MediaNet Group's BSP Rewards Division Selected by Giftco to Develop Fundraiser Web Mall for Schools: Financial News

MediaNet Group's BSP Rewards Division Selected by Giftco to Develop Fundraiser Web Mall for Schools
Thursday January 10, 8:00 am ET

MARGATE, FL--(MARKET WIRE)--Jan 10, 2008 -- MediaNet Group Technologies, Inc. (OTC BB:MEDG.OB - News), a leading developer of private branded web malls and online affinity programs through its BSP Rewards subsidiary, announced today the formation of a strategic relationship with Giftco, Inc., a leading provider of gifts and merchandise for the fundraising industry with a client base that includes a significant segment of the school systems throughout the United States. As part of the agreement, BSP Rewards will develop a Web Mall fundraising program for Giftco. Giftco customers, like the other BSP rewards users which have doubled in the past year to nearly 1 million, will be able to shop online for their favorite items at over 725 retail stores and other merchants while saving money and earning points for additional savings or other pooled purchasing power.

Commenting on this groundbreaking marketing relationship, Martin Berns, Chief Executive Officer of MediaNet Group Technologies, said, "This is a very important milestone for BSP Rewards as we now have a national marketing partner with critical access to an influential client base. Giftco is a national supplier of school fundraising products and has been a leader in the fundraising industry for over 35 years. As a popular supplier of products used to raise money to fund educational, enrichment and athletic programs at over 25,000 schools across the country, Giftco is connected with parent-teacher associations (PTAs), school officials, students and other school supporters, among other consumer groups, which are highly attractive demographics for Internet-based retail shopping programs created by BSP Rewards. These consumers are ideal beneficiaries of the convenience and purchasing power made available through BSP's leading online shopping mall, the largest single source for affinity-based e-commerce."

Howard Shapiro, V.P. Marketing of Giftco, stated, "Giftco, the leader in fundraising incentive programs, is very excited to announce that it has chosen BSP Rewards to complement and enhance its marketing capabilities for Giftco customers. After viewing the BSP presentation and meeting with the people involved in BSP and its parent company MediaNet Group Technologies, Giftco is very encouraged to have created a strategic relationship with the developer of the leading online mall and affinity program."

Giftco distributes merchandise throughout every state in the United States and also in Canada, and has been instrumental in assisting its customers to raise much needed funds for schools. In addition to providing the merchandise for purchase by the consumer, Giftco offers the most comprehensive selection of incentive programs to aid students in the sale of the products.

Established in 1975 in Vernon Hills, IL, Giftco has become the market leader in providing gift items and specialty products to the fundraising industry. The company's success stems from its continued ability to combine Giftco's proprietary fundraising line, strong customer and supplier base and proven service capabilities through the organization's comprehensive knowledge of the complex fundraising sales cycle.

About MediaNet Group Technologies, Inc.:

MediaNet Group Technologies, Inc. (OTC BB:MEDG.OB - News) encompasses an integrated group of operating divisions that revolve around the many aspects of technology, including branded rewards programs, web mall programs, and online media intellectual properties. Additional information on MediaNet Group Technologies can be found on the Internet at www.medianetgroup.com.

MediaNet Group Technologies has developed unique proprietary platforms, software and solutions for every size business. The Company offers extremely affordable, simple, immediate implementation, delivered as feature rich turnkey rewards and loyalty enterprise solutions for corporations interested in expanding their web presence and enhancing customer relations -- turning operational costs into profit centers.

BSP Rewards, Inc., a wholly owned subsidiary of MediaNet Group Technologies, builds, brands, customizes and administers proprietary loyalty/rewards/mall program for each client and organization and is also a value added element layered onto debit and stored value cards. Members receive up to 15% in rewards and up to 60% in discounts when purchasing merchandise and other products from the nation's best retailers through the BSP network. Strategic relationships entered into as part of the Company's branded web mall concept includes leading retailers such as Macy's, Target, Starbucks, Blockbuster, Old Navy, Target, CompUSA, Budget Rent-a-Car and over 700 other merchants. With over 50 web malls already developed and in use, BSP Rewards currently serves nearly 1 million registered users. A typical BSP Rewards Mall may be seen at www.bigbrandmall.com and details about the program can be viewed at www.bsprewards.com.

"Forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. MediaNet Group Technologies, Inc. disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions (including in the information technology and financial information industry), actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services, changes in our business strategies.