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PlaySpan Named Winner Of Red Herring Top 100 North America 2008

SANTA CLARA, Calif. - May 27, 2008

PlaySpan, the gaming industry’s first publisher sponsored in-game commerce network has been named a Red Herring Top 100 winner, an award given to the most innovative private technology companies in North America.

The Red Herring editorial board diligently evaluated more than 800 applicants from North America’s entrepreneurial scene, narrowing the field to a mere 100 winners. Nominees were evaluated on quantitative and qualitative criteria including financial performance, technology innovation, quality of management, and execution of strategy.

"Having received more than 800 submissions, it is clear that we are witnessing a new outburst of creativity," said Joel Dreyfuss, Editor-in-Chief of Red Herring. "With venture capital flowing again, it’s exciting to see technology innovators and business investors collaborate to create disruptive technologies. The Red Herring 100 North America companies are impressive up-and-comers, and definitely the ones to watch."

"We are honored to receive this award and to be amongst the most inventive companies in North America," said Karl Mehta, CEO of PlaySpan. "The Red Herring editorial board has a long history of distinctly recognizing market leading companies and our inclusion in the 2008 Top 100 is very gratifying."

"The PlaySpan team has shown great foresight in recognizing the industry transition from retail and subscription business models to microtransaction-based economies for monetization," said Shawn Carolan, Managing Director of Menlo Ventures. "It is wonderful to see both customers and the press recognize their position as the preeminent platform partner to help content providers thrive in this new paradigm."

About PlaySpan Inc.

PlaySpan is game industry's first publisher-sponsored in-game commerce network. PlaySpan's patent-pending in-game search, commerce and micropayment technologies enable game publishers and developers to generate new revenues, acquire new users and extend the loyalty of existing users. Leading game providers and virtual world publishers have selected PlaySpan as their official marketplace for virtual goods commerce. PlaySpan is based in Silicon Valley with offices in Mumbai, Seoul and Shanghai. Investors include Easton Capital, Menlo Ventures, South Korea based STIC and Hong Kong based Novel TMT Ventures.

About Red Herring

Red Herring is a global media company which unites the world’s best high technology innovators, venture investors and business decision makers in a variety of forums: a leading innovation magazine, an online daily technology news service, technology newsletters and major events for technology leaders around the globe. Red Herring provides an insider’s access to the global innovation economy, featuring unparalleled insights on the emerging technologies driving the economy. More information about Red Herring is available on the Internet at www.redherring.com.

Interested Publishers or Developers can send inquiries to: publisher@playspan.com

Ben Karl, Odyssey Public Relations

(415) 955-8531

benjamin@odysseylabs.com

Games Press

Games Press is the leading online resource for games journalists. Used daily by magazines, newspapers, TV, radio, online media and retailers worldwide, it offers a vast, constantly updated archive of press releases and assets, and is the simplest and most cost-effective way for PR professionals to reach the widest possible audience. Registration for the site and the Games Press email digest is available, to the trade only, at www.gamespress.com