SOURCE: MediaNet Group Technologies, Inc.

July 08, 2008 08:00 ET

MediaNet Group's BSP Rewards Expands Its National Mall Into Local Markets With My Community Rewards

MARGATE, FL--(Marketwire - July 8, 2008) - MediaNet Group Technologies, Inc. (OTCBB: MEDG), the largest online mall and affinity program platform through its BSP Rewards subsidiary, today announced that it has been selected to build a private branded web mall for My Community Rewards. Using its MYCR Rewards Cards as the conduit, My Community Rewards has created local community programs throughout the country, where daily consumer purchases are turned into continuous fundraising opportunities for schools, churches and non-profit organizations. In addition, My Community Rewards allows consumers to earn money for college, retirement, travel or shopping, and provides participating businesses with a loyal supportive clientele.

BSP will develop a private branded web mall for My Community Rewards to use in conjunction with its MYCR Rewards Cards to extend to its member base as an additional fundraising alternative. The new mall will offer MYCR members an opportunity to shop online at over 750 national merchants, earning rebates, discounts and cash value rewards for themselves while generating continuous donations for the charities of their choice.

In keeping with My Community Rewards' mission, the BSP program will allow for all MYCR cardholders to participate in fundraising activities through their everyday purchases. The BSP program provides an additional vehicle for continuity, customer loyalty, retention and acquisition opportunities to My Community Rewards' existing member base as well as a value-added benefit to potential new cardholders.

Martin Berns, chief executive officer of MediaNet Group, said, "My Community Rewards has created a unique and innovative local community program whereby cardholders generate rewards and donations by showing their MYCR card. Offering them a mall of 750 national merchants in conjunction with the local partners and merchants is a win-win situation for all. Offering a larger number of merchants coupled with the ability to shop and redeem at the local level provides a comprehensive offering unparalleled to any other. We look forward to working with the My Community Rewards' partners and teams in developing this opportunity even further."

Cachi Trejo, president and chief executive officer of My Community Rewards, stated, "We are excited about adding BSP's vast national merchant network to our extensive local merchant base. BSP's program allows us to enhance our community and fundraising opportunities through a new yet correlated shopping medium. We were particularly attracted to the flexibility of the BSP's rewards solutions and the ability to offer our members an easy and automatic means for earning rewards and supporting local businesses and charities."

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, and 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 750 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 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 My Community Rewards:

My Community Rewards is a Temecula, California-based company that has created a unique, state-of-the-art community rewards program through its proprietary MYCR Rewards card product. The Company's mission is to create local community programs throughout the country, where daily consumer purchases can turn into continuous fundraising opportunities for schools, churches, and non-profit organizations, as well as a way for consumers to earn money for college, retirement, travel or shopping, and provide participating businesses with a loyal supportive clientele.

"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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