NeuMedia Inc. Appoints Peter Adderton to Advisory Board

LOS ANGELES-- NeuMedia, Inc. (OTC Bulletin Board: MNDL) announced today that it has appointed Peter Adderton to its newly established Advisory Board.

Mr. Adderton is a leading digital media executive who has been the driving force behind two of the most successful youth brands ever established in the mobile industry, including Boost Mobile and Amp'd Mobile. He is currently Chairman and CEO of Agency 3.0, originally set up as a joint venture with the William Morris Agency. In addition to helming the agency, Mr. Adderton leads the company's practice for mobile and wireless clients. "Peter's unique experience as a digital technology and marketing innovator will be invaluable to NeuMedia as we continue to leverage our digital platforms, content relationships, and proprietary technologies," stated Robert Ellin, Co-Chairman of NeuMedia, Inc.

Before Agency 3.0, Adderton founded Skycrest Ventures LLC, a venture investment firm focusing on mobile and digital media, investing in companies like Break.com, Swype, and China's Mobile Search engine MInfo. In 2004, Adderton founded Amp'd Mobile, creating the first integrated mobile entertainment company for youth, young professionals and early adopters. Amp'd Mobile offered voice and 3G data services including wireless broadband, over 25 streaming linear TV channels, over 50 Video-on-Demand brand channels, Amp'd-produced original content, a one-million song music library, and over-the-air downloadable applications through its award-winning Amp'd Live entertainment portal. In 2000, Adderton founded and created the highly successful youth wireless brand Boost Mobile, which became one of the fastest growing wireless brands in its category with annual revenues over $500M and over five million subscribers. Prior to founding Boost Mobile, Adderton also founded Promotional Partners World Wide (PPW) and expanded it to become one of the largest and most successful fully integrated marketing and promotions agencies in the world.

About NeuMedia, Inc.:

Managed by leading media and technology industry executives, the Company's mission is to build a unique combination of new media distribution and content companies through acquisitions with domestic and foreign businesses with strong management teams and historical financial performance. Through its wholly-owned subsidiary Twistbox Entertainment, Inc., the Company is a leading global producer and publisher of mobile entertainment. Twistbox has exclusive licenses with industry-leading brands, direct distribution with more than 125 wireless operators in over 45 countries and provides an extensive portfolio of award-winning games, WAP sites and mobile TV channels. For more information, please visit www.mandalaymediainc.com.

Safe Harbor: This press release contains forward-looking statements about the Company within the meaning of the Private Securities Litigation Reform Act of 1995. Statements including words such as "estimate", "expect", "anticipate" or "believe" and statements in the future tense are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause actual events or actual future results to differ materially from the expectations set forth in the forward-looking statements. Some of the factors which could cause the Company's results to differ materially from the expectations include the following: consumer demand for the Company's products; consumer spending trends; fluctuations in the currencies of the countries in which the Company operates against the US dollar; timely development and release of the Company's products; competition in the industry; the Company's ability to manage expenses; the Company's ability to manage and sufficiently integrate acquisitions of other companies; adverse changes in the securities markets; and other factors described in our filings with the SEC, including our Annual Report on Form 10-K for the fiscal year ended March 31, 2009. The Company does not undertake, and specifically disclaim any obligation, to release publicly the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.


    Source: NeuMedia Inc.

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