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Net Element And MegaFon Announce A Global Release Of Net Element’s Motorsport.com And Komissionka Mobile Apps

Net Element (OTCQB: NETE), a technology services provider and Internet publisher, and MegaFon today announced their intention to launch NETE’s Motorsport.com and Komissionka mobile phone apps in Russia.

The Motorsport.com app and the Komissionka app will first be introduced to the Russian marketplace on pre-loaded smartphones under MegaFon’s brand, marketed to MegaFon’s 62.9 million cell phone subscribers. Both apps will be released for free.

Motorsport.com, a NETE-owned and operated subsidiary, provides interactive multimedia experiences of race series through exclusive videos and photos, race standings, schedules, locations, race team profiles and other race content.

The Komissionka app, a Russian version of Net Element’s Yapik mobile app, currently available in selected U.S. markets, will enable users to buy, sell, barter or trade goods and services using geo-based technologies.

“Net Element’s partnership with MegaFon symbolizes our entry into the Russian marketplace where large-scale distribution reach matters, and more strategically positions our company in one of the world’s most rapidly growing economies,” said Dmitry Kozko, NETE’s executive vice president. “Net Element is constantly attempting to redefine online experiences with its innovative and exciting apps, as MegaFon continues to build its wireless network serving its subscribers with the most innovative features and services.”

Added Leonid Savkov, chief marketing officer of MegaLabs, 100% subsidiary of MegaFon JSC, “Our subscribers demand a wide variety of mobile applications for multiple uses, including accessing everything from entertainment to information, and they will appreciate the increased convenience of having applications combined and pre-loaded in one device. We expect that Net Element’s cutting-edge technologies and extensive experience in the international marketplace will enable us to offer our customers the most advanced services.”

ABOUT MEGAFON JSC

MegaFon JSC is a universal operator working in all the segments of the telecommunications market. The company is actively fighting mobile fraud and works to raise mobile literacy in the population. More than 62 million people throughout Russia have chosen the high quality of services and communications provided by MegaFon. Appreciating the trust of its customers, the company has become the only mobile operator to adopt more customer-oriented policies.

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