SOURCE: MediaNet Group Technologies, Inc.

MediaNet Group Technologies, Inc.

June 15, 2010 08:00 ET

MediaNet Group Technologies, Inc. -- DubLi Worldwide Auction Platform to Launch June 2010

BOCA RATON, FL--(Marketwire - June 15, 2010) -  MediaNet Group Technologies, Inc. (OTCBB: MEDG) today announced the Company's plan to launch a worldwide auction platform. Through its wholly-owned subsidiary, DubLi.com, the Company's global platform will allow customers around the world to vie for top brand items. This platform, along with an Australian platform, will be launched at the end of June. By the end of June 2010, DubLi.com will host a total of four auction platforms to serve customers in North America, Europe, Australia and the remaining parts of the world. Michael Hansen, Founder of DubLi and President and CEO MediaNet Group, stated, "The global platform offers DubLi.com the ability to capitalize on the world's time zones, enabling us to sell more products. In addition, this platform allows customers to participate in the auction alongside customers on the other side of the world."

The four auction platforms will each interact with and impact the other as customers around the world will have the opportunity to contend for high end merchandise as well as unusual items and travel adventures. Mr. Hansen continued, "We are raising the expectations of customers by the items offered across our four platforms; where other companies will have to follow our lead in order to stay competitive." Combined, these platforms are going to showcase an impressive inventory of a variety of auction items.

About MediaNet Group Technologies, Inc.:

MediaNet Group Technologies, Inc. is a publicly held company and trades on the over the counter bulletin board ("OTCBB") under the symbol MEDG. Additional information about the Company is available in its filing with the Securities and Exchange Commission at www.sec.gov

MediaNet Group Technologies, Inc. is a global marketing company that sells high end branded merchandise to consumers through Internet-based auctions conducted under the trade name "DubLi.com." As of March 31, 2010, our online auctions were conducted in Europe, North America, Australia and New Zealand and we had a large network of independent business associates that sold "credits," or the right to make a bid in one of our auctions. These auctions are designed to offer consumers real savings on these high end goods. The Company, through its BSP Rewards subsidiary, also offers private branded loyalty and reward web malls where members receive rebates (rewards) on products and services from participating merchants. 

Except for historical matters contained herein, statements made in this press release are forward-looking. Without limiting the generality of the foregoing, words such as "may," "will," "to," "plan," "expect," "believe," "anticipate," "intend," "could," "would," "estimate," or "continue" or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements.

Investors and others are cautioned that a variety of factors, including certain risks, may affect our business and cause actual results to differ materially from those set forth in the forward-looking statements. These risk factors include, without limitation, the risk of (i) an inability to establish and/or maintain a large, growing base of business associates; (ii) an inability to develop and/or maintain brand awareness for our online auctions; (iii) a failure to maintain the competitive bidding environment for our online auctions; (iv) a failure to adapt to technological change; and (v) a failure to improve our internal controls. The Company is also subject to the risks and uncertainties described in its filings with the Securities and Exchange Commission, including its Quarterly Report on Form 10-Q for the quarter ended March 31, 2010.

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