Newton, MA, USA. June 29th, 2005.

MoreMagic Solutions, Inc., the global provider of content enabling, charging and payment solutions, today announced it has closed its Series D round of equity financing in the amount of $4.125 million. The additional financing brings MoreMagic's total funding to date to $22.8 million.

The internal round had participation from current investors including Battery Ventures, Vision Capital, and Liberty Mutual.

"We plan to utilize much of this investment for targeted expansion of our sales and support channels," commented Pankaj Gulati, MoreMagic's CEO. "Recent increases in our international customer base have warranted a higher level of resource concentration outside of the U.S. We remain committed to providing our customers with rapid, painless deployment and dedicated customer care."

The investment follows MoreMagic's recent disclosure of five new product licensing contracts in early 2005.

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.

Contact:
MoreMagic Solutions
Pankaj Gulati
(617) 244 1598
contact@moremagic.com