MobiVentures Provides Fiscal First Quarter 2008 and Calendar Year 2007 Business Update

  
    
  
  
    
      MobiVentures Inc. (OTCBB: MBLV), an international provider of 
      high quality mobile applications, content and services, today provided 
      an update on business operations for the fiscal first quarter ended 
      December 31, 2007 and calendar year 2007.
    
    
      Nigel Nicholas, chief executive officer of MobiVentures, commented, “In 
      the past year, we have come a long way as an international provider of 
      multi-media content, mobile games and messaging-based mobile marketing. 
      The market for mobile marketing and advertising will grow from $3 
      billion in 2007 to $19 billion by 2011, an increase of 533% according to 
      ABI Research and mobile media content is expected to grow from an 
      estimated $4.2 billion in 2006 to $9.5 billion by 2011, according to 
      Juniper Research. We have spent the last twelve months positioning the 
      company to capitalize on this opportunity. In that time, MobiVentures 
      has been successful in developing a global network of over 150 strategic 
      partners, consisting of global mobile carriers, service providers and 
      content distributors, which in turn provides us a sustainable 
      competitive advantage.”
    
    
      Mr. Nicholas continued, “Given the rapidly 
      growing, yet highly fragmented nature of the market for mobile content, 
      services and applications, our plan has been to grow through the 
      strategic consolidation of fast growing companies within this market, 
      with whom we can leverage our strong content development and 
      distribution capabilities. In this way, we plan to create a 
      one-stop-solution combining mobile content, mobile media and marketing, 
      mobile portals and social networking. In line with this strategy, we 
      acquired Tracebit, a Finnish mobile games and content company, in 
      February 2007. To date, Tracebit has developed more than 30 original 
      games and applications for mobile phones. Demand for mobile content, 
      services and applications is being driven by a growing number of 
      cellular subscribers around the world, especially in emerging markets. 
      This phenomenon has enabled us to get off to a fast start in Europe and 
      we recently expanded into Asia, Africa and North America. Our growth 
      strategy includes geographic expansion, additional product offerings, 
      and strategic acquisitions in this highly fragmented market.”
    
    
      “In October 2007, we entered into partnership 
      agreements with Froggie S.L., a provider of mobile telephony marketing 
      systems with operations in Argentina and Spain, and Move2Mobile, the UK’s 
      foremost wireless incubator. These partnership agreements follow the 
      signing of letters of intent to acquire both companies. With the 
      acquisition of Tracebit, we have already demonstrated our ability to 
      acquire and integrate complementary and profitable businesses, and our 
      first priority in 2008 is to consummate these two pending acquisitions 
      along with additional acquisitions that have already been identified as 
      the year progresses.”
    
    
      Mr. Nicholas concluded, “Over the course of 
      2008 and beyond, we plan to leverage the content, distribution and back 
      office synergies of the acquired companies, while creating additional 
      product offerings to channel through our extensive global distribution 
      network. Offerings will include mobile music services, new games and 
      infotainment, such as mobile sport, leisure and information data 
      sources. We also plan to initiate online and mobile marketing campaigns 
      through affiliate marketing agencies and pay per click campaigns and we 
      will utilize online search engines to increase traffic to the portal. 
      These are exciting times at MobiVentures and we are confident that our 
      talented team of leading industry executives will continue to achieve 
      important milestones as we move forward with our strategic plans.”
    
    
      About MobiVentures
    
    
      MobiVentures Inc. is an established provider of leading edge multi-media 
      mobile content and services, with clients across the UK, Europe, Asia 
      and North America. MobiVentures acquires and consolidates growing 
      companies that operate within the mobile content and service industry. 
      Through the combined scale and resources, MobiVentures seeks to 
      accelerate growth and time to market for its portfolio companies and 
      their respective products, which stand to immediately benefit from the 
      company’s broad content array, international 
      distribution channels and strategic alliances.
    
    
      Statements about MobiVentures’ future 
      expectations and all other statements in this press release other than 
      historical facts are "forward-looking statements" within the meaning of 
      section 27A of the Securities Act of 1933, Section 21E of the Securities 
      Exchange Act of 1934, and as the term is defined in the Private 
      Litigation Reform Act of 1995. MobiVentures’ 
      actual results could differ materially from expected results. 
      MobiVentures undertakes no obligation to update forward-looking 
      statements to reflect subsequently occurring events or circumstances.