The Board of Directors of the Company approved the voluntary delisting of the Company’s common stock on June 22, 2011, due to the following reasons:

(a) The significant costs associated with regulatory compliance impose a burden that the Company cannot bear given its current financial position. In addition, the current benefits of being a public company is outweighed by the financial burdens imposed by such status; and

(b) The shares of the company are currently held by less than 300 record holders and are thinly traded.

Upon removal of listing, the Company shall cease to file reports with the Security and Exchange Commission.

About m-Wise
m-Wise, with offices in New York, NY and Hertzelya, Israel, started in February 2000. Since then, it has established itself as a leading technology provider with state-of-the-art Content Management and Delivery Platform (CDP), Service Delivery Platform (SDP) and related value-added data engines for mobile operators, wireless ASPs and large content and media providers.

m-Wise leads the industry with its content management and delivery, infotainment, mobile gaming and mobile marketing. It allows for quick creation of campaigns and integration with interactive applications including quizzes, mobile coupons, sweepstakes or games. m-Wise also provides content delivery solutions, which range from content ingestion, presentation, management, delivery, personalization, marketing, promotion, digital rights management and flexible charging and billing.

Forward-Looking Statements

This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. M-Wise expressly disclaims any obligation to publicly update any forward-looking statements contained herein, whether as a result of new information, future events or otherwise, except as required by law.
Contact:

Zach Sivan
m-Wise
press@m-wise.com

m-Wise provides a platform used by leading content owners and service providers to manage, deliver and monetize mobile entertainment, content and applications. The m-Wise mobile software as a service (SaaS) platform is used to power over three million daily mobile service transactions world-wide, and m-Wise has performed over one billion mobile transactions in the aggregate since it was founded in March 2000.

m-Wise’s platform has been utilized in over 300 applications across more than 50 mobile networks by more than 50 international content and media providers. m-Wise’s current customers include leading companies such as Jesta Digital, Thumbplay, Universal Music Group, Digicel and Snackable Media. These m-Wise-enabled applications for content and media partners include content delivery services, ringtones, music, video, games, information services, alerts and advertising and promotions, all of which were developed and delivered from the cloud on a hosted basis.

For the nine months ending September 30, 2010, m-Wise reported sales of $2.1 million, gross profit of $1.2 million and a net loss (including non-cash, stock-based expenses and options accounting) of $0.8 million. Vringo anticipates cost savings and operational synergies from combining m-Wise’s business with Vringo’s core business. As a result, Vringo believes that the m-Wise acquisition will be cash flow accretive with the potential to reduce Vringo’s overall burn rate in the first full year of combined operations.

Under the terms of the LOI, Vringo will issue m-Wise 1.9 million shares of its common stock, provide m-Wise’s management with a retention package comprised of options to purchase 500,000 shares of common stock, and assume and pay over a two year period certain of m-Wise’s expenses and related costs in the amount of $615,000. Vringo will also issue a five-year promissory note for $320,000 convertible into 200,000 shares of its common stock for certain services provided in connection with the transaction.

“This business combination makes tremendous sense for Vringo,” said Jon Medved, Vringo’s Chief Executive Officer. “By adding m-Wise’s rich back-end server technology to Vringo’s proven video application ability, we can generate significant product, customer and cost synergies. We intend to use the m-Wise platform to release multiple new video and other mobile consumer services to our growing family of content and carrier partners. We also expect to acquire revenue and margin contribution as a result of this transaction, which would bring us that much closer to profitability.”

Zach Sivan, m-Wise’s CEO, commented, “We are excited about the prospects of joining with Vringo to provide a rich end-to-end mobile application service platform to an expanded list of customers and directly to consumers. Mobile services are moving to the cloud, and video is the coming tsunami which will drive the entire mobile market. Together with Vringo’s creative and market leading video team, we expect to ride this huge wave to our mutual benefit.”

The proposed transaction is subject to the satisfactory completion of due diligence by Vringo, the execution of a definitive agreement, regulatory approval, and the approval of both the boards of directors and stockholders of Vringo and m-Wise. Upon the closing of a definitive agreement, Vringo expects to prepare and file with the Securities and Exchange Commission (“SEC”) a Registration Statement on Form S-4 covering the shares issued in this transaction. The parties intend to complete the transaction as soon as practicable after receiving all necessary approvals.

Vringo’s fully-hosted carrier platform is currently deployed for international partners in six markets with new launches anticipated in the next quarter. Vringo’s scalable cloud-based distributed application architecture enables the carrier’s subscribers to browse and download mobile videos, set them as video ringtones and instantly share them with friends. In addition to carrier partners such as Orange, Maxis and Etisalat, Vringo has content partnerships with various major content providers including EMI, T-Pain, Tiesto, Muhammad Ali, Turner, Marvel, Discovery Mobile, RTL, Ingrooves and Agence France-Presse.

About m-Wise

Founded in 2000, m-Wise has established itself as a leading international provider of enabling technologies for the mobile entertainment and marketing industries, powering market leaders such as Thumbplay, Fox Mobile Group and Universal Music Group. m-Wise is the developer of the MOMA (“Mobile Originated Message Access”) platform, the de facto content management and service delivery platform used on or through more than 50 mobile networks throughout Europe, North and Latin America and Asia.

MOMA is an integrated “one stop shop” for mobile operators, wireless ASPs, content providers, and media producers to deliver end-users with a state-of-the-art mobile experience. MOMA makes it easy not only to manage and deliver content such as entertainment, music, games, and video without specific regard to handset compatibility but also adds real-time end-user capabilities such as voting, mobile marketing, advertising and access to live data.

For more information, visit m-Wise

About Vringo

Founded in 2006, Vringo (NYSE Amex:VRNG) is bringing about the evolution of the ringtone. With its award-winning video ringtone application and mobile software platform, Vringo transforms the basic act of making and receiving mobile phone calls into a highly visual, social experience. By installing Vringo’s application, which is compatible with more than 200 handsets, users can create or take video, images and slideshows from virtually anywhere and make it into their personal call signature. Vringo’s patented VringForward(TM) technology allows users to share video clips with friends with a simple call. Vringo has launched its service with various international mobile operators and dozens of content partners and maintains a library of more than 5,000 video ringtones. For more information, visit Vringo

Forward-Looking Statements

This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. No assurances can be given that Vringo and m-Wise will consummate this transaction. Vringo expressly disclaims any obligation to publicly update any forward-looking statements contained herein, whether as a result of new information, future events or otherwise, except as required by law.

Contact:

Vringo, Inc.
Jonathan Medved
CEO
Email: jon@vringo.com

Investor Relations Firm:
Crescendo Communications, LLC
John J. Quirk / David K. Waldman
Email: vrng@crescendo-ir.com

NEW YORK, NY and SAO PAULO, BRAZIL — (Marketwire) — 08/11/10 — Mobile content technology vendor m-Wise (OTCBB: MWIS) announces a partnership with Brasiltec, an affiliate of Record TV, one of the largest TV broadcasters in Brazil, to provide fully managed subscription content delivery services for the Brazilian Idol and other TV programs.

m-Wise, a technology expert in mobile content management and delivery, has partnered with Brasiltec, an entertainment and telecom services integrator specializing in interactive mobile entertainment services, to provide subscription content delivery services to a number of television programs in Brazil. The new partnership will allow Brasiltec to offer clients a fully managed subscription content delivery solution that includes interactive SMS and mobile content services. This solution will initially be implemented in several up-and-coming projects for the RECORD TV Network, one of Brazil’s leading television networks.

Over the next few months, m-Wise’s solution will be used to provide weekly subscription content delivery services for regional TV programs in several Brazilian states, starting with Espirito Santo and Rio Grande do Sul. These “Content Clubs” will enable viewers to subscribe and download SMS and WAP content related to regional TV programs from the web and WAP storefronts provided by m-Wise. Brasiltec will also implement m-Wise’s solution to promote SMS and WAP content related to Ídolos Brazil (a reality program that follows the same format as Pop Idol in England and American Idol in the US).

“The market for subscription content and interactive services in Brazil is growing at a rapid pace,” said Fernando SC Dias, General Manager of Brasiltec. “m-Wise has a proven track record in providing cutting-edge mobile content services for integration in a wide range of media and telecommunications projects. Their state-of-the-art content delivery platform will help us continue to provide quality media content to our customers in the telecommunications industry.”

Zach Sivan, m-Wise’s Chief Executive Officer, added, “We’re very excited to be working with one of the largest mobile entertainment companies in Brazil, Brasiltec. Together we will be able to bring amazing interactive products, services and technologies for clients inside and outside the Record Network Group. Brasiltec’s unique interactive technology has made them one of Brazil’s leading mobile entertainment services. We believe that our partnership will be of great value to anyone who wishes to offer subscription content to Brazilian consumers across a variety of media platforms.”

About m-Wise

Founded in 2000, m-Wise has rapidly established itself as a leading international provider of enabling technologies for the mobile entertainment and marketing industries, powering market leaders such as Thumbplay, Fox Mobile Group and Universal Music Group. m-Wise is the developer of MOMA platform, the de facto content management and service delivery platform used on or through over 50 mobile networks throughout Europe, North and Latin America, and Asia.

MOMA is an integrated “one stop shop” for mobile operators, wireless ASPs, content providers, and media producers to always deliver end-users with a state-of-the-art mobile experience. MOMA makes it easy not only to manage and deliver content like entertainment, music, games, and video without specific regard to handset compatibility but also adds real-time end user capabilities like voting, mobile marketing, advertising and access to live data. Better yet, MOMA includes transactional billing, customer care, and even marketing capabilities – all built in.

For press inquiries please contact: Addi Regev (addi.regev@m-wise.com)

Contact:

Addi Regev

addi.regev@m-wise.com