SOURCE: MediaNet Group Technologies, Inc.

March 12, 2008 08:00 ET

MediaNet Group Technologies' BSP Rewards Division Selected by Arrowhead Credit Union

MARGATE, FL--(Marketwire - March 12, 2008) - MediaNet Group Technologies, Inc. (OTCBB: MEDG), the largest online mall and affinity program platform through its BSP Rewards subsidiary, today announced an agreement to build a private branded rewards mall for Arrowhead Credit Union, a Southern California-based financial service provider with 27 locations.

Arrowhead Credit Union is committed to serving its members' financial needs by providing the ultimate banking convenience, excellent member service, convenient branch locations, competitive savings and loan programs and much more. Arrowhead Credit Union offers its members convenient 24-hour access to accounts, loan approvals online in seconds, and online banking services, each of which are available when convenient for members.

Larry R. Sharp, President and Chief Executive Officer of Arrowhead Credit Union, stated, "When considering building a loyalty and reward program for our members, we really did our homework and BSP Rewards was our top choice. We performed a 90-day test and BSP passed with flying colors. In addition to the numerous benefits offered by BSP's over 700 merchants and 8,500 restaurants, it proved to be an efficient and effective approach to bringing value-added services to our members."

"Partnering with Arrowhead Credit Union is another opportunity for BSP to demonstrate the viability of our business plan," said Martin Berns, Chief Executive Officer of MediaNet Group Technologies, Inc. Mr. Berns continued, "Arrowhead is a leader in innovation and we are extremely proud of having the opportunity to be working with them. As Arrowhead strives to provide quality financial service to the community sphere, we are fortunate to assist them in serving their members' and employees' best interests, by providing our mall platform as a value added benefit. We are pleased to be realizing the advantages of our partnership with Affinity Systems Network."

About MediaNet Group Technologies, Inc.:

MediaNet Group Technologies, Inc. (OTCBB: MEDG), through its BSP Rewards division, has developed the largest online mall and affinity program platform. BSP builds, brands, customizes proprietary loyalty/rewards/mall programs for clients and organizations and for a value added element layered onto debit and stored value cards. Companies and organizations enroll their members into the program and BSP cross-markets them to its entire database.

The Company generates product purchases from over 700 participating mall merchants including the nation's largest retailers as well as gift cards and a large discount catalog. With over 50 web malls already developed and in use, BSP Rewards currently serves more than 500,000 registered users. The Company offers affordable, immediate implementation, delivered as rich turnkey enterprise solutions for corporations interested in expanding their web presence and enhancing customer relations -- turning operational costs into profit centers.

About Arrowhead Credit Union:

Arrowhead Credit Union was established in 1949 and serves more than 162,000 members in the Inland Empire region of Southern California with over $1.1 billion in assets and 27 branch locations.

"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. The number of BSP web mall members is routinely revised to reflect adjustments for inactive membership. Inactive members are defined as registered members who have not shopped in a BSP web mall for an extended period of time.

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