Alessandro Annoscia Joins MediaNet Group Technologies, Inc. As Chief Operating Officer

BOCA RATON, Fla., June 9, 2011 /PRNewswire/ -- MediaNet Group Technologies, Inc. (OTCQB: MEDG), a global shopping and entertainment community, today announced that commencing July 1, 2011, Alessandro Annoscia will join the Company as Chief Operating Officer, reporting directly to Michael Hansen, President and Chief Executive Officer.   Mr. Annoscia brings to MediaNet Group over 20 years of success in helping both big corporations and start-up companies grow sales and organizations globally.

Michael Hansen stated, "We are honored and privileged to have attracted such a strategic-minded executive to the MediaNet Group team to help lead us through our next phase of growth.  Alessandro's experience in building sales organizations, specifically in developing regions of the world, while designing and deploying global best sales practices should prove beneficial to our global business. His expertise in creating consumer-centric sales organizations and multicultural sales teams will be of significant value throughout the entire DubLi organization."

Alessandro Annoscia said, "I am thrilled with this opportunity and firmly believe the distinguishing characteristics of the company—innovative technology on a global platform with a strong customer focus—will prove to be a solid foundation for growth in the months and years ahead."

Mr. Annoscia joins MediaNet Group from Groupon GmbH where he led competitive strategies in Japan and built the E-Commerce practice in Beijing.  As sales director he was responsible for all operations, strategies, staffing and overall management for the practice, which grew from 0 to 20% of the Company's total Beijing sales within in the first month of operation.  Prior to joining Groupon GmbH, Mr. Annoscia spent time in Silicon Valley as an investor and Chief Operating Officer of Rackup.com, where he was responsible for operations, sales, marketing and technology, as well as funding strategies and financial modeling. He also co-founded PointGrow Inc., is a founding investor of Openbucks.com and an advisor to insteal.com, a Beijing early stage start-up.

From 1993-2008, Mr. Annoscia held positions of increasing seniority with Microsoft Corporation, most recently as Senior Director, Global Sales Excellence.  In this role, he developed a new global relationship management strategy and introduced standardized processes to global account teams.  Prior to his Global role, he held various executive positions in the Latin American region leaving as the General Manager, Enterprise Partners & Alliances, where he helped re-engineer the overall distribution, alliance and channel sales and services organizations resulting in a sales increase of almost 40%, distributor direct renewals of more than 30% and ROI rates for alliance investments of more than 40%. Earlier in his career at Microsoft, Mr. Annoscia was Regional Director of Sales and Marketing, General Manager and Microsoft Consulting Services Practice Manager for Microsoft in Latin America and Mexico.

Mr. Annoscia began his career with Accenture right after college where he rose to the position of Senior Manager of the government and services practice for Mexico.

Mr. Annoscia is a graduate with a Bachelor of Arts in Computer Science from Jones College in Jacksonville, Florida and attended the General Management Executive Program at Columbia University in New York.  

About MediaNet Group Technologies, Inc.:

MediaNet Group Technologies, Inc. has created a global online shopping community that includes its reverse auction concept, shopping mall platform and entertainment portal.  The Company's unique operating strategy combines online shopping with its distribution network to reach customers directly on a global scale.

The foundation of MediaNet Group is grounded in innovative technology, a global platform and an expertise in understanding and capitalizing on global economic trends and changing consumer behaviors.  The central hub of the MediaNet Group community is DubLi.com from which all other components of the business model are derived.  Additional information about the Company is available in its filing with the Securities and Exchange Commission at www.sec.gov.

Except for historical matters contained herein, statements made in this press release are forward-looking. Without limiting the generality of the foregoing, words such as "may," "will," "to," "plan," "expect," "believe," "anticipate," "intend," "could," "would," "estimate," or "continue" or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements.

Investors and others are cautioned that a variety of factors, including certain risks, may affect our business and cause actual results to differ materially from those set forth in the forward-looking statements. These risk factors include, without limitation, the risk of (i) an inability to establish and/or maintain a large, growing base of business associates; (ii) an inability to develop and/or maintain brand awareness for our online auctions; (iii) a failure to maintain the competitive bidding environment for our online auctions; (iv) a failure to adapt to technological change; and (v) a failure to maintain adequate internal controls. The Company is also subject to the risks and uncertainties described in its filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended September 30, 2010.

Contacts:

MediaNet Group Technologies, Inc.:
Stefanie Kitzes
[email protected]
561-417-1500

Cameron Associates, Inc.:
Paul G. Henning
[email protected]
212-554-5462

SOURCE MediaNet Group Technologies, Inc.