Huge Group - Press Release


Huge Group - Press Release

By Huge Group - Monday, May 12, 2008

PRESS RELEASE
12 May 2008


Eyeballs Mobile Advertising gets Huge Backing

The Huge Group has announced that its acquisition of 25% of Eyeballs Mobile Advertising has been completed. The Huge Group first announced the deal on the 21st March and is pleased with the short timeframe taken to conclude the acquisition. The Huge Group has not disclosed the value of the deal, but has confirmed that it has an option to acquire another 15% within the next 24 months.

Eyeballs Mobile Advertising delivers rich media advertising to cellular 'smart phones' using specialised and proprietary technology developed in South Africa over the last two years. Given the market penetration of cellular phones, this is an industry that many market watchers feel promises huge growth compared to traditional mediums of advertising.

"Advertising on 'smart phones' and other hi-tech mobile devices is poised to take a giant leap," says Larry Katz, MD of Eyeballs Mobile. "Advertisers and Ad Agencies are seeking solutions that are rich in user experience and offer measurability and market segmentation. The Eyeballs Mobile application is strictly consent-based (opt-in) and delivers advertising seamlessly to the user, in an unobtrusive and non-invasive manner. The ads are relevant and offer the user a tangible benefit. Going mobile is regarded by many as the future of advertising - advocates say it is potentially the most effective form of advertising yet!" he concludes.

Anton Potgieter, CEO of the Huge Group, adds "Media is a logical step for us, and is perfectly in line with international trends as the next evolution of technology-based communications. We are very excited by the complementary nature of our two companies and the like-minded vision and energy shared by the two management teams. Huge shareholders will be able to clearly see the value unlocked by this transaction in the coming months."

This is the second transaction that the Huge Group has completed since listing on the JSE's AltX last year in August. The group's maiden results are expected to be released on 27 May 2008.


About Eyeballs Mobile Advertising:
Eyeballs Mobile Advertising is a technology based start-up business based in Cape Town. Eyeballs Mobile Advertising has developed a unique media platform that delivers rich advertising content to smart mobile handsets, providing an extremely attractive alternative to SMS and MMS advertising often seen as spam. The technology developed by Eyeballs Mobile currently has intellectual property protection.


About the Huge Group Ltd:
The Huge Group is a telecommunications holding company, which listed on the AltX exchange of the JSE Limited on 8th August 2007. The Huge Group offering includes:
  • Wholly owned subsidiary Huge Telecom, formed by the merger of wholly owned subsidiaries TelePassport and Centracell: being a company that delivers managed telecommunications services or MTS;
  • The impending acquisition of 59% of iTalk Cellular: being a consumer offering that delivers GSM handsets, broadband and telemetry;
  • Associate company TelePassport Communications: being corporate managed telecommunications services provided in Namibia;
  • And most recently Eyeballs Mobile Advertising, a technology based start-up business based in Cape Town who have a developed a proprietary media platform that delivers rich advertising content to smart mobile handsets.
The Huge Group trades under the share code HUG - more information can be found at www.hugegroup.com.


Further Information:
Anton Potgieter
Chief Executive Officer
011-603-6000