MobiVentures Buys Move2Mobile

LONDON -- MobiVentures Inc.'s (OTC BB:MBLV.OB - News) strategy of acquiring synergistic and innovative mobile technology companies has taken another big step forward by having agreed terms to acquire 100% of Move2Mobile, UK's foremost Wireless Business Incubator and Accelerator. Established in mid-2002, Move2Mobile provide services to a range of businesses from start-up entrepreneurs through to established companies wishing to accelerate & grow their business within the mobile industry.

With its headquarters in Wiltshire, England and with offices in London, the USA and Australia, Move2Mobile has an extensive network of young mobile companies that will provide MobiVentures with an Academy of mobile technology companies, a breeding ground in which the very best innovative and inventive mobile technologies will be incubated and made available for distribution through the ever increasing international sales and distribution channels of MobiVentures.

As part of the acquisition, Nigel Nicholas (CEO), will be appointed as the full time Director of Operations with MobiVentures, building upon his recent involvement as Non Executive Director. Nigel will use his years of experience in working with an array of young companies through to internationally established businesses in the IT and Mobile industries. His knowledge of the mobile industry will add momentum to the ongoing acquisitions and growth of our international sales and distribution. Gordon Anderson will take over as CEO of Move2Mobile.

M2M operates two distinct units: a consulting arm and a venture management operation. Revenues for the year to end of October 2006 are in excess of $600,000. The revenue figures exclude the shareholdings acquired by Move2Mobile through "sweat equity." M2M aims to work at a break-even profitability as it invests any profits through "sweat equity" in the companies it provides services to. The value on the shareholdings held by M2M can be estimated at between $600K - $1 million. In 2007, M2M has focused on increasing equity holdings through providing services in exchange for "sweat equity" and now has investments in 12 young companies. As a result, the forecast revenues for 2007 are expected to be $300K and has increased the estimated shareholdings value to $1 - $1.5 million in its incubate companies. A number of the companies in its share portfolio are early stage companies in the mobile entertainment and application part of mobile which fit closely with the portfolio of companies being acquired by MobiVentures.

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