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

penses of $5.0 million in the comparable period for 2007.

For the nine months ended September 30, 2008 our revenues from operations were $257,000 compared to $12,000 for the prior year period of September 30, 2007. Total operating expenses for the nine months ended September 30, 2008 were $21.1 million, compared to total operating expenses of $14.1 million in the comparable period for 2007.

For the quarter ended September 30, 2008, net loss was $1.3 million, or $(0.04) per share, compared to a net loss of $2.5 million, or $(0.06) per share, for the same period in 2007. Net loss per share for the quarter ended September 30, 2008 was based on a weighted average of 32.6 million shares outstanding, compared to a weighted average of 38.9 million shares outstanding for the comparable period in 2007.

For the nine months ended September 30, 2008, net loss was $10.2 million, or $(0.28) per share, compared to a net loss of $9.8 million, or $(0.25) per share, for the same period in 2007. Net loss per share for the nine months ended September 30, 2008 was based on a weighted average of 36.7 million shares outstanding, compared to a weighted average of 38.9 million shares outstanding for the comparable period in 2007.

As of September 30, 2008, cash, cash equivalents and marketable securities were $55.2 million compared to $94.6 million at December 31, 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 in addition to funding of business operations.

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 Medicexchange PLC ("Medicexchange").

Medicsight PLC (AIM: MDST) is a leading developer of computer-aided detection (CAD) and image analysis software for the medica
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SOURCE MGT Capital Investments, Inc.
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