Greystripe Launches AdWRAP - The First Mobile In-Game Advertising Network with Major Brands Speedee Oil Change & Tune-Up, Zagat Survey, and Modtones

FOR IMMEDIATE RELEASE





LOS ANGELES - May 10th, 2006 - On the heels of the 2006 E3, Greystripe Inc. is proud to launch AdWRAP, the first mobile in-game advertising network in North America, and has signed deals with major advertisers looking to target this emerging market -- Zagat Survey, Modtones, and GPShopper.

AdWRAP delivers a turnkey advertising network that blends the advantages of mobile marketing, viral promotion and advergaming. Greystripe employs patent-pending technology that provides a platform for advertisers to target opt-in consumers anywhere anytime. In return, mobile users get to download free games that are subsidized by non-obtrusive advertising within the gaming experience.

"We selected Greystripe's AdWRAP because it provide an effective and compelling way to reach a new market of consumers," said John Boris,VP of Marketing at Zagat Survey. "It provides a highly qualified target audience for our ZAGAT TO GO product line."

AdWRAP is built for scalability as in-game advertising market predicted to grow more than 10x in next five years

Mobile in-game advertisements provide significant value over current mobile marketing methods, with full-screen ads, video formats and the ability to target consumers who are more likely to respond to promotions in their free time. According to M:Metrics, in 2005 there were approximately 55 million mobile game players in the U.S. alone. In-game advertising revenues are predicted to grow to $732 million by 2010, up from $56 million in 2005, according to Yankee Group.

AdWRAP launches with nine game publishers covering all major genres

Mobile application distribution partners, like GetJar, boast four million downloads per month and more than one million users. Greystripe will monetize this audience with AdWRAPed games that cover sports, casino, action and adventure, puzzles and strategy. The AdWRAP Network includes games by Cellufun, a multiplayer online gaming portal with free games, including MobilePets, Sudoku, Chess, and the Battle for Orion's Belt.

Other publishers include Bogee Interactive, Tlogic, Blastone, FunRunGames, Omikron, Chakra Interactive, 3D Arts, and Big Blue Bubble. Big Blue Bubble has developed several well-known games, including the following mobile titles: 24 (IGN Editor's Choice Award), Jewel Quest (Mobile Game Faqs Best Puzzle Award and Jamster's Best Mobile Game of 2005), Mahjong Quest (WGWorld Editor's Award), Milton Bradley Board Games, Destroy All Humans, Dragon Tower, Red Faction 2, Mastermind 2, Standing Stones, and The Three Stooges.

"AdWRAP will allow us to continue to develop free high-quality mobile games by providing us an avenue where we can generate revenue just by incorporating non-obtrusive advertisements into our games," said Damir Slogar, CEO of Big Blue Bubble. "Greystripe's technique not only allows users to fully enjoy great games, but also enables developers to easily and seamlessly implement the technology."

AdWRAP building direct advertiser, brand and agency channels

The network is looking to expand its newly created agency partnership program, which currently includes Engage In-Game Advertising, an in-game media company that is partnering with Greystripe in the launch of a mobile in-game advertising campaign for Engage client SpeeDee Oil Change & Tune-Up.

"By bringing promotions to market in hours versus the weeks needed for traditional short-code-based mobile marketing programs, advertisers can reach a wide audience in a quicker and more cost effective manner," states Michael Chang Greystripe VP of Marketing.

For more information on Greystripe's AdWRAP Network or to schedule a demo visit http://www.greystripe.com.

About Greystripe
Greystripe is the world's first mobile advertising network for games and applications. Greystripe's AdWRAP mobile advertising network monetizes applications and games, provides quick loading, targeted ads for consumers, turnkey profits for publishers, and cost-effective trackable ROI for advertisers. Greystripe's BrandWRAP offers a full-service advergaming solution for customers looking for multiple marketing messages and complete in-application integration.

For more information, please contact:
Vijay Chattha
Greystripe PR/VSC Public Relations
(m) 415 305-6041 / vijay@vscconsulting.com