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MGT Capital Investments Reports Second Quarter 2008 Financial Results and Provides Update on Recent Developments
Date:8/8/2008

NEW YORK, Aug. 8 /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 second quarter ended June 30, 2008, and provided an update on strategic milestones.

Tim Paterson-Brown, MGT Chairman and CEO, stated, "Our results through the first half of 2008 reflect continued progress in the development of our ColonCAD technology, as we work towards gaining regulatory approval in several large markets later this year, including the U.S. and Japan. During the second quarter we successfully added China to the list of markets where we have received regulatory approval, other areas where our ColonCAD technology has been approved include the European Union, Canada and Brazil. While we are currently selling in each of these markets, we anticipate measurable revenues to start for our ColonCAD software once we obtain approval in either the U.S. or Japan. As we get closer to obtaining regulatory approval in these key markets we have built up our international sales force, which has resulted in higher selling, general and administrative costs compared to last year."

Mr. Paterson-Brown concluded, "I am pleased to report that the company completed the repurchase of nearly all of the 6,350,000 shares of common stock authorized by the Board of Directors in the first quarter of 2008. We believe our current market capitalization does not reflect the true value of our revolutionary technology and have continued raising awareness of our Company to the investment community through a proactive investor relations campaign. The next six months should prove to be a very exciting time for our Company."

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SOURCE MGT Capital Investments, Inc.
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