DubLi Names Troels Thostrup Andersen Marketing & Communications Director

Sep 14, 2011, 08:00 ET from MediaNet Group Technologies, Inc.

BOCA RATON, Fla., Sept. 14, 2011 /PRNewswire/ -- MediaNet Group Technologies, Inc. (OTCQB: MEDG), a global shopping and entertainment community, today announced that Troels Thostrup Andersen has been appointed Marketing & Communications Director, reporting directly to Michael Hansen, President and Chief Executive Officer, and Alessandro Annoscia, Chief Operating Officer.

Mr. Andersen joins the Company from Groupon GmbH, where he was Founder of Groupon Denmark and served as its Managing Director, following his earlier role as Vice President of International Business Development for Groupon Japan.

The Marketing & Communications Director position, a new role within the Company, is responsible for the inception and operations of the product management functions, analyzing and deploying new user optimization and retention tools, enhancing the user experience across all product lines and providing effective financial management of the Company's marketing budget and all of MediaNet Group's technology assets.  In this new position, Mr. Andersen will also be responsible for enhancing the value proposition for DubLi's primary subscription product, the V.I.P. Member Package as well as all functional aspects of DubLi's online properties.

Prior to joining Groupon GmbH in February 2011, Mr. Andersen was with BlackRock in London, where he was an analyst for Nordic Institutional Sales.  Mr. Andersen maintains his role as an Advisory Board Member with CPH Advisors, a firm he Co-Founded in 2009 that provides strategic advice in the field of Responsible Investing.  He began his professional career at Kirstein Finance in Copenhagen as Assistant Portfolio Manager.  Mr. Andersen is a graduate of Copenhagen Business School with a Masters of Arts in Mathematics and Economics.  He is an elite golfer and a Member of Mensa, the elite society for individuals with high IQ's.  Mr. Andersen will relocate to the Company's office in Berlin, Germany.

Troels Andersen stated, "I am excited about participating in the future of a dynamic company, such as DubLi.  Michael has put together a company with tremendous opportunities and I look forward to contributing to its future success by applying valuable financial, analytical and optimization tools. DubLi's business model is well positioned to take advantage of the world's global shopping arena and I look forward to enhancing Michael's vision and executing new strategies for growth."

Michael Hansen, President and Chief Executive Officer, stated, "We are thrilled to have attracted an executive of Troels' caliber to DubLi.  His analytical and problem solving expertise will be invaluable to us as we further execute on our growth strategy.  His experience in building and managing successful sales teams will undoubtedly prove beneficial to DubLi Network as well as his knowledge of developing international businesses, particularly in the Asian markets.

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
stefanie@medianetgroup.com
561-417-1500

SOURCE MediaNet Group Technologies, Inc.