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Media Exchange Group, Inc. Announces 5000 Ft., Inc. of Nevada and Media Exchange Group Have Executed a Letter of Intent for the

^{Published on 2010-08-09 12:56:05 - Market Wire}
 

LOS GATOS, Calif.--([ BUSINESS WIRE ])--Rachel Baer, Secretary and General Counsel for Media Exchange Group, Inc. (f/k/a China Wireless Communications, Inc.) (Pink Sheets:CWLC) announced today the signing of a non-binding letter of intent for the acquisition of 5000 Ft., Inc. by Media Exchange Group Inc. Both companies have agreed to work, through counsel, towards the execution of a definitive agreement.

In the event of acquisition, the combined companies would retain the name 5000 Ft. as a wholly owned subsidiary. The combined companies are developing unique mobile applications, including mobile product solutions for the wireless gaming industry, which are currently being utilized by national and global gaming companies.

5000 Ft., Inc. is a high-quality software developer, based in Reno, Nevada, specializing in interactive entertainment products. The company has a strong history in video game production for over 10 years and has specialized in casino gaming products, as an independent studio, for the past 5 years. Currently, 5000 Ft. is making products with and for Cantor Gaming, IGT and Bally Gaming. [ www.5000ft.com ]

Tim Page, Founder, President & CTO of 5000 Ft., Inc. brings over 20 years experience in video game production, and holds a deep technical and programming background, having created over 100 top-class products on multiple formats. Mr. Page is a former Research and Design Studio Director with Philips, and former External Development Director with Virgin Interactive.

Ian Grieve, CEO of 5000 Ft, Inc. has over 20 years experience in the production and commercial exploitation of video games. Mr. Grieve is a former Director with Sony Corporation and part of the original PlayStation launch team. As well, he is a former Commercial Director with Warthog Games PLC, helping to take that company public on the London Stock Exchange. Mr. Grieve joined 5000 Ft., Inc. in 2003, and has been, and continues to be, instrumental in transitioning the company from video games to gaming products.

Forward Looking Statements

Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the company's future expectations, including future revenues and earnings, and all other forward- looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from the expected results.

For further information, please contact: [ info@mediaexchangegroup.com ], or Suzanne Herrmann, Investor Relations at +1-310.924.0014. The Companya™s web site is [ www.mediaexchangegroup.com ].