Newton, MA, USA. February 1st, 2005.

MoreMagic Solutions, Inc., the global provider of content enabling, charging and payment solutions, announced today that the company successfully processed over 20 million monetized transactions for its customers in 2004. The transactions, averaging approximately U.S. $6.50 in value, represent consumer purchases and electronic top-ups over their mobile phones. The transaction volume included diverse services for over 350 content providers and aggregators of digital and physical goods and services, supported by hosted environments in the U.S. and Ireland.

"We are delighted that consumers are utilizing their mobile phones to buy movie tickets, lottery tickets, fast food, gain WLAN access, place classified ads, top-up their prepaid accounts, and access various info-tainment services," stated Pankaj Gulati, CEO of MoreMagic. "In 2004, we saw a good mix of micro- and macro-payments, and we are happy to report that content and digital services represent a robust and growing revenue stream for our customers. Mobile operators are looking beyond just selling goods and services by launching loyalty programs around their content offering, and our solution has proven to be the ideal facilitator. MoreMagic has been able to impact both the top and bottom lines for our customers through increased average revenue per user, reduced operating costs, and accelerated time to market for new services and promotions."

About MoreMagic Solutions
MoreMagic Solutions is the global provider of carrier-class, cross-platform transaction solutions for service providers in the areas of mobile, broadband, Mobile Virtual Network Operators and content. MoreMagic's product range enables dynamic pricing and payment over a wide variety of network services and applications that cover voice, internet access and digital content. The Company's transaction and payment solutions extend the reach of service providers from access to payment transaction management, allowing them to leverage added value from their existing subscriber base, billing systems, and referential information such as location data. MoreMagic is headquartered in Newton, Massachusetts, with sales offices in Florida and London, England. More information on MoreMagic Solutions and its products can be found at www.moremagic.com.