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Greystripe Secures Funding For Further Development Of Gamejump.Com, The World's First Ad-Supported Mobile Games Distribution Portal

Top VC's - Monitor Ventures, Incubic Venture Capital, W.S. Investments - Deliver Series A Round of Funding

(SAN FRANCISCO) - Oct. 12, 2006 - Greystripe, Inc., announced today that it has raised a significant capital investment to further expand the world's first ad-supported mobile games distribution portal, GameJump.com, with a Series A round of funding from leading venture capital firms.

Monitor Ventures, Incubic Venture Capital and W.S. Investments have partnered with Greystripe to expand the company's mobile in-game advertising network and deliver free ad-sponsored games to consumers worldwide. Based on Greystripe's strong success since launching its network earlier this year, investors view the company as trailblazers in a new market with the ability to revolutionize the mobile content space.

"Our investors share our vision of bringing free mobile games to consumers everywhere, and we're honored to have them as partners in our rapid growth and expansion," said Michael Chang, founder and CEO of Greystripe.

Greystripe will use the new funds to increase the worldwide reach of its ad network via the GameJump.com portal and other distribution channels currently in development. The company will continue to hire key personnel in line with this growth.

For more information about the investors please visit:

o Monitor Ventures http://www.monitorventures.com

o Incubic Venture Capital http://www.incubic.com

o W.S. Investments http://www.wsgr.com

About Greystripe

Greystripe is the world's first ad-supported mobile game and applications distributor. Greystripe's AdWRAP system enables publishers to gain advertising revenue by serving ads through their games, while advertisers reach a new mobile audience and consumers download great games for free. The AdWRAP system currently serves ads into 160 game titles from 23 publishers supporting over 800 handset models. Greystripe reaches millions of mobile game players through its online portal GameJump.com, through the mobile web (gjmp.tw) and through its AdWRAP Catalog Partner Program. Greystripe was recently named one of FierceGameBiz's Fierce 15, an award which recognizes companies that are leaders and innovators in the projected by 2009, $10.5 billion mobile game industry according to Juniper Research. Visit Greystripe at http://www.greystripe.com.

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