SOURCE: World Moto, Inc.

World Moto, Inc.

February 22, 2016 09:00 ET

World Moto Signs MOU for New Moto-Meter™ Distributor in Sri Lanka

Sri Lanka Represents a $100 Million Market for Moto-Meter™ sales

NEW YORK, NY--(Marketwired - Feb 22, 2016) - World Moto, Inc. (OTC: FARE) (BERLIN: WM7) (BERLIN: A1J8SY) ("World Moto" or the "Company"), a leader in advanced solutions for motorcycle taxis and on-demand transport, today announced that it has signed a memorandum of understanding for distribution of the Moto-Meter™ throughout Sri Lanka.

The MOU authorizes the Sri Lankan distributor to immediately begin marketing the Moto-Meter™ in the assigned territory as an authorized partner of World Moto, and allows him to purchase the Moto-Meter™ at a specified price, with preferred lead times for orders of initial stock. The distributor has influence on the boards of two major Sri Lankan transportation providers, VGO and Airport Express, and intends to provide an integrated, trusted solution for the entire Sri Lankan market by combining the strengths of both smartphones and the Moto-Meter™.

Sri Lanka is an island nation in the Indian Ocean, with a population of more than 21 million people and an estimated 735,000 three wheeled auto rickshaws as of 2012 (Source: Sunday Observer). Currently, approximately 40,000 of these vehicles have meters and their numbers are increasing ahead of expected government efforts to make them compulsory. The Moto-Meter™ offers unique advantages over alternatives due to its secure, anti-tampering features that reassures consumers, as well as its portability, ruggedized design, and ability to be integrated with smart phone applications and thus offer consumers a way to preferentially select trustworthy drivers equipped with the Moto-Meter™.

Paul Giles, CEO of World Moto, stated, "The Moto-Meter is a truly unique product that blends the distinct usage profiles of both meters and smartphones, and it is this unique proposition that is continuing to win praises and commitments from the companies who contact us. The opportunities we are creating today with these distribution agreements are the infrastructure that will propel the Company to record growth over the coming year."

Watch a video of the Moto-Meter™ with smartphone app at:

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About World Moto
World Moto is a technology company that designs, manufactures, markets and sells Moto-Meter products, devices that provide moto-taxi fare metering and other communication capabilities. The Company's Moto-Meter patents have been granted in 4 countries, with applications pending in another 56 jurisdictions. World Moto's products and services include the Moto-Meter™, arguably the world's first motorcycle taxi meter, Wheelies™, which display static and streaming media content on the wheels of motorcycles, and Yes™ (aka HailYes™), a smartphone app for on-demand transportation. For more information on World Moto, please visit World Moto's website at

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Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27(a) of the United States Securities Act of 1933, as amended and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, estimates of motorcycle taxi markets, release of HailYes™ apps, global ride-hailing market, growth of platform, target markets, product releases, product demand and, business strategy. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Details of the Company's business, finances, appointments and agreements can be found as part of the Company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's EDGAR database.

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