CORRECTION - Spare Backup, Inc.: Spare Backup Officially Launches ShieldX2Plus, a Complete Protection Plan for Most Major Smartphones and Tablets

ShieldX2Plus combines a protective device with a 12-month comprehensive warranty backed by an AM Best "A" rated insurance company covering spills, drops and malfunctions

Spare Backup, Inc. ("Spare Backup")(OTC: SPBU), a provider of data backup and security software for smartphones, tablets and PCs, which is carrier and manufacturer agnostic, announced today that it has officially launched its new ShieldX2Plus comprehensive protection plan for most major smartphones and tablets. ShieldX2Plus combines a sleek, easy to apply protective device with a comprehensive warranty backed by an AM Best "A" rated insurance company. The full offer is now available direct to consumers via its ShieldX2plus.com website.

According to data released by one of the largest insurers of mobile phones in the United States, Americans have spent approximately $7.2 Billion in the last six years on damaged Android phones alone with the most common form of damage coming from drops. Additionally, according to a survey conducted by mobileinsurance.co.uk, approximately 25% of current iPhone users are using a broken or cracked screen for at least six months and many of those claim they can't afford to fix it. With most mobile insurance policies costing close to $100 per year with $99 deductibles or screen replacement services costing between $100 and $200 per screen, fixing a broken screen is a costly undertaking for today's smartphone user.

Spare Backup sees the new ShieldX2plus virtually putting an end to this problem for a fraction of the cost of other bulky and costly solutions on the market today that provide no additional warranty protection. With prices starting at $59.99, users of many of the most popular mobile devices, including iPhones, iPads and Samsung Galaxy 4 will be able to purchase, and easily apply the ShieldX2 to their device making it almost indestructible without the need for a bulky expensive case. In the unlikely event the device is damaged as a result of spills, drops or any other form of damage, it will be replaced for deductibles ranging from only $25 to $50. Each protection plan is backed by an AM Best "A" rated insurance company which handles any claims and fulfillment from start to finish.

Spare Backup is currently in discussions with a number of distribution partners to roll out ShieldX2Plus in Europe and North and South America and anticipates receiving initial orders from several partners in the coming weeks.

Cery Perle, CEO of Spare Backup, Inc., stated: "We are excited to begin the launch of ShieldX2Plus through our new website and look forward to rolling this new 'direct to consumer' model out, and also be able to share this with numerous new and current distribution partners. This product is the perfect solution for a problem that costs consumers and insurance companies billions of dollars per year. We are offering a service and a tangible item at point of sale. This is a big step for Spare Backup as traditionally we have been a 'white label' solution, so we are very excited to use our database and multiple channel partners to market this amazing complete solution. We have seen overwhelming interest from our current partners and we intend to work diligently with them to fully exploit the vast market potential of ShieldX2Plus for the benefit of our company and its stockholders."

About Spare Backup, Inc.

Spare Backup, Inc. is a leading provider of data backup and security software for smartphones, tablets and PCs. Spare Backup's software enables consumers and small to medium sized businesses to easily protect valuable computer and mobile data quickly, automatically and cost-effectively. Spare Backup software intelligently selects, secures and stores personal and business content on a continuous basis or according to the schedule of the user's choice. It also allows for the integration of that content across various devices and provides enhanced security features to protect valuable data on any lost or stolen devices.  Spare Backup software is the first totally automated cloud-based backup service that is distributed on a stand-alone or private label basis through major retail and warranty service partners in North America and Europe.

Safe Harbor Statement

The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking information made on the company's behalf. All statements, other than statements of historical facts, which address the company's expectations of sources of capital or which express the company's expectation for the future with respect to financial performance or operating strategies can be identified as forward-looking statements. Such statements made by the company are based on knowledge of the environment in which it operates, but because of the possibility of unknown factors, as well as other factors beyond the control of the company, actual results may differ materially from the expectations expressed in the forward-looking statement. An investment in our common stock involves a significant degree of risk. You should not invest in our common stock unless you can afford to lose your entire investment. You should consider carefully all risk factors and other information in our annual report and quarterly filings before deciding to invest in our common stock. If any of the following risks and uncertainties develops into actual events, our business, financial condition or results of operations could be materially adversely affected and you could lose your entire investment in our company.

Forward Looking Statements

This press release contains forward-looking statements that involve a number of risks and uncertainties, including statements regarding the outlook of the Company's business and results of operations. By nature, these risks and uncertainties could cause actual results to differ materially from those indicated. Generally speaking, any statements using terms such as "will," "expect," "anticipate," or "may," or which otherwise predict or address future results or events, are likely to contain forward-looking statements. It is important to note that actual results may differ materially from what is indicated in any forward-looking statement.

Readers should consider any forward-looking statements in light of factors that could cause actual results to vary. These factors are described in Spare Backups filings with the SEC, and readers should refer to those filings, including Risk Factors described in those filings, in connection with any forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT Spare Backup, Inc.
Ascendant Partners at [email protected], +1-732-642-7770

SOURCE Spare Backup, Inc.