SOURCE: m-Wise, Inc.

m-Wise, Inc.

May 17, 2010 08:00 ET

m-Wise Shows Growth in Revenues in Q1 2010

NEW YORK, NY--(Marketwire - May 17, 2010) -  Mobile content service and technology vendor m-Wise (OTCBB: MWIS), today announced its consolidated financial results for the three months ended March 31, 2010.

Financial Results

Revenues for the three months ended March 31, 2010 rose to $914,519, up 15% from $792,779 in 2009. Income from customer services and technical support increased 46% to $445,857 for the three months ended March 31, 2010 from $305,591 for the same period in 2009.

Our Cash Balance grew from $165,504 as of December 31, 2009 to $274,393 as of March 31, 2010.

Full financial results for 2010 first three months are available in m-Wise 10Q filing.

Mati Broudo, Executive Chairman of m-Wise's board of directors stated: "During the first quarter of 2010 we have made a significant investment effort in the expansion of our presence in the Brazilian Market. We have expanded the team dedicated to our Brazilian operations and set our local human resources base in the country. We have strengthened our relationships with existing customers and other key players in Brazil such as mobile billing aggregators, local content providers and mobile carriers and we expect to see the results in significant growth in operation in this market towards the fourth quarter of the year and in 2011. Naturally this investment will have an impact on our balance sheet of 2010. Brazil is one of the largest and fastest growing mobile markets worldwide and this market plays a key role in our growth strategy.

In addition, we have strengthened our position in the US market which is still our main market. We have initiated a focused approached to media and content companies which we believe are ready to take advantage of the mobile space and we expect to see the results of our efforts in the coming quarters of 2010.

For the rest of calendar 2010, we plan to continue our expansion in the US and Brazilian market and we plan to make our services available to many of the global players in the mobile entertainment market and so set the foundation to our expansion to other markets in Europe and in Latin America. We also plan to become more involved in the creative and operational side of our clients business and expand our role as a technology player and use our aggregated know how and expertise to provide more solutions and services to our existing and future clients."

About m-Wise

Founded in 2000, m-Wise has rapidly established itself as a leading international provider of enabling technologies for the mobile entertainment and marketing industries, powering market leaders such as Thumbplay, Fox Mobile, Digicel and Universal Records. m-Wise is the developer of MOMA platform, the de facto content management and service delivery platform used on or through over 50 mobile networks throughout Europe, North and Latin America, and Asia.

MOMA is an integrated "one stop shop" for mobile operators, wireless ASPs, content providers, and media producers to always deliver end-users with a state-of-the-art mobile experience. MOMA makes it easy not only to manage and deliver content like entertainment, music, games, and video without specific regard to handset compatibility but also adds real-time end user capabilities like voting, mobile marketing, advertising and access to live data. Better yet, MOMA includes transactional billing, customer care, and even marketing capabilities -- all built in.

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Safe-Harbor Statement

This press release contains "forward-looking statements." These forward-looking statements use words such as "believes," "intends," "expects," "may," "will," "should," "plan," "projected," "contemplates," "anticipates" or similar statements. These statements are based on our beliefs, as well as assumptions we have used based upon information currently available to us. Because these statements reflect our current views concerning future events, these statements involve risks, uncertainties and assumptions. Actual future results may differ significantly from the results discussed in the forward-looking statements. A reader, whether investing in our common stock or not, should not place undue reliance on these forward-looking statements, which apply only as of the date of this press release.

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