SOURCE: MegaMania Interactive

April 19, 2005 08:58 ET

MegaMania Interactive Announces New FOREX Software Division

HOUSTON, TX -- (MARKET WIRE) -- April 19, 2005 -- MegaMania Interactive, Inc. (MMI) (OTC: MNIA), Today management announced the establishment of a new division to develop trading software for Foreign Exchange (FOREX) currency traders.

Throughout the first quarter of 2005, MMI has been negotiating and planning with FOREX brokers and training organizations to develop an improved platform for FOREX traders. The Foreign Exchange is where currency is traded between the world's top banks and corporations. For a size comparison, the NASDAQ trades approximately $35 billion per day while the FOREX currency market can trade as much as $2 trillion daily.

According to MMI CEO George Bogle, "Trading the FOREX Exchange is a relatively new concept; it was not until 1998 that the FOREX was opened to individual traders by U.S. brokerage houses. The number of FOREX traders globally is estimated at 12 million, a significantly small number in an industry expected to have enormous growth."

MegaMania will begin developing charting software, live commentary tools and eLearning training applications for the FOREX market. Bogle said, "The organizations we're meeting with have requested we assist them with developing new software applications to support individual traders. When we examined the industry, we realized these trading tools fit our existing business model of delivering services via the Internet on a monthly subscription basis. We've agreed to develop the software they wanted at our expense and in return the group has agreed to market our solutions to their existing client base. Entry into the FOREX market gives us a new revenue stream with opportunity to increase company value without straying from our core competencies."

More information will be provided in future releases.

About MegaMania

MegaMania maintains two development centers with programmers, graphic artists and media teams spanning most disciplines. The Company specializes in the development of advanced web-based applications for business.

"Safe Harbor" statement:

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Except for historical information, all statements, expectations and assumptions contained in the foregoing are forward-looking and involve a number of risks and uncertainties. It is possible that the assumptions made by management may not materialize.

Contact Information