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MGT Capital Investments, Inc. Provides Update on Recent Developments
Date:8/22/2011

in London.  We anticipate that trading in MDST shares will resume as of the date of this press release and that shares of MGT will resume trading thereafter. There can be no guarantee that MDST stock will resume trading in London or that the NYSE Amex LLC will resume trading of MGT common stock upon the resumption of trading of MDST shares.

Summary Financial Results for the period ended June 30, 2011

For the six months ended June 30, 2011 revenues from licensing and other sales were $264,000, compared to $326,000 for the corresponding period in 2010. Total operating expenses for the six months ended June 30, 2011 were $5.2 million, compared to total operating expenses of $6.1 million in the comparable period for 2010.

For the quarter ended June 30, 2011, the Company reported a net loss of $2.9 million, or $0.07 per share, compared to a net loss of $4.0 million, or $0.12 per share, for the same period in 2010. Net loss per share for the quarter ended June 30, 2011 was based on weighted average of 39.5 million shares outstanding, compared to a weighted average of 32.5 million shares outstanding for the comparable period in 2010.

As noted above, based upon the preliminary results of the Special Committee investigations, the Company has concluded that no adjustments or restatement of our prior issued financial statements was required.  However, based upon the preliminary results of the investigation, an additional weakness in internal controls over financial reporting was identified surrounding the identification and disclosure for related party relationships and related party transactions.  We will assess the effectiveness of our remediation efforts in connection with our management's tests of internal control over financial reporting in conjunction with our December 31, 2011 financial statements.

At June 30, 2011 the Company reported cash and cash equivalents of $5.7 million compared to $8.4 milli
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SOURCE MGT Capital Investments, Inc.
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