SOURCE: Santeon Group, Inc.

December 29, 2010 11:15 ET

Santeon Signs Memorandum of Understanding With Media Investment Group for Partial Acquisition of Santeon Media Assets

RESTON, VA--(Marketwire - December 29, 2010) - Santeon Group, Inc. ("Santeon" or "Company") (OTCBB: SANT) today announced that it has signed a Memorandum of Understanding (MOU) with a privately-held Media Investment Group (the "MIG") based in Los Angeles, California, for the sale of a majority interest in Santeon Media assets currently held in Santeon's wholly owned subsidiaries (the "Transaction"). The terms of the Transaction provide for Santeon to receive up to one million dollars ($1,000,000) over the next twelve (12) months, while continuing to maintain a small equity position in its Media subsidiary. Santeon will continue to provide the technology platform to the MIG in support of their media projects. Santeon will also continue to grow the Media subsidiary through projects such as UBFILM, a media Talent Discovery Network Portal in partnership with some of the leading talent management groups, which is expected to be launched by the end of the year, as well as revamp and extend its original live streaming portal.

Santeon and MIG expect to close the Transaction in early January 2011. The MIG has indicated to us that it has signed additional Media projects to launch this new partnership that will be jointly announced in the very near term after the closing of the Transaction.

The Santeon board of directors is scheduled to meet after the closing of the Transaction to discuss the growth of the Company, as well as a potential stock buy-back program. The company currently has no significant debts and plans to use the proceeds from the Transaction for building value and accelerating the growth of the other divisions to meet expanding market needs in Healthcare, Energy/Environment and Agile Software Development.

"We believe that this Transaction provides significant opportunities for Santeon and its new Media partner. The Transaction will give the Company capital infusion over the next year to assist the Company in its expansion and address the growing market demands, as well as drive new media projects and revenue to the Company," commented Dr. Ash Rofail.

"We believe that our shares are undervalued and that this Transaction is a positive step towards increasing our share value," continued Dr. Rofail.

As previously announced, the Company will be holding a special shareholders meeting on Wednesday December 29nd, 2010, at 4PM Easter Standard Time (EST) to discuss our plans and strategy for 2011, as well as provide an opportunity for all its shareholders to participate and ask questions. The meeting will outline the direction that the company has chartered; discuss in detail the current business opportunities available to the Company and the Company plans for each of its subsidiary divisions.

To register for the meeting please go to the following link and follow the simple instructions.

About Santeon Group, Inc.
Santeon Group is a technology company Headquartered in Northern Virginia with offices strategically located in San Diego, Los Angeles, London, Cairo and Dubai. Santeon offers products and services in Healthcare, Energy, Media and Agile Development. Santeon Group's goal is to serve emerging markets by providing technically superior products and solutions while reducing the cost of ownership and deployment of these solutions through a strong channel partner and distribution model. For more information please visit the web site at

Safe Harbor Statement
This press release contains statements that may constitute forward-looking statements. These statements are based on current expectations and assumptions and involve a number of uncertainties and risks that could cause actual results to differ materially from those currently expected. For additional information about SANT's future business and financial results, refer to SANT's Annual Report on Form 10-K and Form 10-Q. SANT undertakes no obligation to update any forward-looking statements that may be made from time to time by or on behalf of the company, whether as a result of new information, future events or otherwise.

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