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

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Financial Results for the quarter ended June 30, 2008

For the three months ended June 30, 2008 our revenues from operations were $85,000, compared to $nil for June 30, 2007. Total operating expenses for the quarter ended June 30, 2008 were $8.6 million, compared to total operating expenses of $5.1 million in the comparable period for 2007.

For the six months ended June 30, 2008 our revenues from operations were $137,000, compared to $nil for June 30, 2007. Total operating expenses for the six months ended June 30, 2008 were $14.7 million, compared to total operating expenses of $9.1 million in the comparable period for 2007.

For the quarter ended June 30, 2008, net loss was $5.1 million, or $0.14 per share, compared to a net loss of $4.1 million, or $0.11 per share, for the same period in 2007. Net loss per share for the quarter ended June 30, 2008 was based on weighted average of 35.5 million shares outstanding, compared to a weighted average of 38.9 million shares outstanding for the comparable period in 2007.

For the six months ended June 30, 2008, net loss was $8.9 million, or $0.23 per share, compared to a net loss of $7.3 million, or $0.19 per share, for the same period in 2007. Net loss per share for the six months ended June 30, 2008 was based on weighted average of 38.0 million shares outstanding, compared to a weighted average of 38.9 million shares outstanding for the comparable period in 2007.

As of June 30, 2008, cash, cash equivalents and marketable securities were $60.6 million compared to $94.6 million at June 30, 2007. The decrease in cash balance is primarily attributable to the Company's repurchase of its common stock and the purchase of shares in Medicsight.

About MGT Capital Investments, Inc.

MGT Capital Investments, Inc is a technology holding company that focuses on investments in the global healthcare information technology market. The Company has two subsidiaries, Medicsight and Medi
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SOURCE MGT Capital Investments, Inc.
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