BlueGem and MPS Venture are the new controlling shareholders of Neomobile

Rome, September 17th, 2009 – Neomobile welcomes BlueGem as new key shareholder and announces an ambitious Mobile Marketing initiative.

More information available in the press release available below.

PRESS RELEASE

BlueGem and MPS Venture are the new controlling shareholders of Neomobile

Neomobile welcomes BlueGem as new key shareholder and announces an ambitious Mobile Marketing initiative

Rome – September 17th, 2009 –  Neomobile SpA (“Neomobile”), the leading Italian mobile entertainment group, BlueGem L.P. (“BlueGem”), the UK-based private equity fund and MPS Venture 2, the Italian closed-end Fund managed by MPS Venture SGR SpA, announced today the closing of a transaction that makes BlueGem a key shareholder of Neomobile.

BlueGem has a capital commitment of €205 million and was formed by ex-Merrill Lynch professionals to make private equity investments in mid-market companies mainly in the UK and in Italy.

MPS Venture SGR is a management company under the control of the Montepaschi Group, which manages 6 private equity fund with a capital commitment of € 400 million since inception.

Neomobile has become one of the global leaders in the mobile entertainment industry. Operating in a market worth €50bn globally in 2009 and forecasted to grow up to €65bn by 2011, the Company has offices in 15 countries throughout the Mediterranean region, Asia and Latin America and is among the most recognized and competitive players in the fastest growing segment of the market known as D2C (direct to consumers).

BlueGem selected Neomobile for its track record as a fast growing company (with compound revenue growth of >50% in the last three years), having become in just a few years the n°1 D2C player in Italy and among the top players in Spain, Turkey and Brazil. Recently the company acquired the Spanish group Arena Mobile to expand its geographic and business footprint. Neomobile is a valued partner of leading mobile operators around the world such as Vodafone, Telefonica, Telecom Italia, America Movil ,Turkcell among others, and in 2008 was able to generate over €80m gross revenue in partnership with operators.

MPS Venture 2, the Italian fund which became a shareholder in 2008, decided to increase significantly its investment in Neomobile and thus confirming its commitment and role as a key shareholder and its confidence in the management team, with the purpose of supporting the further development of the company.

The new shareholders base will strongly support Neomobile in the launch of an ambitious growth plan in the emerging Mobile Marketing industry. Mobile represents the highest growth segment in advertising, still small today but expected to reach a market size of $20bn by 2011. Neomobile already has years of experience and expertise in this market and will be launching a dedicated new brand and business unit.

BlueGem and MPS Venture 2 have replaced Teleunit SpA, the previous controlling shareholder which supported Neomobile’s start-up and its first successful years.

The management team are also significant shareholders, thanks to a Stock Option plan aimed to further reward the loyalty and the commitment towards the Company of all key managers.

Commenting on the transaction, Gianluca D’Agostino, Neomobile CEO, said: “I strongly believe that our market requires vision and speed in execution. I’m very proud that over the past 12 months we have achieved major goals in our business while also completing two key deals with leading private equity funds who have demonstrated that they share our vision and strategy. I am very pleased to welcome BlueGem to our Board, and I am sure that with them and their network of contacts we will boost our growth and improve the way we lead the company to an exciting future”

Marco Capello, BlueGem Founder and Managing Partner added: “BlueGem has great confidence in the mobile entertainment industry’s growth potential. We believe that in Neomobile we are backing one of the strongest teams of professionals in the industry, the team which elevated Neomobile to leadership status in Italy, one of the largest and 2 most advanced D2C markets in the world. We are therefore very keen in supporting management’s strategy of continued growth in their global presence and the launch of a pioneering mobile marketing services unit”

Marco Canale, Deputy General Manager of MPS Venture SGR declared: “MPS Venture since the previous investment in the company in 2008 has been appreciating the quality of the management team. We have increased the stake held by our major fund, MPS Venture 2, because we believe that the new shareholder base will better provide Neomobile with the support needed to develop both internationally and in new segments of the rapidly evolving market of mobile contents”.

About Neomobile

Neomobile is a global mobile entertainment company, active today in 15 markets with a compound potential reach of 1,5bn mobile lines.

Thanks to his 200 professionals with a unique expertise in mobile marketing and technology, the Company designs, develops, markets and distributes digital content and interactive services for mobile users in partnership with Mobile Network Operators around the world. Active in the market since 2004, Neomobile has been focused on direct-to-consumer (D2C) mobile content with growing success, leading the Company to become the N. 1 Player in Italy and among the top players in Spain, Turkey and Brazil.

Neomobile Group is also a leader in the B2B segment, offering content and technology solutions to Network Operators and Media, thanks to the acquisition in 2008 of the Spanish company Arena Mobile.

Neomobile is headquartered in Rome and has offices in Barcelona, Madrid, Lisbon, Paris, London, Istanbul, Casablanca, Mumbai, Dhaka, Shanghai, Tokyo, São Paulo, Mexico City and Miami.

Neomobile is an active member of the Mobile Entertainment Forum (MEF) and Mobile Marketing Association (MMA) and is a finalist in the “Best D2C Company” category of the Mobile Entertainment Awards 2009.

For more information: www.neomobilegroup.com; media.relations@neomobilegroup.com

About BlueGem

BlueGem L.P. is a private equity fund with a capital commitment of € 205 m formed by ex-Merrill Lynch professionals to make private equity investments in mid-market companies in UK and in Italy. BlueGem’s investment philosophy is founded on the belief that in the long term, value is created through the association of disciplined investors with quality companies and through a real partnership between shareholders and management. BlueGem has created a prestigious Advisory Board that works very closely with the investment team and that includes Andrea Agnelli, Massimiliano Cagliero, Giorgio Girondi, Mario Greco, Rocco Sabelli, Enrico Vitali and Bob Wigley.

For more information: www.bluegemcp.com

About MPSVenture

Mps Venture SGR, company of the Montepaschi Group, operates since 2003 in the management of closed-end investment funds for the Italian domestic territory. At present MPS Venture, leader in Italy for the number of managed funds, manages 6 private equity funds for a total commitment of Euro 400 million.

MPS Venture SGR invests in medium size companies operating in Italy in the industrial, commercial and service industry sectors providing professional support throughout investment development projects.

Up today MPS Venture has made 38 investments in Italy and 15 divestments.

For more information on MPS Venture, please visit: www.mpsventure.it