SOURCE: MediaNet Group Technologies, Inc.

MediaNet Group Technologies, Inc.

August 26, 2009 08:00 ET

MediaNet Group's BSP Rewards Adds New Network Marketing Client to Its Growing Roster

To Build Private Branded Reward Malls for myEcon, Inc.

MARGATE, FL--(Marketwire - August 26, 2009) - MediaNet Group Technologies, Inc. (OTCBB: MEDG), operating the largest online mall and affinity program platform through its BSP Rewards subsidiary, today announced that it has further expanded its footprint within the network marketing channel with the development of a private-branded rewards mall program for myEcon, Inc.

myEcon provides a simple, powerful, cost effective solution that has helped thousands of people increase their cash flow and assets through business income, tax savings, debt elimination, investments and financial strategies. myEcon is a five-year-old, debt free multimillion dollar company based in Atlanta, GA. The company was founded by veteran entrepreneurs with extensive backgrounds in finance and marketing. myEcon's growth and stability in the marketplace is based on its 20,000 plus independent associates.

Martin Berns, Chief Executive Officer of BSP Rewards, stated, "Network Marketing has been a productive channel for BSP and we are pleased to add myEcon to our growing list of successful network marketing clients. We are excited about partnering with myEcon in their efforts to create a new focus area within the network marketing business."

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 1,000 participating mall merchants including the nation's largest retailers as well as gift cards and a large discount catalog. With over 60 web malls already developed and in use, BSP Rewards currently serves more than 750,000 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. Current mall merchants include Sears, Target, Macy's, Home Depot, Office Depot, Bass Pro Shops, Best Buy, Budget and Chili's.

"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.

Contact Information