MOBS Mobestar

    

Mobestar



Mobestar Holdings Plc ("Mobestar" or the "Company")

Trading Statement

Mobestar, the AIM listed specialist provider of mobile community applications
(MOBS.LN) issues the following trading update.

As detailed in the statement released by the Company on 10 July 2008 the Company
has experienced a period of growth.

The Company has continued to accelerate its contract rollout with new customers
throughout 2008, however the installation and subsequent uptake of services (and
therefore revenues associated with these contracts) has been slower that
expected which has resulted in the Company experiencing working capital
constraints.

As a result, in the short term, the Company is seeking to raise further funds by
the issue of new ordinary shares in the Company.. The Company is in discussions
with a number of parties and will make a further announcement in due course.

Update

The Company has passed a major milestone with the release of "mSpace", an
upgrade to its flagship product "mDate", which has been extensively modified to
ensure that its usage can scale to multiples of millions of users worldwide
without any degradation in performance. The rollout of the "mSpace" in the US,
Europe and Asia Pacific continues with new installations and upgrades to
existing sites.

Contact

For further information please contact:

Mobestar Holdings plc
Peter Richards, Chief Executive Officer
Tel: 08454 900 565

Nominated Adviser

Dowgate Capital Advisers Limited
Liam Murray
Tel: 020 7492 4777

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