SOURCE: MediaNet Group Technologies, Inc.

September 17, 2008 08:00 ET

MediaNet Group's BSP Rewards Selected to Build Private Branded Mall for PaycardUSA

MARGATE, FL--(Marketwire - September 17, 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 PaycardUSA. PaycardUSA is a leading provider of Payroll Cards designed to reduce or eliminate many of the costs associated with managing a traditional check-based payroll and to empower its un-banked customers to have fast, flexible and inexpensive access to their pay through prepaid cards.

BSP will develop a private branded web mall for PaycardUSA to extend to its card holder base as a value-added benefit that will be layered on to the Company's payroll cards. PaycardUSA saves employees from having to pay significant fees associated with cashing a payroll check at a location other than a bank. The card is a Prepaid MasterCard® and requires no credit application or checking account. PaycardUSA benefits employees and companies and is easy to implement.

The new mall will offer PaycardUSA card holders an opportunity to shop online at over 750 national merchants, earning cash value reward rebates. Of particular interest is the fact that the rewards can be loaded onto their PaycardUSA Prepaid MasterCard and used back in the mall or wherever MasterCard debit cards are accepted -- millions of locations worldwide.

Martin Berns, Chief Executive Officer of MediaNet Group said, "We are excited to add PaycardUSA to our list of new clients, particularly as it demonstrates how the marketplace is demanding rewards and incentives on debit and payroll cards. Being selected by PaycardUSA is indicative of trends not only in the under-banked marketplace but also by savvy financial services firms who are looking to enhance the value proposition to card holders. We look forward to working with the PaycardUSA team in adding value to their card holders and providing a benefit beyond the industry standard."

Ileah Phillips, Vice President of Business Development of PaycardUSA, stated, "Our motto at PaycardUSA is to bring unparalleled products to the marketplace that are mutually beneficial to our clients and cardholders. The BSP Rewards program is a perfect example of the type of benefits we strive to offer. We were particularly attracted to the flexibility of the BSP's Rewards solutions and the ability to offer an integrated, seamless program that is cost-effective and turnkey. The un-banked market segment is typically underestimated in terms of their ability and willingness to spend. We believe the rewards mall provides them an opportunity to make everyday purchases with added value and benefits."

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 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 PaycardUSA:

Bringing together over 30 years payroll experience and more than 15 years prepaid card industry experience, PaycardUSA is centered around meeting client needs as well as those of client employees to ensure a user-friendly, financially beneficial experience with the program and card.

When it comes to new ways to use prepaid cards, the possibilities are endless. Payroll cards are far from all that PaycardUSA offers. In line with the same advantages that a paperless payment system can bring to payroll, PaycardUSA offers and develops programs for Bonus & Commission Payments, Corporate Travel, Relocation & Expenses, Vendor Payments, Corporate Gift Cards, Employee Incentives, Customer Rebates & Loyalty, Cause-Related Fundraisers, and Teen/Family Cards. PaycardUSA consistently strives to be the best provider of prepaid payment solutions.

PaycardUSA is a registered Member Service Provider of Palm Desert National Bank. The PaycardUSA Prepaid MasterCard is issued by Palm Desert National Bank pursuant to a license from MasterCard International Incorporated. MasterCard is the registered trademark of MasterCard International Incorporated.

"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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