BOSTON, MASSACHUSETTS — September 27, 2004 — MoreMagic Solutions, premier provider of mobile payment solutions, announced today changes in its management team. Pankaj Gulati, Executive VP in the company since 2001, has now been appointed as the President and CEO of the company. The new management team has Bryan Hartley leading the sales, Shyam Chittajallu leading the R&D and Michael LaRose leading the Finance. "The new management team is well on its way to multi-fold growth in revenues and customer base" the company announced.

In addition, MoreMagic has launched a new website www.moremagic.com. "MoreMagic's strong platform offering is unique in the industry in the number of applications that our customers have integrated with our platform and the ease with which new, creative charging and payment services have been implemented", says Pankaj. "Our solutions are applicable to core voice telephony, data services, banking and premium content services. We are handling over several million premium transactions every month ranging from 2 Euros to 50 Euros. MoreMagic's solutions are available, worldwide, as software license products as well as fully hosted service bureau".

"The compliance with the Simpay specifications gives our customers and partners another option in mobile payments and clearly demonstrates MoreMagic's openness in complying with industry standards and technologies. Our customers can look to us for providing both micro-payments and macro-payments off the same platform" says Pankaj Gulati, President and CEO of MoreMagic.

About MoreMagic Solutions
MoreMagic Solutions is the market leader in carrier-class cross-platform transaction solutions for mobile service providers. MoreMagic's product range enables dynamic pricing and payment of a wide variety of network services and applications over all 2G, 2.5G, and 3G networks. The company's transaction and payment solutions extend the reach of service providers from access to payment transaction management, allowing service providers to leverage added value from their existing subscriber base, billing systems and referential information such as location data. MoreMagic is headquartered in Newton, Massachusetts. More information on MoreMagic Solutions and its products can be found at www.moremagic.com.

Press Contact:
MoreMagic Solutions
(617) 244 1598
press@moremagic.com