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Three Month Transaction Volume was $1,689,000 Compared To $852,000 in First Quarter 2006
MARGATE, FL – 4/5/07 -- BSP Rewards, the primary operating subsidiary of MediaNet Group Technologies (OTCBB: MEDG), announced today that the company has processed $1,689,000of participating merchant transactions through its on-line mall platform in the first quarter of 2007, ended March 31,2007. The 3 month total reflects an increase of 98% as compared to the same period in 2006.
“BSP Rewards continues it rapid pace of expansion in markets, merchants, individual memberships, and the revenue and transactions generated through the platform.” said Mr. Martin Berns, Chief Executive Officer of MediaNet Group. “We signed agreements and began to launch branded reward platforms for new clients in an expanding number of markets. New client malls include Accent Windows (manufacturer and retailer), Biz Buzz (business opportunity), United Service Association (Health Care), My World +, EZ Wealth by Design, Mission Prosperity (network marketing), STORD Systems (debit card issuer), and Champion Kia (automobile dealer). Although initial revenue generated is nominal, the continuing growth in memberships, clients, over 600 participating merchants and transaction volume reflect both the acceptance of our platform and continuing validation of our business model.” Details about the program can be viewed at www.bsprewards.com
Mr. Berns also announced that MediaNet signed agreements in 2 other divisions. Cruise Jungle became the first client to contract for the company’s proprietary photo based community platform which will become an integral segment of their new travel site. Additionally, Memory Lane Syndication signed a licensing agreement with Digital Music Group, Inc. giving DMGI the exclusive right to digitally distribute the companies Howdy Doody and Songs From The Neighborhood intellectual properties.
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