Barclay Friesen, Chris Taylor and Raul Varela Join Rapidly Growing Financial Reporting Software Company

In an effort to sustain and support rapid growth, Rivet Software brings in three new directors.

Over the next 18 months, the Securities Exchange Commission, under Regulation S-T, has mandated that all publicly traded companies provide electronic tags on all financial disclosure filed with the organization. In order to remain in compliance and efficiently make their EDGAR filings more discoverable, organizations will need to adopt solutions that automatically apply detailed tags. As such, Rivet Software, a leading developer of financial reporting, XBRL based software is poised for exponential growth.

“Anticipation of the market need means that we must scale our staff and quickly,” said Patrick Quinlan, president of Rivet Software. “As the company that literally wrote the book on XBRL, we insisted on having the highest level of people available to help spur growth and support our growing client base.”

Barclay Friesen comes to Rivet after building a successful sales career within the telecom and manufacturing world. As Director of Sales, he is responsible for providing leadership, business development strategy and management of the sales department within several vertical industries, including mutual funds, corporate compliance, and financial reporting.

Rivet is also benefiting from the addition of Raul Varela, CFA. His technical perspective and business acumen offer unique perspective to his role as Director of Mutual Fund Compliance and Reporting. A former project manager, Raul can help customers and prospects navigate the nuances of IT implementation as well as the impact of new technology on the business user. Prior to joining Rivet, he served in various leadership roles at Oppenheimer Funds, Inc., J.D. Edwards and several software companies. He is a graduate of Colorado School of Mines and holds a MBA from the University of Colorado.

Chris Taylor is Rivet’s new Director of Professional Services. He is responsible for growing and managing Rivet’s accounting, legal and consultant client base. Chris brings more than 25 years of financial and international corporate development in consulting, software and manufacturing to Rivet. Chris previously served as a controller, director of finance, and chief financial officer for several public and private companies. He is a graduate of Brigham Young University and holds a MBA, from Boise State University.

Rivet Software has spent more than 100,000 development hours creating the most comprehensive XBRL reporting solution for public and private companies seeking greater financial transparency. Built by accountants for accountants, Rivet is the only software solution deployable across the enterprise that can offer the highest level of taxonomy required by the government.

Based in London, United Kingdom, Mr. Currill will consolidate and lead the continued growth Carta Worldwide is experiencing within the EMEA region.

Previous to joining Carta Worldwide Mr. Currill held senior sales and leadership positions with Cisco Systems, Seagate Technology, Business Objects and Dyadem International with strong international experience working within the EMEA and NA theatres. Prior to working in software Mr. Currill spent just under 10 years working as a trader on the London International Financial Futures Exchange (LIFFE) for SG Warburg, Nomura and Baring Brothers.

Jason Currill, UK MD and GM EMEA “I am delighted to be leading the growth and expansion of Carta Worldwide within the EMEA region. Carta has strong momentum and demand from European customers and partners. I look forward to working driving success with our partners, customers and stakeholders to continue growing the business and our EMEA presence.”

Carta Worldwide was founded specifically to provide new types of payment solutions to consumers, businesses, banks and governments globally – in parallel with worldwide EMV card deployments. Carta is an advanced payment solutions provider managing all aspects of prepaid branded card issuance.

Carta’s MasterCard certified, next generation platform is a vertically integrated, bank grade, multi-lingual, multi-currency, processing platform that supports seamless and secure integration of a card account through the convenience of the consumer’s mobile phone.

Brian Semkiw, CEO Carta Worldwide stated: “Jason brings over 10 years of international sales and management experience to Carta, building and managing operations from the ground up within Europe and North America I am delighted we have a strong experienced leader to continue the Carta Worldwide success story.”

Carta Worldwide is a unique provider of professional services and technology to companies looking to improve their competitiveness, productivity and profitability by enhancing their payment transactional methodologies. Carta Worldwide is a Swiss company with key operations located in London, Toronto, Hong Kong, Miami and Barbados. www.cartaworldwide.com

Commercial Launch to begin in Delhi with a projected target of 500,000 Subscribers

TCM MOBILE has entered into a definitive agreement to license its patented telecommunication technology to an Indian Joint Venture which plans to launch the world’s first commercial Cellular VoIP operating network in India. The new company is a joint venture partnership between GANTON India Private Limited (www.ganton.in) and several Indian and International partners, including an investor group from TCM MOBILE.

The joint venture will commit several million US dollars to deploy and operate the network, and is currently securing substantial credit lines for the purchase of all related equipment. The projected capital expenditure is US $300 million. The network will target service for 500,000 subscribers with capacity to expand into millions of subscribers in other cities as per rollout plans. Mr. Sanjiv Kapoor, currently CEO of GANTON India Private Limited and a veteran telecommunication executive instrumental in launching various technology projects over the years throughout India, has been appointed CEO of the joint venture company.

The total network build-out will be deployed in stages over a 3 year period. It will include 5,000 site locations providing an initial coverage area of a significant portion of Delhi and the National Capital Region of Delhi. This will be followed by category “A” and “B” Indian Cities to ultimately yield an entire pan-India footprint with a targeted subscriber base of 100 million subscribers

“The Indian Market offers an immense opportunity not only for generating revenue for our organization, but also offers significant value additions in terms of image enhancement of the existing service providers,” said Mr. Kapoor. “The launch of our revolutionary network will contribute greatly towards the GDP growth of India, in line with our National Telecom Policy’s key objectives. This forward looking, technically advanced network will help create an international image in the eyes of various investors worldwide for the Indian market,” continued Mr. Kapoor.

GANTON India Private Limited is a subsidiary of GANTON Limited, a multinational technology & investments company with presence in India, UK, Sweden, Switzerland, Romania and Hong Kong, headquartered in New York, with a group net worth in excess of US $500 million dollars.

TCM MOBILE LLC is a US based technology company which has developed a revolutionary, patented Cellular VoIP technology delivering all forms of mobile telecommunication services such as Voice, Data, Video and Location-Based Advertising (”Pop Up” format) and pinpoint location functionality, via one mobile device.

As part of the joint venture, Chinese telecom equipment supplier ZTE Corporation will expand upon its supplier relationship with GANTON and is keen to provide related equipment for the build-out and deployment of the operating network. ZTE Corporation employs approximately 50,000 people worldwide, with revenues exceeding US $8 billion dollars. It has established commercial partnerships with over 500 operators in Asia Pacific, South Asia, North America, Europe, Latin America, Africa and the Commonwealth of Independent States.

The Indian joint venture project hopes to contribute to India’s targeted Cellular subscriber goal of 900 Million by the year 2012, increasing the Indian consumer’s overall confidence in its service providers along the way.

“We are pleased to promote Niccolo to the position of Chief Executive Officer and I am personally highly confident with his selection as my successor,” stated Mr. Nan-Horng Yeh, former CEO of Actions Semiconductor. “Niccolo has been instrumental in the rapid expansion of research and development resources and in driving technological innovation at Actions. We believe that his exceptional knowledge of semiconductor technologies and tenure in the IC business will prove extremely useful for leading Actions through the next phase of growth. Chen has consistently demonstrated an ability to execute and foster success throughout his career and we look forward to the contributions he will make in his expanded role at Actions.”

Chen joined Actions in 2007 as General Manager and was promoted to Chief Strategy Officer earlier this year. In this capacity, Chen has spearheaded the successful development and market penetration of Actions’ second generation SoCs and is leading the innovation of third generation SoCs. Prior to working at Actions, Chen held a number of technical positions at Realtek Semiconductor Corp. from 1992 through 2006, recently serving as Chief Technology Officer and Executive Vice President of Realtek’s China subsidiary, Realsil. As CTO at Realtek, Chen developed a number of industry leading technologies that were instrumental in creating the foundation for Realtek’s success, including the networking transceiver IC, PC audio IC, Wi-Fi SoC and TV/Monitor SoC. Prior to that, Chen worked as the engineer of process technology development department at UMC. Chen received a Bachelor of Science in Electrical Engineering and Master of Science in Electrical Engineering from National Taiwan University.

Nan-Horng Yeh is stepping down from the Chief Executive Officer position to pursue personal interests and will maintain his role as director on the board. Yeh has served as CEO at Actions since 2005.

“On behalf of the Board, I would like to extend our appreciation to Nan for his unprecedented contributions to Actions over the past four years,” commented David Lee, Chairman of Actions’ Board. “Nan has established a strong position for Actions in the PMP market, built an expanded IP portfolio, conducted effective cost reductions, and set up an outstanding R&D team for the next phase of Actions business.”

The appointment of Mr. Pan to the Board of Directors is in conjunction with the resignation of Paul Hsiao, who has served as a director since 2005. Mr. Hsiao resigned to devote more time to other activities. With these changes, the number of members on board of directors remains seven.

Mr. I-Ming (Robin) Pan currently serves as the Chief Executive Officer of Ambiwin Technology Inc. He previously served as Vice President of Marketing at PQ International Co. from 2007 to 2008 and Vice President of Sales at Sinostar Technology Ltd. from 2005 to 2006. Pan also co-founded and served as the President and Chief Operating Officer of GMI Technology Inc. from 1995 to 2005. Pan holds a Bachelor degree in Electrical Engineering from Chung Yuan Christian University in Taiwan.

“We are very pleased to have Robin Pan join our Board of Directors,” stated David Lee, Chairman of Action’s Board. “Mr. Pan brings over 20 years of experience in sales and marketing and channel management for electronic components to Actions. On behalf of the Board, I would also like to extend our appreciation to Paul for his dedication and invaluable contributions to Actions over the last four years.”

Actions Semiconductor is one of China’s leading fabless semiconductor companies that provides mixed-signal and multimedia SoC solutions for portable consumer electronics. Actions Semiconductor products include SoCs, firmware, software, solution development kits, as well as detailed specifications of other required components and the providers of those components. Actions Semiconductor also provides total product and technology solutions that allow customers to quickly introduce new portable consumer electronics to the mass market in a cost effective way. The company is headquartered in Zhuhai, China, with offices in Beijing, Shanghai, and Shenzhen. For more information, please visit the Actions Semiconductor website at http://www.actions-semi.com/.

Mr. Schaaf, a veteran in the mobile entertainment industry, joins Mandalay Media as President from Arcadia Entertainment, Inc. where he served as President and CEO. Ray also served as the former President of Publishing for Glu Mobile where he built and grew the company into one of the top world-wide mobile game publishers.

In connection with Mr. Schaaf’s appointment, Jim Lefkowitz was named Chief Operating Officer of Mandalay Media.

“Ray is a gifted senior manager with seasoned international mobile gaming and content experience. I personally believe he is the right person to help us further grow our entertainment business globally while overseeing our day-to-day operations,” stated Peter Guber, Mandalay Co-Chairman. “I look forward to seeing great leadership and innovation from the new Mandalay Media team.”

Ray Schaaf

Ray Schaaf’s 25 years of digital media experience spans games, content, ecommerce, and mobile industries. He has led and managed companies in North America, Asia, and Europe. Prior to Arcadia, Mr. Schaaf was COO of Navio, a digital content, ecommerce, and promotions solution provider to Fox Interactive Media, Shockwave, Disney, Sony BMG, EMI, and MasterCard.

Prior to Navio, he was President of Publishing at Glu Mobile (previously Sorrent) and President of Intershop, where he oversaw the Americas and APAC operations, managing both operations to profitability. Prior to Intershop, Mr. Schaaf was CEO and President of XMARC, where he launched the first location-based application deployed on a public wireless network. He has also held executive management positions at Veritas Software, NeXT Computers, and Ziff Davis. Mr. Schaaf received his B.S. degree in business from Boston College.

Jim Lefkowitz

Mr. Lefkowitz is a 20 year entertainment industry veteran with a wide range of experience in law, business, finance, film and television. Mr. Lefkowitz joined Mandalay in 2007 from Cantor Fitzgerald, where he was managing director of Cantor Entertainment. Prior to Cantor, Mr. Lefkowitz was an agent for eight years at Creative Artists Agency, a leading talent agency in Hollywood, where he represented clients in connection with film, television, and other media ventures. He began his career as an attorney at the law firm of Manatt, Phelps, and Phillips in Los Angeles. He subsequently worked for six years as a business affairs executive at Walt Disney Studios and Touchstone Pictures. Mr. Lefkowitz is a graduate of the University of Michigan School of Business Administration and Michigan Law School.

Mandalay Media, Inc.

Managed by leading media and technology industry executives, the Company’s mission is to build a unique combination of new media distribution and content companies through acquisitions with domestic and foreign businesses with strong management teams and historical financial performance. Through its wholly-owned subsidiary Twistbox Entertainment, Inc., the Company is a leading global producer and publisher of mobile entertainment. Twistbox has exclusive licenses with industry-leading brands, direct distribution with more than 120 wireless operators in over 45 countries and provides an extensive portfolio of award-winning games, WAP sites and mobile TV channels. Its wholly-owned subsidiary AMV Holding Limited is a European leader in direct-to-consumer mobile Internet content and services.