Fourth Consecutive Quarter of Profitability
                         Quarterly Revenues up 244%

TORONTO, July 31 /PRNewswire-FirstCall/ - Diversinet Corp. (TSX Venture: DIV, OTCBB: DVNTF), a leading provider of secure application platforms for the mobile world, today announced financial results for the second quarter of 2009. All dollar amounts are in U.S. dollars.

Revenues for the second quarter were $1,945,000, up 244% percent compared to $565,000 in the second quarter of 2008. Revenues for the six months ended June 30, 2009 were $3,955,000, up 336% from $906,000 in the same period in 2008. The Q2 2009 revenues include $1,625,000 from the $40 million five-year worldwide license and revenue share agreement with AllOne Mobile Corporation ("AllOne") signed in Q3 2008.

The net income for the second quarter of 2009 was $1,056,000 or $0.02 per share, compared to a net loss of $1,205,000, or $0.03 per share in the second quarter of 2008. The net income for the six months ended June 30, 2009 was $1,238,000, or $0.03 per share, compared to a net loss of $2,363,000 or $0.05 per share in the similar six months of 2008. Included in the second quarter net income are non-cash stock-based compensation, depreciation and amortization of $259,000 ($304,000 in Q2 2008). Also included in the second quarter net income is a foreign exchange gain of $707,000 ($15,000 gain in Q2 2008). Cash and cash equivalents at June 30, 2009 were $10,671,000 and $10,719,000 at March 31, 2009.

Albert Wahbe, CEO and Chairman stated "First and foremost is the continued strength of our balance sheet and the achievement of our fourth consecutive profitable quarter - both represent significant achievements for Diversinet. We believe that 2009 will be our first profitable year since our founding twelve years ago. From a business perspective, 2009 will continue to be measured by our and AllOne's ability to negotiate pilots and strategic partnerships as we wait for the wireless health care market to emerge. While we would like to see the market evolve faster, we have noticed an increase in telehealth activity over the last three months. From a competitive standpoint, we believe Diversinet is a leading secure application platform for the mobile world. Through our partnership with AllOne Mobile we have established exciting new relationships with Microsoft HealthVault and the U.S. Army, establishing a credible footprint. Additionally, we have several U.S. and international activities that I am confident will emerge during the second half of 2009. Please note that Diversinet is providing technology leadership in the telehealth segment that is still in its infancy and evolving rapidly. While our technology is available for deployment, our growth is ultimately reliant upon market adoption. We continue to believe that we can make additional progress in the health care industry even in these challenging economic times and believe the U.S. commitment to spend up to $31 billion dollars on U.S. health care information technology over the next 10 years will be a positive catalyst for AllOne and Diversinet. With this momentum, we expect to launch an investor relations program later this year."

    Company, customer and product solution highlights include:

    -   During May 2009, the AllOne Mobile secured by Diversinet and MyHealth
        Mobile application (for BlueCross of Northeast Pennsylvania members)
        was approved and is now available on the Verizon BREW application
        deck for download.

    -   During May 2009, the AllOne Mobile secured by Diversinet product went
        live with a secure mobile consumer direct PHR (personal health
        record) solution that is offered by Microsoft's HealthVault. The
        product is now available for purchase for $25 per year. Visit
        HealthVault's website to purchase our innovative solution today at 
http://healthvault.com/websites/AllOneHealth-AllOneMobile.html?type=
application.

    -   During June 2009, the AllOne Mobile secured by Diversinet product
        went live on the iTunes App Store offering three iPhone apps
        available for download. The applications are for AllOne Mobile,
        MyHealth Mobile and mCare. The mCare application is for use in a U.S.
        Army pilot that creates a challenge response secure session with the
        wounded warrior for interactive feedback. The AllOne Mobile direct to
        consumer application for Microsoft's HealthVault is anticipated to be
        available in August.

    -   During June 2009, after successful implementation of our U.S. Army
        pilot our combined solution was moved behind the Army's firewall and
        the pilot metrics expanded. An early positive sign. AllOne Mobile's
        platform is anticipated to support the rehabilitation needs of up to
        10,000 returning soldiers in a phased implementation over the next
        year.

    -   Diversinet was awarded an additional U.S. Patent # 7,555,460
        entitled "Payment system and method using tokens" on June 30, 2009.
        The patent provides a method for collecting payment over the internet
        by a third party for services using secure digital tokens issued by a
        third party. The new patent addresses several security and fraud
        issues related to the use of credit card payments over the internet.
        Diversinet's patent portfolio now includes 12 patents and 24 patents
        pending.

    -   During April 2009, the AllOne Mobile Secured by Diversinet product
        (that utilizes MobiSecure Wallet and Vault) won the Info Security
        Products Guide 2009 Global Product Excellence Award for Security
        solution for health.

About Diversinet

Diversinet Corp. (TSX Venture: DIV, OTCBB: DVNTF) is a leading provider of secure application platforms for the mobile world utilizing wireless authentication and access solutions that secure the personal identity, transactions and data of consumers over almost any mobile phone or handheld device. Diversinet's reliable, end-to-end MobiSecure Wallet and Vault products provide global, secure and cost effective applications to mobilize personal health records, financial services transactions and identity protection management. Connect with Diversinet Corp. at www.diversinet.com.

The Private Securities Litigation Reform Act of 1995 and Canadian securities laws provide a "safe harbour" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by the company) contains statements that are forward-looking, such as statements relating to anticipated future revenues of the company and success of current product offerings and the term of the agreement with AllOne Mobile Corporation. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of the company. For a description of additional risks and uncertainties, please refer to the company's filings with the Securities and Exchange Commission available at www.sec.gov and Canadian securities regulatory authorities available at www.sedar.com.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.



    Diversinet Corp.
    CONSOLIDATED BALANCE SHEETS
    (in United States dollars)

                                                       June 30   December 31
                                                          2009          2008
                                                             $             $
    -------------------------------------------------------------------------
                                                    (Unaudited)

    ASSETS
    Current assets
    Cash and cash equivalents                       10,671,462    12,075,422
    Accounts receivable (note 2(c))                    217,307             -
    Prepaid expenses                                    42,029        57,346
    -------------------------------------------------------------------------
    Total current assets                            10,930,798    12,132,768
    -------------------------------------------------------------------------
    Property and equipment, net (note 4)               241,745       255,264
    -------------------------------------------------------------------------
    Total assets                                    11,172,543    12,388,032
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

    LIABILITIES AND SHAREHOLDERS' EQUITY
    Current liabilities
    Accounts payable                                   177,615       168,078
    Accrued liabilities (note 5)                       170,465       511,961
    Deferred revenues                                   35,833     2,646,356
    -------------------------------------------------------------------------
    Total current liabilities                          383,913     3,326,395
    -------------------------------------------------------------------------

    Shareholders' equity
    Share capital (note 6)                          68,168,993    68,099,993
    Contributed surplus                              8,030,183     7,596,686
    Share purchase warrants (note 6)                         -        13,687
    Deficit                                        (63,889,825)  (65,128,008)
    Accumulated other comprehensive income:
      Cumulative translation adjustment             (1,520,721)   (1,520,721)
    -------------------------------------------------------------------------
    Total shareholders' equity                      10,788,630     9,061,637
    -------------------------------------------------------------------------
    Total liabilities and shareholders' equity      11,172,543    12,388,032
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------



    Diversinet Corp.
    CONSOLIDATED STATEMENTS OF NET INCOME (LOSS)
    AND DEFICIT AND COMPREHENSIVE NET INCOME (LOSS)
    (in United States dollars)
    (Unaudited)
                      Three months ended June 30    Six months ended June 30
                              2009          2008          2009          2008
                                 $             $             $             $
    -------------------------------------------------------------------------

    Revenues             1,944,683       564,709     3,954,958       906,304
    Cost of revenues        42,491        68,760        84,428       150,823
    -------------------------------------------------------------------------
    Gross margin         1,902,192       495,949     3,870,530       755,481

    Expenses
      Research and
       development         689,483       715,048     1,346,959     1,343,071
      Sales and
       marketing           379,198       486,344       758,717       896,301
      General and
       administrative      472,904       525,411       912,384       971,866
      Depreciation and
       amortization         18,799        26,494        36,631        52,040
    -------------------------------------------------------------------------
                         1,560,384     1,753,297     3,054,691     3,263,278
    -------------------------------------------------------------------------
    Income (loss)
     before the
     following             341,808    (1,257,348)      815,839    (2,507,797)
    Foreign exchange
     gain                  706,820        15,101       383,778        36,502
    Interest income          7,133        37,735        38,566       108,142
    -------------------------------------------------------------------------
    Net income (loss)
     for the period
     and comprehensive
     net income (loss)   1,055,761    (1,204,512)    1,238,183    (2,363,153)
    -------------------------------------------------------------------------

    Deficit, beginning
     of period         (64,945,586)  (64,337,316)  (65,128,008)  (63,178,675)
    Net income (loss)
     for the period      1,055,761    (1,204,512)    1,238,183    (2,363,153)
    -------------------------------------------------------------------------
    Deficit, end
     of period         (63,889,825)  (65,541,828)  (63,889,825)  (65,541,828)
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

    Basic and diluted
     earnings (loss)
     per share                0.02         (0.03)         0.03         (0.05)
    Weighted average
     basic common
     shares
     outstanding        47,106,935    43,242,783    47,069,642    43,242,783
    Weighted average
     fully diluted
     common shares
     outstanding
     (note 7)           47,221,687    43,242,783    47,106,527    43,242,783



    Diversinet Corp.
    CONSOLIDATED STATEMENTS OF CASH FLOWS
    (in United States dollars)
    (Unaudited)
                      Three months ended June 30    Six months ended June 30
                              2009          2008          2009          2008
                                 $             $             $             $
    -------------------------------------------------------------------------

    OPERATING
     ACTIVITIES
    Net income (loss)
     for the period      1,055,761    (1,204,512)    1,238,183    (2,363,153)
    Add (deduct) items
     not requiring an
     outlay of cash:
      Depreciation and
       amortization         18,799        26,494        36,631        52,040
      Foreign exchange
       (gain) loss        (646,724)      (15,334)     (343,577)       (6,591)
      Stock-based
       compensation
       expense
       (note 6(c))         240,665       277,815       488,810       479,469
    -------------------------------------------------------------------------
                           668,501      (915,537)    1,420,047    (1,838,235)

    Changes in non-cash
     working capital:
      Accounts
       receivable         (168,987)            -      (217,307)      122,687
      Prepaid expenses      (1,183)       11,306        15,317        20,319
      Accounts payable      37,497        83,099         9,537        29,943
      Accrued
       liabilities         (28,680)       68,080      (341,496)     (523,735)
      Deferred revenue  (1,185,834)       34,942    (2,610,523)      (59,027)
    -------------------------------------------------------------------------
    Cash used in
     operations           (678,686)     (718,109)   (1,724,425)   (2,248,048)
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

    FINANCING
     ACTIVITIES
    Issue of common
     shares on exercise
     of warrants
     for cash                    -     1,725,000             -     1,725,000
    -------------------------------------------------------------------------
    Cash provided by
     financing
     activities                  -     1,725,000             -     1,725,000
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

    INVESTING
     ACTIVITIES
    Purchase of
     property and
     equipment             (15,463)      (12,631)      (23,112)      (13,915)
    -------------------------------------------------------------------------
    Cash used in
     investing
     activities            (15,463)      (12,631)      (23,112)      (13,915)
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

    Foreign exchange
     gain on cash
     held in foreign
     currency              646,724        15,334       343,577        36,502
    Net change in cash
     and cash
     equivalents during
     the period            (47,425)    1,009,593    (1,403,960)     (530,372)
    Cash and cash
     equivalents,
     beginning of
     the period         10,718,887     6,854,321    12,075,422     8,394,286
    -------------------------------------------------------------------------
    Cash and cash
     equivalents,
     end of
     the period         10,671,462     7,863,914    10,671,462     7,863,914
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

    Supplemental cash
     flow information:
      Interest
       received              7,133        37,735        38,566       108,142
    Supplemental
     disclosure
     relating to
     non-cash
     financing and
     investing
     activities:
      Issuance of
       shares to
       employees
       (note 6(a))          41,250        42,000        69,000        71,499
    -------------------------------------------------------------------------

    Cash and cash
     equivalents is
     comprised of:
      Cash                                             646,657     2,356,432
      Cash equivalents                              10,024,805     5,507,482
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
                                                    10,671,462     7,863,914
    -------------------------------------------------------------------------

SOURCE Diversinet Corp.

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