop private branded web malls as a platform for Meridian to offer their clients an enhanced value-added benefit that can be customized for corporate incentive programs.

Meridian Enterprises is a full-service performance improvement company that designs and administers Employee Reward & Recognition, Sales Incentive, Channel Marketing and Consumer Loyalty Programs for Fortune 1000 companies. Programs are designed to improve business results. Privately owned Meridian is headquarters in St. Louis, MO, maintains sales offices nationwide, and has been in business for 30 years.

Meridian is an innovation leader in the incentive industry, having invented and patented the incentive card, known as the "MeridiCard." According to Sam Toumayan, the Founder, CEO and President of Meridian, "Our clients tell us that the MeridiCard vastly improves their incentive programs by giving their participants far more choice and significantly better value than traditional merchandise catalog programs. The MeridiCard, which is available as either a credit card or stored value card and is brandable for corporate clients, allows participants to shop with their incentive points anywhere MasterCard is accepted and for true retail value. The addition of BSP Rewards online malls will further enhance our MeridiCard product by providing corporate clients with customized online malls matching their creative look, adding unique branding and shopping features, and empowering their participants with even more spending value with Bonus Reward Points that are funded by the merchants. This is a real win-win-win and a very exciting new innovation in the incentive industry."

"The agreement announced today with Meridian Enterprises is the latest milestone for our leading platform of web malls from BSP Rewards," said Martin Berns, Chief Executive Officer of MediaNet Group Technologies. "We are executing on our strategy to attain national recognition for BSP Rewards, already the leading online shopping mall with over 725 retail stores and other merchants offering products and services to one of the fastest growing retail segment. Our intent is to form relationships with outstanding companies such as Meridian and provide them and their customers with access to a personalized online shopping experience for their favorite items while saving money and earning cash value points that can be utilized for incentives, recognition and loyalty. We expect that Meridian will add to the impressive growth in the number of members, which amounted to nearly 1 million at the end of 2007. BSP receives revenue on each e-commerce transactions."

Meridian provides its corporate clients with increased sales and customer loyalty, enhanced productivity and quality, reduced turnover, and more rapid product and service launches. Meridian Enterprises offers a unique combination of database marketing, tracking, measurement, and performance tools that enable clients to:

--  Identify and motivate the people most likely to deliver results;
--  Profit from real-time information on performance participation; and
--  Achieve business goals with less up-front investment

For over two decades, Meridian has offered innovative programs and services, cutting-edge technology, and a choice of incentives specifically tailored to its clients' goals. Meridian services are ideally suited to organizations seeking more accountable strategies to improve sales or productivity and who need rapid results. In just a few short years, BSP Rewards has become the leading Internet-based shopping mall for affinity programs and online savings. BSP branded web malls are similarly designed to offers users up to 15% rewards added to any rewards already associated with their credit cards and up to 60% in discounts. The collaboration of the two companies will create the most technologically advanced and rewarding experience for customers and client organizations.

About MediaNet Group Technologies, Inc.:

MediaNet Group Technologies, Inc. (OTCBB: MEDG) encompasses an integrated group of operating divisions that revolve around the many aspects of technology, including branded rewards programs, web mall programs, and online media intellectual properties. Additional information on MediaNet Group Technologies can be found on the Internet at

MediaNet Group Technologies has developed unique proprietary platforms, software and solutions for every size business. The Company offers extremely affordable, simple, immediate implementation, delivered as feature rich turnkey rewards and loyalty enterprise solutions for corporations interested in expanding their web presence and enhancing customer relations -- turning operational costs into profit centers.

BSP Rewards, Inc., a wholly owned subsidiary of MediaNet Group Technologies, builds, brands, customizes and administers proprietary loyalty/rewards/mall program for each client and organization and is also a value added element layered onto debit and stored value cards. Members receive up to 15% in rewards and up to 60% in discounts when purchasing merchandise and other products from the nation's best retailers through the BSP network. Strategic relationships entered into as part of the Company's branded web mall concept includes leading retailers such as Macy's, Target, Starbucks, Blockbuster, Old Navy, Target, CompUSA, Budget Rent-a-Car and over 700 other merchants. With over 50 web malls already developed and in use, BSP Rewards currently serves nearly 1 million registered users. A typical BSP Rewards Mall may be seen at and details about the program can be viewed at

"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.

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