Released on: February 12, 2008, 11:05 pm

Press Release Author: Cathryn van der Walt

Industry: Telecommunications

Press Release Summary: Loop secures US$500,000 funding for India JV, MOKO users
expand around the globe

Press Release Body:
Sydney,Australia,February,11,2008 -- Loop Mobile Limited ("Loop")today confirmed it
has signed a Memorandum of Understanding with Radical SoftNet Pvt Ltd, a subsidiary
of Telemart Communications (India) Pvt Ltd, to form a joint venture for the Indian
market. Radical SoftNet will distribute and operate Loop's award-winning MOKO mobile
community service via its wide range of partnerships with Indian mobile operators.
Loop will license the MOKO mobile community service for 49% ownership of the joint
venture company. Radical SoftNet will contribute US$500,000 of cash and services for
its 51% ownership of the latest mobile networking entrant into the Indian
marketplace.

For Loop Mobile's CEO and Managing Director, Martin Hoffman the introduction of the
MOKO mobile community to India is well timed.

"Currently India enjoys one of the world's lowest tariff structures for mobile phone
ownership and it is experiencing extremely rapid take up rates for new handsets - up
to five million handsets per month are being sold. In conjunction with this, mobile
applications such as music are driving growth rates in value added services to
around the 20% mark annually. With the launch of 3G services later this year, we are
excited about our prospects with our new joint venture partners," he said.

The MOKO mobile community will be customised for the Indian market for fully
integrated mobile and online capabilities.

"MOKO is different to other social networking communities. It has been specifically
designed for the mobile handset and its 2007 additions such as private messaging for
images or video and MOKO Music mean that if you have access to a mobile plus MOKO
you can create and communicate from your handset. You don't actually need a PC to
manage your profile and content. This is perfect for a nation enjoying continued
rapid growth in the mobile sector," Hoffman outlined.

Radical SoftNet and Loop are now developing marketing and distribution plans for the
launch of the MOKO mobile community.

Radical SoftNet is part of the Telemart Communications group of companies which is
the exclusive distributor of Samsung handsets throughout India. It operates a
network of 26 office and logistics distribution centres throughout the country
servicing over 40,000 retail channel partners. It is chaired by Mr Ashoek Gupta, the
national president of the Indian Cellular Association. Radical SoftNet provides
mobile content and business services with its own Tier 1 Data Centre and 24 hour
call centre.

India today has more than 217 million mobile subscribers, including both GSM and
CDMA, as at 31 October 2007 according to the telecommunications regulator Telecom
Regulatory Authority of India. Handset shipments are experiencing year-on-year
growth at rates of 32.4% and shipments for 2007 were expected to reach 80 million.
(IDC India Quarterly Mobile Handsets Tracker Q1 2007).

Loop was the winner of the 2007 Best User Generated / Social Networking Service
"MEFFY" international award by the Mobile Entertainment Forum for MOKO. MOKO mobile
community was also the winner of the 2008 National Association of Television Program
Executives' (NATPE) Mobile++ Top 12 Awards for excellence in the mobile
content marketplace.

About Loop Mobile Limited
Loop Mobile Limited is an international provider of mobile communities, targeting
the youth and young adult demographic. The company's flagship mobile community
product, MOKO, is implemented across the 3 Mobile Australia and Virgin Mobile
Australia networks with Optus Communications going live early 2008. MOKO is also
available worldwide via mobile internet at www.moko.mobi. Loop also provides
white-label mobile community services to major brand and content owners including
Telstra Australia and ITV PLC, the United Kingdom's largest commercial television
broadcaster.

Loop was founded in 2004 in Perth and is today headquartered in Sydney. Its
proprietary platforms enable the uploading and viewing of pictures and videos,
personal profiles, live chat threads, private messaging, search facilities and
additional features. Loop was the winner of the 2007 Best User Generated / Social
Networking Service "MEFFY" international award by the Mobile Entertainment Forum for
MOKO. MOKO mobile community was also the winner of the 2008 National Association of
Television Program Executives' (NATPE) Mobile++ Top 12 Awards for excellence in the
mobile content marketplace. www.loopmobilelimited.com. PressRelease Distribution By
PressReleasePoint(http://www.pressreleasepoint.com)



SYDNEY
T: +61 2 9965 7250
F: +61 2 9439 2738
Suite 118, 133 Alexander St
Crows Nest, NSW, 2065
Australia

contact@loopmobilelimited.com
Loop Mobile Limited
ACN 111 082 485
ASX:LPM
LONDON : +44 (0)20 7224 2477
PERTH : +61 433 140 830




Web Site: http://www.loopmobilelimited.com

Contact Details: For media interviews :

Cathryn van der Walt
Einsteinz Communications on behalf of Loop Mobile
Sydney,Australia
0402 327 633
cathrynvanderwalt@einsteinz.com.au
http://www.loopmobilelimited.com