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MGT Capital Investments Announces Shareholders’ Equity Of $6.8 Million

Medicsight Ltd. Fully Consolidated

As of September 30, 2012, the Company held 77% of the issued share capital of Medicsight Ltd. On December 4, 2012, MGT completed its acquisition of the remaining shares of Medicsight for total consideration of $33,000 in cash plus 60,000 MGT common shares. In accordance with Generally Accepted Accounting Principles, the result of this transaction is that Stockholders’ Equity attributable to MGT increased by $2.3 million, and Medicsight is now a wholly owned subsidiary of MGT.

Medicsight is a medical technology company with CE-marked and FDA-approved medical imaging software to assist radiologists in the early detection and measurement of colorectal polyps. The Company continues to explore all strategic alternatives with respect to Medicsight, including the sale or licensing of its global patent portfolio.

Repayment and Retirement of Convertible Note

As previously disclosed by MGT in its Form 8-K dated October 9, 2012, the Company executed two identical exchange agreements whereby 100% of the outstanding balance due on its Senior Secured Convertible Note was repaid at face value for a cash payment of $3.5 million plus 100,000 shares of the Company’s common stock. As a result of the transaction, MGT has no outstanding debt.

Completed Equity Financings

As previously disclosed by MGT in its Form 8-K dated November 9, 2012, the Company closed two separate agreements with various institutional investors for the sale of various equity securities, resulting in gross proceeds to the Company totalling $5.9 million. The agreements were comprised of:

1.) $4.5 million from the sale of 1,380,362 shares of Series A Convertible Preferred Stock and five-year warrants to purchase 2,760,724 shares of MGT common stock at $3.85 per share. The Series A Convertible Preferred Stock pays a 6% dividend and is convertible into shares of MGT common stock at a fixed price of $3.26 per share; and,

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