SOURCE: MediaNet Group Technologies, Inc.

MediaNet Group Technologies, Inc.

February 08, 2011 08:00 ET

MediaNet Group Technologies, Inc. Launches New Shopping Mall Platform in Germany

BOCA RATON, FL--(Marketwire - February 8, 2011) - MediaNet Group Technologies, Inc. (OTCBB: MEDGE) today announced it has launched its new shopping mall platform in Germany, a new market for the company's shopping mall concept.

The new shopping mall platform is based on a price comparison model and uses sophisticated Business Intelligence to create a personal shopping experience, based on historic and relevant results. This new search technology allows the Company to take advantage of changing consumer behaviors and will enable additional targeting, demographic and data mining capabilities. The shopping mall also has its own recommendation engine that captures and remembers where a consumer shops, their individual shopping preferences and recommends additional products and services from both the shopping mall and the auction to provide an all-encompassing consumer shopping experience. The shopping mall also offers a number of user features including "Price Alerts," Customer "Wish Lists" and "Auction Alerts" for related products. The German shopping mall includes only German language merchants who sell their products in Euros.

Michael Hansen, President and Chief Executive Officer of MediaNet Group stated, "Today marks an additional evolutionary step in the growth and development of MediaNet. The new shopping platform and its technology methodology will allow us to replicate into new countries around the world. Germany has been a robust market for DubLi Network and which made our decision to launch the new mall platform for our German audience simple. As we have in Germany, the new shopping mall will allow us to apply a local area focus with local merchants and currencies to our growing base of operating countries. We expect to begin the rollout of the new shopping mall platform into other key markets during our third fiscal quarter starting with the US and Canada, followed by Australia."

Mr. Hansen continued, "Offering the shopping mall in conjunction with the reverse auctions and Entertainment concepts allows consumers a one-stop-shop for all their shopping and entertainment needs. Our ability to track each user's history and experience on our sites will further our efforts to capture additional discretionary spending from not only our current base of customers but also from those new customers who are introduced to DubLi with every new day."

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 MEDGE. Additional information about the Company is available in its filing with the Securities and Exchange Commission at

MediaNet Group Technologies, Inc. has created a new framework for captivating and engaging consumers through a dynamic, value-based shopping community. The foundation of MediaNet is grounded in innovative technology, a global platform and an expertise in understanding and capitalizing on global economic trends and changing consumer behaviors. The central hub of the MediaNet Group community is from which all other components of the business model are derived.

MediaNet Group has focused a considerable amount of time and resources to advance its technologies, creating a more efficient and user friendly website and developed a customizable media player that would be used to find, organize and play all of a user's media, whether it resided on the user's computer or on the MediaNet Group database.

With both digital fingerprinting and content licenses in place, the MediaNet Group plans on developing a single destination website for everything related to online shopping and entertainment.

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 June 30, 2010.

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