MGT Capital Investments Reports First Quarter 2008 Financial Results and Provides Update on Recent De...(s Medicsight PLC subsidiary received app...)

the Chinese State Food and Drug Administration ("SFDA") for its

MedicRead Colon workstation. Medicsight will launch this workstation

via a Chinese dealer network which gives the Company access to almost

1000 sales representatives. China is one of the world's fastest

growing medical imaging markets.

-- In April 2008, MGT's Medicsight PLC subsidiary announced a new global

partnership with INFINITT, one of the world's leading medical imaging

and picture archiving and communication systems (PACS) companies.

Combined INFINITT-Medicsight products for the detection of colorectal

cancer will be distributed using INFINITT's global network of offices

in six strategic countries and partners and sales channel

representatives in 20 other countries worldwide. INFINITT is currently

the PACS market leader in South Korea and is experiencing rapid growth

in other major markets.

-- In February 2008, MGT's Board authorized a buyback of up to 1,000,000

shares of MGT stock between February 14, 2008 and December 31, 2008,

and announced in the following month that it had contracted to buy back

an additional 5,349,793 MGT shares. On March 31, 2008, the Company

announced that it had purchased additional shares in its Medicsight PLC

subsidiary through the open market. The Company purchased an

additional 1.0 million shares and now holds 86.0 million shares (55%)

of Medicsight PLC.

Financial Results for the quarter ended March 31, 2008

For the three months ended March 31, 2008 our revenues from operations were $52,000, compared to $0 for March 31, 2007. Revenue for the 2008 period is from the sale of Medicsight software licenses and from Medicexchange's online advertising and offline product revenues.

Total operating expenses for
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