updated 11/9/2010 9:16:06 AM ET 2010-11-09T14:16:06

SAN FRANCISCO, Nov. 9, 2010 (GLOBE NEWSWIRE) -- Mimvi, Inc. (OTCBB:MIMV), the world's largest pure-play search, discovery and recommendation engine for mobile apps (or applications), has announced the appointment of Daiwa Quantum Capital to its Board of Advisors.

Kasian Franks, Mimvi's Founder and CEO, elaborated on the appointment to the Company's Advisory Board, "This relationship will further strengthen our Board of Advisors. Daiwa Quantum Capital and its Chairman, Nobuyuki Idei, the former CEO and Chairman of Sony, will provide Mimvi with tremendous strategic and investment expertise and reach. Their track record of success speaks for itself. We are delighted they have decided to join our team."

Daiwa Quantum Capital — http://www.dqcap.com/en/ — seeks growth capital opportunities in Asia with an emphasis on applying Japanese resources to its investments. It also provides a leading venue for the exchange of ideas among the CEOs of both Asian and Western companies.

About Mimvi

Headquartered in San Francisco, California, Mimvi, Inc. (OTCBB:MIMV) is a pure-play search engine and recommendation technology company. It enables the search and discovery of mobile applications, mobile content and mobile products across multiple devices and platforms, including: the iPhone, Google Android, Blackberry, Windows, Samsung and Nokia devices. Mimvi´s technology is based on (patent pending) proprietary search, recommendation and personalization algorithms. For more information, please visit www.mimvi.com

Safe Harbor Statement

This Press Release may contain certain forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Mimvi has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect Mimvi's current beliefs and are based on information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause Mimvi's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. Mimvi undertakes no obligation to update or provide advice in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.

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