MobileBits Strengthens Leadership In Preparation For Global Growth

- MobileBits adds CFO, CRO and 2 new board members

LOS ANGELES, May 14, 2012 /PRNewswire/ -- MobileBits Holdings Corp., (OTCBB: MBIT), a leading provider of enterprise-class social and mobile experience solutions, today announced that Jim Burk and Dan Miller have joined the company as Chief Financial Officer and Chief Revenue Officer, respectively, effective immediately.  In addition, MobileBits also welcomed Dr. Glenda Glover and Gregory Goldberg to the Board of Directors.

Jim Burk brings over 33 years in the finance sector and a wealth of experience in financial operations and public company management including investor relations. Most recently, Mr. Burk served as CFO of Nero AG, Youbet.com, Palace Entertainment Holdings, Inc., and previously held operating and financial positions with NBC Universal Studios.  He began his career at PricewaterhouseCoopers.

Dan Miller brings over 20 years in revenue management including M&A, sales and global channel development. Prior to MobileBits, Dan was the EVP for INGage Networks, Managing Partner of Startup Florida LLC, and BizTank LLC.  In 2005, he founded Movo Mobile, LLC, a mobile marketing company, which was acquired in October 2006.  Mr. Miller was also the founder and President of PlanetResume.com which merged with CareerShop.com in October 1999, then subsequently sold to Personnel Group of America in June 2000.

"We welcome our new executives and our new board members as they will be valuable assets to the executive team and Board of Directors," said Walter Kostiuk, Chairman and President of MobileBits. "Their depth of experience in finance and revenue generation will be invaluable assets in shaping MobileBits and driving growth, investment and profitability for the organization."

Jim Burk will concentrate on the financial planning and analysis for the company, as well as overseeing the company's investor relations, capitalization strategy, risk management and overall business performance. Dan Miller will focus on overall revenue performance, global sales and channel development for PRINGO CONNECT™ as it readies SAMY4ME™ for global availability.

"The arrival of our new CFO and CRO comes at an integral time for MobileBits.  The company is growing at a rapid pace having recently completed our merger with Pringo Inc. and announced the acquisition of Aixum TEC AG to complete our mobile marketing solution offering for the retail and merchant vertical," said Majid Abai, CEO of MobileBits.

Dr. Glenda Glover has been the Dean of the College of Business at Jackson State University since 1994.  She has been a member of the Board of Directors of First Guaranty Bancshares since 1999 and Chair of the Audit Committee since 2009.  She also serves on the Advisory Board of Regions Bank and also as the Chairman of the Board of Commissioners of the Jackson Airport Authority since 2002.

Mr. Goldberg has been an officer and member of PCPM GP, LLC and a manager and member of Professional Traders management, LLC since 2003. Mr. Goldberg was a principal at Ocean View Capital LLC and managed a $2 Billion fund at Prudential.

About MobileBits
MobileBits Holdings Corp. is a global technology company that strengthens relationships between businesses and their audience by enabling exceptional digital experiences.  Our family of Pringo™ products delivers highly integrated social, rich media, loyalty and mobile marketing solutions to any device, which, in turn, drives engagement and loyalty to maximize revenue.

To learn more, visit MobileBits www.mobilebits.com.

This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. There are a number of factors that could cause actual results and developments to differ materially from forecasted results. These risks and uncertainties include our ability to: attract end users; attract advertisers; our ability to successfully implement our current long-term growth strategy; as well as product demand, market competition, fluctuations in advertising payouts, delays in website & application development, technical issues beyond our control, reliance on the various platforms that we build applications on, and risks inherent in our operations. For a discussion of these risks and uncertainties, please see our filings with the Securities and Exchange Commission. Our public filings with the SEC are available from commercial document retrieval services and at the website maintained by the SEC at http://www.sec.gov.