BSP Rewards - Branded Loyalty Rewards Programs

MediaNet Group To Build Private Branded Mall For International Licensing Industry Merchandisers’ Association (LIMA)

MARGATE, FL – June 2, 2008 –MediaNet Group Technologies, Inc. (OTCBB: MEDG), the largest online mall and affinity program platform through its BSP Rewards subsidiary, today announced that it has been chosen to create a private branded web mall for the International Licensing Industry Merchandisers’ Association (LIMA), the licensing industry’s trade organization representing over 1,100 major companies engaged in the marketing of licensed properties.

BSP will develop a private branded web mall in its efforts to develop relationships with LIMA’s membership base-- a compilation of the world’s most recognized and respected brand names. Initially, LIMA will utilize the new mall as an introduction to participating companies, their employees and as a demonstration site for the benefit of their member organizations.

Martin Berns, chief executive officer of MediaNet Group said, “Being selected by LIMA presents a significant opportunity for us to gain access to the world’s most identifiable brands. Having LIMA recognize BSP’s value-added services provides us potential for future marketing and revenue generating options. We look forward to working with LIMA and its members and to developing new opportunities for enhancing brand recognition and consumer loyalty among its constituents and BSP members.”

Mr. Berns added, “We are especially excited about our participation in the LIMA show this June. The 1,100 member companies will have had the opportunity to test and use the platform for weeks prior to the show.”

Charles M. Riotto, president of LIMA, stated, “BSP’s loyalty and retention program offering is aligned with the mission of LIMA’s member organizations. While we are approached frequently with rewards and loyalty programs, none are comparable to the value-added benefits offered by BSP. We are excited about the potential to unveil these marketing possibilities to our members who are focused on ways to enhance and extend their celebrated brands.”

BSP will be showcasing a completely new package that encompasses our mall in combination with a unique, point-based combination of promotional rewards programs and a special stored value debit card. BSP has formed a partnership with the Ignition Network and Prepaid Solution to introduce their trio of services at the LIMA show.

MediaNet Group Technologies, Inc. (OTCBB: MEDG), through its BSP Rewards division, has developed the largest online mall and affinity program platform. BSP builds, brands, customizes proprietary loyalty/rewards/mall programs for clients and organizations and for a value added element layered onto debit and stored value cards. Companies and organizations enroll their members into the program and BSP cross-markets them to its entire database.

The Company generates product purchases from over 750 participating mall merchants including the nation’s largest retailers as well as gift cards and a large discount catalog. With over 60 web malls already developed and in use, BSP Rewards currently serves more than 500,000 registered users. The Company offers affordable, immediate implementation, delivered as rich turnkey enterprise solutions for corporations interested in expanding their web presence and enhancing customer relations -- turning operational costs into profit centers.

LIMA was founded in 1985 by the merger of the Licensing Industry Association and Licensed Merchandisers’ Association. Today LIMA has over 1,100 members representing companies and individuals engaged in the marketing of licensed properties, both as agents and as property owners; manufacturers, consultants, publications, lawyers, accountants, retailers, etc. in the licensing business. LIMA’s objectives are to establish a standard reflecting a professional and ethical management approach to the marketing of licensed property; to be the leading source of information in the industry; to communicate this information to members and others in the industry through exhibits, publishing, public speaking, seminars and electronically and to represent the industry in trade and consumer media and in relationships with retailers, manufacturers, other trade associations and the public. LIMA is the official sponsor of the annual Licensing International trade show, held each June, and producers of Licensing University seminars. LIMA has offices in New York, London, Munich, Tokyo and Shanghai. Through regional and national events, seminars, exhibits, and publishing, this not-for-profit corporation is the international rallying point for organizations interested in learning about and participating in the business of licensing.

“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, and the purchasing activity or lack thereof by registered web mall members. The number of BSP web mall members is routinely revised to reflect adjustments for inactive membership. Inactive members are defined as registered members who have not shopped in a BSP web mall for an extended period of time.

MediaNet Group Contact
Martin Berns
Chief Executive Officer
954-974-5818 ext. 202
martin@medianetgroup.com