updated 12/2/2010 9:46:08 AM ET 2010-12-02T14:46:08

SAN FRANCISCO, Dec. 2, 2010 (GLOBE NEWSWIRE) -- Mimvi, Inc. (OTCBB:MIMV), the world's largest pure-play search, discovery and recommendation engine for finding mobile apps (or applications), has announced the launch of a specialized search and discovery engine for health-related mobile apps. The site, which is located at http://www.mimvi.com/health , provides a unique platform for companies and consumers worldwide. It is available for license to any health-related organization and other strategic partners.

Industry experts are forecasting a revolution in health-related mobile apps. A recent study by the research2guidance group predicts that the mobile healthcare market will grow exponentially to reach over 500 million mobile users, or 30 percent of an estimated 1.4 billion smartphone subscribers worldwide by 2015. Bill Gates recently validated this opportunity at the mHealth Summit, a conference for companies involved in mobile technology and health. Mr. Gates was quoted as saying, "Diagnosis of malaria and TB will likely be the first ones you can assign a number to and say without this mobile phone app these people would have died."

Kasian Franks, Mimvi's Founder and CEO, reinforced these insights, "The benefits that mobile technologies and, specifically, apps bring to healthcare are tremendous. This "megatrend" will be driven by both healthcare professionals and consumers alike. The developments we have seen to date, encompassing everything from diabetes and cholesterol management to finding the nearest ER, merely represent the tip of the iceberg. In the future, we will see all kinds of health and wellness-related applications that will save millions of lives and millions of dollars—monies which can be funneled into future research and development, as opposed to feeding a bureaucratic machine." Franks continued, "The technology that lives inside mobile devices provides so many opportunities for future innovation in the healthcare world. Think about the possibilities that cameras, environmental sensors and GPS technologies can create in saving lives and helping people proactively manage their health."

Mimvi's proprietary search and recommendation engines provide more results with greater relevance across multiple platforms than any other player in the world today—a competitive advantage that Franks went on to emphasize in the context of health, "Mimvi Health is the only specialized search and recommendation engine for healthcare in the world today. This puts us in a unique position to maximize the business opportunities for all key stakeholders: advertisers, healthcare providers and developers. This sales funnel is further widened by our proprietary Amazon-like recommendation system which provides truly meaningful suggestions—a critical component in our value proposition and the mobile apps market as a whole."

The revenue opportunities in the mobile industry are significant. A new report from BIA/Kelsey shows that U.S. mobile advertising revenues will grow from $491 million in 2009 to $2.9 billion in 2014. Mr. Franks spoke further about Mimvi's revenue model, "Our revenue strategy will include different approaches, from proven revenue models such as sponsored search results to proprietary revenue –generating technologies we are developing which will facilitate financial transactions inside the apps themselves. We will share more on this front in due course."

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. Mimvi´s technology is based on (patent pending) proprietary search and "intelligent" recommendation algorithms. For more information, please visit: http:// 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.

CONTACT:  Emerging Growth Research, LLP
          Joe Noel
          (925) 922-2560

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