Mobilemode Acquisition

Mobile Streams plc
14 July 2006


       Mobile Streams acquires Mobilemode to extend Asia Pacific business

Mobile Streams Plc, ('Mobile Streams' or 'the Company') the global mobile media
specialist, is pleased to announce it has reached agreement to acquire the
mobile entertainment group Mobilemode Limited ('Mobilemode'). Founded in 1999,
Mobilemode delivers mobile entertainment content and services to mobile phone
operators and portals in the Asia Pacific region.

The acquisition of Mobilemode will give Mobile Streams a comprehensive position
in Asia Pacific, with a particularly strong focus on Australia, New Zealand,
Malaysia, Singapore and Hong Kong. In addition, the acquisition will offer
Mobile Streams the immediate benefit of Mobilemode's experienced management
team, and their strong relationships with portals and mobile network operators.

Mobilemode's key network operator customers are SingTel-Optus, Virgin Mobile and
Hutchison 3G in Australia, SingTel and M1 in Singapore and Maxis and Astro in
Malaysia. Mobilemode also has strong distribution relationships with eBay,
Electronic Arts, Nokia and Discovery Networks, an affiliate of Liberty Media,
Mobile Streams' strategic investor.

Mobilemode's management team has worked in Asia for many years and will be
invaluable in supplementing Mobile Streams' existing business in the region. The
two founding members of Mobilemode, Jarno Salmivuori, CEO and Norma Salmivuori,
Vice President Business Development, will assume management positions within
Mobile Streams' Asia Pacific business unit.

For the year to 31 March 2006, Mobilemode recorded turnover of €1.1m and profit
before tax of approximately €48,000. Net assets acquired will be approximately
€273,000. The transaction is expected to be earnings neutral in the year to 31
December 2006 and earnings enhancing from the first full year following
completion.

The consideration for the acquisition will be satisfied through the payment of
€1m in cash and the issue of 1,537,736 ordinary shares in the Company. A further
deferred consideration may be payable in cash or shares (at the discretion of
Mobile Streams) based on the achievement of 2007 profitability targets. The
maximum total consideration of the deal is €8m. The value of any shares issued
to satisfy any deferred consideration will be based on the average share price
of the Company over the 30 days prior to payment. Subject to the satisfaction of
conditions precedent, the transaction is expected to complete in August 2006.

Commenting on today's announcement, Simon Buckingham, CEO of Mobile Streams
said: 'This acquisition represents a key milestone in the development of Mobile
Streams' global footprint. Mobilemode will provide us with an excellent stepping
stone into the advanced markets of Australia, New Zealand, Hong Kong and
Singapore whilst at the same time providing a platform for growth in the
emerging markets of Taiwan, Indonesia and the Philippines.'

Jarno Salmivuori, CEO of Mobilemode said: 'Mobilemode has established strong
relationships and operations in Asia which we look forward to developing and
growing further through the combination with Mobile Streams.'

Enquiries

Mobile Streams
Simon Buckingham, Chief Executive Officer
Jitesh Sodha, Chief Financial Officer

Mobilemode
Jarno Salmivuori, Chief Executive Officer
Norma Salmivuori, Vice President, Business Development          [phone]

Brunswick Group
Laura Cummings/Dominic McMullan                                 [phone]



About Mobile Streams

Mobile Streams is a leading provider of music, comedy, sport and entertainment
content on mobile devices, supplied to mobile phone networks globally including
Vodafone and 3 in the UK, America Movil, Movistar & TIM in Latin America, Fido &
Rogers in Canada and Dobson in the US.

The Company creates, licenses and delivers quality content to Mobile Network
Operators (MNOs) and consumers in the form of ringtones, graphics, video clips
and other products. It has developed relationships with both content owners and
MNOs which enable it to act as an intermediary, providing an end-to-end service
encompassing a broad range of elements from content licensing to content
production, account management and channel management.

'Vuesia' is Mobile Streams' full service enterprise mobile media management
solution. 'Vuesia' facilitates content ingestion, management, delivery, billing
and reporting.

Mobile Streams has subsidiaries in the US, Argentina, Brazil, Mexico, Chile and
Colombia and has approximately 100 employees.

For more information please go to www.mobilestreams.com

About Mobilemode

Mobilemode is a mobile entertainment and information content aggregator serving
the needs of mobile phone operators, portals and brands that need 'mobilisation'
services in the Asia Pacific region.

Mobilemode distributes the latest mobile entertainment, lifestyle and sport
content and applications from the most advanced mobile markets around the world.

Currently Mobilemode has offices in Sydney (HQ), Hong Kong and Singapore.




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