C$ cMoney, Inc., a Houston-based company at the forefront of mobile phone-based payment and money transfer technologies, has announced the promotion of William Watson, formerly chief operating officer, to chief executive officer. In addition, Adam A. Boris has been named to the position of chief operating officer and John J. Shin has been hired to serve as the chief investment officer and senior vice president of corporate development. Dr. Larry Wilson, former cMoney board director, has been appointed as chairman of the board. Jennifer Pharris, interim CEO and former chairman, had stepped into the roles while assembling the executive team and will continue as founder and shareholder.

“William’s appointment to CEO was a natural choice. His experience with launching innovative mobile technologies and leading organizations through tremendous growth is a clear match with cMoney,” said Jennifer Pharris, founder of C$ cMoney, Inc. “In his short tenure as COO, he has demonstrated a deep understanding of the mobile technology industry and I am confident that as CEO, William will assist in positioning cMoney as a leader in the global mobile payments space.”

As the chief executive officer, Watson will oversee the strategic direction of cMoney, work in tandem with the board of directors and act as the official corporate spokesperson. Watson is a seasoned executive with 20 years of experience providing executive management and leadership to public and private telecommunications and mobile technology companies.

“I look forward to my new role with the company and working with a strong leadership team that now includes Adam and John, and I welcome the appointment of our chairman Dr. Larry Wilson,” Watson said. “This team of executives, with a proven record of success, is excited about the potential growth of the company.”

In his capacity as chief operating officer, Boris, former interim COO at TLeMAZ, will oversee the everyday operations and functions of cMoney, resolving any issues that may arise and ensuring the system-wide implementation of the company’s policies and procedures. With almost 30 years of experience in the mobile technology industry with such companies as Motorola, Inc., Ameritech and DBS Communications, Boris brings strong expertise in launching innovative technologies and services.

As the chief investment officer and senior vice president for corporate development, Shin is tasked with managing and monitoring investment activity, and will be working with external analysts, maintaining good investor relations, securing financing and establishing relationships with strategic business partners. Shin is a former venture capitalist and investment banker with success in funding, building and exiting multi-stage enterprises

About C$ cMoney, Inc.

C$ cMoney, Inc. (CMEY.PK) is a Houston-based technology company that has developed a new and innovative way to send money and pay for goods and services using a mobile phone and the text messaging system. Scheduled to launch in 2011, the pioneering technology will create a “virtual wallet” that will eliminate exposure to identity and credit card theft for users. It can be used anywhere that cash, checks or credit cards are accepted. For more information, visit www.cMoney.com.

Forward-Looking Statements

Certain statements in this press release may constitute "forward-looking statements" such as the scheduled launch date of the Company’s product. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: risks related to the integration of acquisitions and the ability to market successfully acquired technologies and products; the ability of the Company to effectively compete; the timing and effectiveness of the planned launch of the new C$ cMoney product; the need to raise additional capital to fund existing operations and the planned product launch, the need to secure third party contracts, the inability to adequately protect Company intellectual property and the potential for infringement or breach of license claims of or relating to third party intellectual property; risks related to data and information security vulnerabilities; ineffective management of, and control over, the Company's growth; adverse results in litigation; and changes in and a dependence on key personnel, as well as other factors contained in our most recent Annual Report on Form 10-K (copies of which may be accessed through the Securities and Exchange Commission's website at http://www.sec.gov), including those found therein under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations". In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release.

cMoney (CE) (USOTC:CMEY)
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