ASX Release March 23, 2007 Mobi Limited ACN 009 805 298 (ASX:MBI) MOBI LTD EXCEEDS 500,000 USERS OF ITS INSTANT MESSAGING PRODUCT PREDOMINANTLY IN THE USA The Company has pleasure in announcing that it has now deployed in excess of 500,000 downloads of its Instant Messaging product since inception. This number is increasing at a rate of almost 1,500 users per day. Dependant on time of day, there can be between circa 2,000 and c20,000 people chatting on the Mobi Instant Messaging product across the world. This Instant Messaging product is quite distinct from the mobile product suite being offered in India and will be a very separate revenue stream for the Company. The 500,000 + milestone is incredibly significant because the Board has now determined it economically viable to monetize this dynamic audience by way of mobile advertising and subscription based revenues. Moreover, with a new marketing push, and as we delve into Asia and other continents it is intended that this user base be expanded to 5 million downloads over the next twenty four months. The company has commenced discussions with a number of high profile media buyers throughout the globe. Once fully matured each download user should conservatively return the Company in excess of US$1 per annum per download user in revenues from advertising. Martin Sorrell, CEO of WPP, www.wpp.co.uk a circa $20 billion capitalized marketing Company headquartered in London, last month predicted that mobile telephone advertising will constitute 5% of all marketing budgets globally. Mobi has positioned itself to have a substantial customer base that will be available to offer these mobile marketing services. With footprints existing predominantly in the USA and India we expect to be a forerunner of the mobile advertising sector and selling of various mobile software applications to an extensive user base. Chairman Fabio Pannuti stated “It is abundantly clear to me that Mobi is just now beginning to unlock its hidden value and commercialize its product suite. Benefits from this should in turn flow through to shareholders by way of revenue and capital accretion. Product cycles are coming to maturity and we are now seeing very clearly the path to monetization. We are talking about growing a global product. This takes time and I believe we are reaching the end of our development cycle. This company is no longer predominantly a technology company, it is quickly becoming a sales company with a fully fledged product line that provides applications, content and advertising to the global mobile market place.” Yours Sincerely, Fabio Pannuti - Chairman
MBI Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
