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MGT Capital Investments Reports First Quarter 2008 Financial Results and Provides Update on Recent Developments
Date:5/12/2008

NEW YORK, May 12 /PRNewswire-FirstCall/ -- MGT Capital Investments, Inc. (AMEX: MGT), a technology holding company focused on the Healthcare Information Technology ("HCIT") sector, today reported financial results for the first quarter ended March 31, 2008, and provided an update on strategic milestones.

Tim Paterson-Brown, MGT Chairman and CEO, stated, "We anticipate 2008 will be a significant turning point for our subsidiaries, Medicsight and Medicexchange. In the first quarter, Medicsight increased the reach of its technology through key strategic partnerships including Toshiba. We believe that the value of our subsidiaries' businesses and underlying technologies are not reflected in our share price. As such, our Board authorized a buyback of up to 1 million shares of MGT stock which is now largely complete, and we have completed the repurchase of a block of 5.35 million restricted shares.

"In the coming months, we intend to increase our investor outreach in order to raise awareness of the value we believe our shares currently offer and potential value we are looking to build for our shareholders.

"We recently announced approval from the Chinese State Food and Drug Administration ("SFDA") for our MedicRead Colon workstation, and we plan to launch this workstation via our extensive Chinese dealer network. Our CAD software has been validated against an extremely diverse geographic, gold standard read database and in numerous clinical trials over the past several years. Between this and our patents, we believe there is a significant barrier to entry for competitors, giving us an advantage within our space, and confidence in our gaining widespread approval."

Recent Developments

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SOURCE MGT Capital Investments, Inc.
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