News Release

mFoundry and Verizon Wireless Working Together on Mobile Banking and Financial Services Solution

Verizon Wireless Expected to Support mFoundry's Spotlight Financial Platform

May 13, 2007

Jeffrey Nelson
Jeffrey.Nelson@VerizonWireless.com
908-559-7519mFoundry, Inc.
Diane Hong
diane@mfoundry.com
415-944-8551

McKenzie Worldwide (for mFoundry)
Megan McKenzie
meganm@mckenzieworldwide.com  
503-625-3680

SAN FRANCISCO and BASKING RIDGE, NJ — mFoundry, an award-winning mobile application platform provider, today announced that it is working with Verizon Wireless on a banking and financial services solution. Verizon Wireless is expected to support the mFoundry Spotlight Financial Platform, which will offer an easy, secure way for Verizon Wireless customers to access and manage their financial relationships. The Spotlight Financial Platform provides financial institutions with a turnkey method of creating well-branded, unique mobile applications that run seamlessly and independently within the Spotlight solution.

"We are extremely pleased to be working with Verizon Wireless," said Drew Sievers, mFoundry's chief executive officer and co-founder. "Their support of Spotlight is a dramatic and important proof point that the market desires a solution that is flexible enough to address the needs of all parties in the mobile financial ecosystem."

Spotlight is the only mobile financial platform available that serves the needs of both operators and financial institutions, and has been designed to immediately accommodate nearly any type of financial services content, including support for banking, brokerage, credit, stored-value, coupons and payment solutions. Its out-of-the-box components can be easily branded, customized and maintained by participating financial institutions. In addition, Spotlight currently runs on virtually all of most popular mobile devices on the market, supporting more than five times the number of devices offered by the nearest competitor.

mFoundry has integrated its mBanking product into Spotlight and all of its mobile banking customers will be included in operator Spotlight Applications. Banks using Spotlight to deliver full-service mobile banking can enable customers to check account balances, search for transactions, transfer funds, receive and pay their bills, and find ATMs and branches. Other financial institutions can use the Spotlight Development Platform to create their own customized applications that can be accessed from within the application.

For more information, please visit www.mfoundry.com.  

About Verizon Wireless
Verizon Wireless operates the nation's most reliable wireless voice and data network, serving 60.7 million customers. The largest US wireless company and largest wireless data provider, based on revenues, Verizon Wireless is headquartered in Basking Ridge, N.J., with 66,000 employees nationwide. The company is a joint venture of Verizon Communications (NYSE:VZ) and Vodafone (NYSE and LSE: VOD). Find more information on the Web at www.verizonwireless.com. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at www.verizonwireless.com/multimedia.  

About mFoundry
mFoundry is an award-winning mobile application platform provider. mFoundry's Spotlight Financial Platform offers a complete financial services solution for financial institutions, wireless carriers and their customers. Spotlight incorporates mFoundry's leading mobile banking product into the platform and has been adopted by some of the largest banks and carriers in the US. For more information, please visit www.mfoundry.com.  

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