SOURCE: MediaNet Group Technologies Inc.

October 30, 2006 08:00 ET

BSP Rewards Signs National Agreement With Prepaid Solutions

Prepaid Solutions to Add the BSP National Value Card Rewards Mall Program to Prepaid Cards

MARGATE, FL -- (MARKET WIRE) -- October 30, 2006 -- BSP Rewards, the primary operating subsidiary of MediaNet Group Technologies (OTCBB: MEDG), announced today that they have reached an agreement with Prepaid Solutions USA, a service of West Suburban Bank, to layer a private branded rewards mall onto various prepaid and stored value cards issued by them.

"The BSP National Value Card Mall platform offers us the vehicle to add a value added program to our cards that is unique to the industry. Our private branded rewards mall will allow our cardholders the opportunity of earning up to 15% rewards when they purchase from nearly 600 of the nation's best known participating online and offline merchants. Prepaid Solutions USA aggressively seeks unique value added benefits for our cardholders and the BSP Value Card Mall program will be a fantastic way to help our cardholders realize greater than face value from our cards," noted Daniel P. Grotto, president of Prepaid Solutions USA.

"Prepaid Solutions USA at West Suburban Bank has been a leader in the prepaid market for years, and BSP is exceedingly proud to have formed this strategic partnership. We look forward to providing this unique program to them, their customers and their cardholders," stated Martin Berns, CEO of BSP Rewards.

BSP Rewards builds, brands, customizes and administers their 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.

The Prepaid Solutions Rewards Mall is expected to launch in mid-November and details about the National Value Card program can be viewed at

Prepaid Solutions USA is a service of West Suburban Bank in Chicago and a major provider of open network and private label prepaid card products. They are made up a group of market and financial specialists who consult, develop programs and provide turnkey solutions to a variety of major clients.

BSP Rewards, Inc. is a wholly owned subsidiary of MediaNet Group Technologies is a publicly held Company (OTCBB: MEDG) that encompasses an integrated group of operating divisions that revolve around the many aspects of technology including, branded rewards programs, web portal programs, and intellectual properties.

Legal Notice Regarding Forward-Looking Statements: "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.

Contact Information