SOURCE: Socialwise, Inc.

Socialwise, Inc.

August 30, 2010 09:27 ET

Socialwise, Inc.'s BillMyParents® Named Official Currency Partner of Street League Skateboarding Events

SAN DIEGO, CA--(Marketwire - August 30, 2010) - Socialwise, Inc. (OTCBB: SCLW), the parent company of online teen payment solutions brand BillMyParents®, has just partnered with the Street League Skateboarding DC Pro Tour as the official currency sponsor for its three inaugural events being held in Glendale, AZ, Ontario, CA, and Las Vegas, NV, in August and September. A branded consumer booth will be onsite at each location to educate visitors about the BillMyParents® payment solutions as well as sign up participants to enter to win a $10,000 grand prize from BillMyParents® for the Street League Fantasy Skateboarding game. This partnership, along with key retailer promotions and athlete marketing initiatives continuing to roll out in the next month, reinforces the company's dedication to being relevant to tweens and teens and their interests.

Founded by BillMyParents® sponsored athlete and MTV celebrity Rob Dyrdek, Street League Skateboarding celebrates the progression, individuality and technicality of street skateboarding by bringing competition courses that truly reflect the characteristics of real skate spots to viewers in major sporting arenas. An elite group of skateboarders have been signed to compete for a total prize purse of $1.2 MM, which is the most prize money offered in skateboarding history. Besides boasting the largest-ever first place prize of $150,000, 2nd and 3rd place winners will earn $80,000 and $25,000 respectively, while 9th - 24th place skaters are guaranteed $5,000. Top skaters include BillMyParents® pro Ryan Sheckler as well as Paul Rodriguez, Geoff Rowley, Eric Koston, PJ Ladd and Chris Cole. The events, taking place on August 28 in Glendale, AZ, September 11 in Ontario, CA, and September 25 in Las Vegas, NV, will also be aired on ESPN2 on Wednesday nights beginning September 15.

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About Socialwise, Inc.
Socialwise, Inc. (OTCBB: SCLW) is headquartered in San Diego, CA. For more information:

About BillMyParents®
BillMyParents® provides payment solutions targeted to young people between the ages of 8 and 21. Our Supervised Shopping™ solution facilitates communication between parents and young people and helps to teach financial responsibility. For more information:

Certain statements contained in this press release are "forward-looking statements" within the meaning of federal securities laws, including, without limitation, anything relating or referring to future financial results and planned business activities. Such statements are inherently subject to risks and uncertainties, which include, without limitation, those in Company reports filed with the SEC. The Company can give no assurance that such expectations will prove correct. Future events and actual results could differ materially from those statements.