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MGT Capital Investments Reports Third Quarter 2008 Financial Results and Provides Update on Recent Developments
Date:11/10/2008

NEW YORK, Nov. 10 /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 third quarter ended September 30, 2008, and provided an update on strategic milestones.

Tim Paterson-Brown, MGT Chairman and CEO, stated, "During the third quarter of 2008 Medicsight continues to make progress towards submitting our 510(k) application to the U.S. Food and Drug Administration for our ColonCAD technology and also with our MHLW application in Japan. As the largest addressable market for our ColonCAD technology, regulatory approval in the U.S. will be a significant milestone for the Company."

In September 2008, results of the U.S National Computerized Tomography (CT) Colonography Trial (ACRIN 6664) were published in the New England Journal of Medicine. The study data from more than 2,500 patients shows CT colonography screening identified 90% of patients with colonic polyps or cancers of 10mm and larger. These results support CT colonography being increasingly adopted as a routine examination in screening for colorectal cancer and will ultimately increase the opportunity for widespread utilization of Colon CAD.

As of September 30, 2008, Medicsight's ColonCAD technology has received regulatory approval in China, the European Union, Canada and Brazil.

Financial Results for the quarter ended September 30, 2008

For the three months ended September 30, 2008 our revenues from operations were $120,000, compared to $12,000 for the quarter ended September 30, 2007. Total operating expenses for the quarter ended September 30, 2008 were $6.4 million, compared to total operating ex
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SOURCE MGT Capital Investments, Inc.
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