Arranges Financing of $2 Million to Fund Acquisition LONDON and NEW YORK, April 8, 2008 /PRNewswire-FirstCall/ -- MobiVentures Inc. (OTC:MBLV) (BULLETIN BOARD: MBLV) , an international provider of high quality mobile applications, content and services today announced that it has entered into a definitive agreement to acquire Purepromoter Limited ("Pure"), a U.K.-based global provider of e-mail and SMS marketing solutions in 40 countries, for $7.8 million. The acquisition is expected to close by the end of April. Pure, founded in 2002, provides powerful, low cost e-mail, multimedia messaging (MMS) and text messaging (SMS) marketing campaigns to businesses and agencies, including clients such as Emap, The FT, Economist Conferences, Littlewoods, ultimatepoker.com and innocent drinks. Through its agency channel, Pure works with companies including Halifax, Barclaycard, Levis Europe, Pepsi, O2, Red Bull and Starbucks. The company had revenues of $2.8 million for the fiscal year ended March 31, 2007, which is expected to exceed $4.1 million for the year ended March 31, 2008, a year-over-year increase of approximately 50%. These revenues are up from $1.1 million in fiscal 2006 and $430,000 in fiscal 2005. The operating income at fiscal year-end 2007 was $670,000 and is expected to exceed $1.1 million for the year ended March 31, 2008. In connection with the acquisition of Pure, MobiVentures has arranged $2 million in financing from Trafalgar Capital Specialized Investment Fund in the form of convertible debentures to fund the acquisition. Nigel Nicholas, chief executive officer of MobiVentures, commented, "Pure has done a great job of penetrating the global market with a variety of electronic marketing solutions, and its growing customer base, which now totals approximately 700 businesses of all sizes, is evidence of the quality service it provides. The number of mobile subscribers is growing significantly around the world through innovation in the creation and delivery of content on mobile devices. Pure takes the process one step further in email messaging by measuring results, an extremely valuable program component for clients who need to assess the effectiveness of dollars spent on their marketing campaigns." Mr. Nicholas continued, "The acquisition of Pure has a number of important advantages, including its recurring revenue stream, augmentation of our distribution capabilities, a talented and experienced staff and significant cross-selling opportunities of turnkey marketing solutions. MobiVentures plans to leverage Pure's customer base to sell and market our mobile applications, while Pure will benefit by offering its existing and new customers a broader suite of services available through our earlier acquisition of Move2Mobile. Our goal is to accelerate our profitability through our expanded distribution, product and service offerings. We expect the combined companies to continue to generate positive cash flow by achieving strong operating leverage in the combined businesses." Stuart Hobbs, Managing Director for Pure, stated, "MobiVentures has been very successful in creating industry leading mobile marketing applications and multi-media content as well as establishing relationships with over 150 worldwide distributors. A large portion of our current sales are derived from email messaging campaigns, providing us an ideal customer base to leverage MobiVentures' expansive suite of mobile marketing applications. Although mobile marketing campaigns are still in the early growth phase, the leaders of tomorrow will be those that recognize this opportunity and capitalize on it. By combining forces with MobiVentures, and gaining access to their expansive distribution channels, MobiVentures is very well positioned to become one of those pioneer companies." Mr. Nicholas concluded, "We had previously announced the signing of a definitive agreement to acquire Move2Mobile, the UK's foremost wireless business incubator and accelerator, and we are pleased to report that we have completed the transaction. Our goal now is to rapidly and seamlessly complete the integration of Pure and benefit from the immediate synergies of our combined companies. We look forward to aggressively pursuing similarly accretive and complementary acquisitions over the next 12-18 months." Further terms of the Pure acquisition, additional information regarding Move2Mobile and the terms of the debentures are outlined in the Form 8-K filed on April 4, 2008. About MobiVentures MobiVentures Inc. is an established provider of leading edge multi-media mobile content and services, with clients across the UK, Europe, Asia and North America. MobiVentures acquires and consolidates growing companies that operate within the mobile content and service industry. Through the combined scale and resources, MobiVentures seeks to accelerate growth and time to market for its portfolio companies and their respective products, which stand to immediately benefit from the company's broad content array, international distribution channels and strategic alliances. About Purepromoter Limited Pure offers a complete and flexible software solution to add power to email marketing and SMS advertising: PureResponse. Pure helps its clients develop the most effective way to display their email marketing message, and ensures its clients get the highest send rates and lowest number of opt-outs. Additional information about the company is available at: http://www.pure360.com/. About Move2Mobile Move2Mobile is the UK's foremost wireless business incubator and accelerator. Established in mid-2002, Move2Mobile provides services to a range of businesses from start-up entrepreneurs through to established companies wishing to accelerate and grow their business. Move2Mobile's primary focus is helping businesses by providing management, financial, commercial and other support to selected start-up and early stage ventures in wireless and mobile related industries. Move2Mobile is well positioned to capitalise on its niche position as UK's foremost accelerator for early stage wireless and mobile related companies. Statements about MobiVentures' future expectations and all other statements in this press release other than historical facts are "forward- looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as the term is defined in the Private Litigation Reform Act of 1995. MobiVentures' actual results could differ materially from expected results. MobiVentures undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. The forecasted revenues and other financial information for Pure Promoter for its fiscal year ended March 31, 2008 are projections based on guidance provided by management of Pure Promoter. These projections are forward looking statements that are subject to contingencies associated with the business of Pure Promotor. There is no assurance that these projections will be achieved. Accordingly, investors should not place undue reliance on these forward looking statements. DATASOURCE: MobiVentures Inc. CONTACT: IR, David K. Waldman or Klea K. Theoharis, +1-212-671-1020, of Crescendo Communications, LLC, for MobiVentures Inc. Web site: http://www.mobiventures.com/ http://www.pure360.com/

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