New site will combine enhanced social networking, online magazine and member profile features
NEW YORK, /PRNewswire-FirstCall/ -- Magnitude Information
Systems, Inc. (Magnitude) (BULLETIN BOARD: MAGY.OB) disclosed today the
following developments concerning Kiwibox, its primary business unit.
Kiwibox (http://www.kiwibox.com), the first social networking destination
and online magazine where teens produce, discover, and share content
while connecting with friends, today launched the beta version of
Kiwibox 2.0. The beta site is now available to more than 1.8 million
current Kiwibox members, and will run concurrently with the existing
Kiwibox.com as additional improvements are implemented. Kiwibox 2.0
beta includes expanded member profile pages, photo sharing, improved
friend's lists, exclusive video streams, and enhanced daily content.
"We're leveraging the capital investment we received from Magnitude
Information Systems to continue building our reputation for providing
today's teens and young adults with personalized content that they
enjoy, coupled with social networking functionality," said Lin Dai,
chief executive officer of Kiwibox. "We believe the new site will drive
membership growth while increasing our member retention rates."
Today's beta launch announcement marks the first stage in the
planned re-launch of the Kiwibox.com website. Kiwibox plans to continue
implementing additional functionality and services that will
significantly improve its members' experience.
For more information, or to see the beta version of Kiwibox, visit http://beta.kiwibox.com/ .
About Kiwibox
Founded in 1999, Kiwibox.com is the first social networking
destination and online magazine where teens produce, discover, and
share content. Kiwibox members are teens in the know who go to Kiwibox
to enjoy personalized content and share their interests with peers.
With more than 1.8 million registered members, Kiwibox provides one of
the largest distribution and marketing channels to connect advertisers
with the highly sought after teen audience, in a controlled and
interactive environment. For more information, visit www.kiwibox.com.
This press release contains certain statements relating to future
results, which are forward-looking statements as that term is defined
in the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially from
either historical or anticipated results, depending on a variety of
factors. Potential factors that could impact results include the
general economic conditions in different countries around the world,
fluctuations in global equity and fixed income markets, exchange rates,
rating agency actions, resolution of pending regulatory investigations
and related issues, including those related to compensation
arrangements with underwriters, pension funding, ultimate paid claims
may be different from actuarial estimates and actuarial estimates may
change over time, changes in technology and internet developments,
commercial property and casualty markets and commercial premium rates,
the competitive environment, the actual costs of resolution of
contingent liabilities and other loss contingencies, and the heightened
level of potential errors and omissions liability arising from
placements of complex policies and sophisticated reinsurance
arrangements in an insurance market in which insurer reserves are under
pressure. Further information, concerning the Company and its business,
including factors that potentially could materially affect the
Company's financial results, is contained in the Company's filings with
the Securities and Exchange Commission.
Source: Magnitude Information Systems, Inc.
CONTACT: Todd Barrish, todd@dukaspr.com, or Bill McCue,
bill@dukaspr.com, both of Dukas Public Relations, 
+1-212-704-7385
, for
Kiwibox.com; Edward L. Marney, President and Chief Executive Officer,
Magnitude Information Systems Inc., +1-772-286-9292
Web site:
http://beta.kiwibox.com/
http://www.kiwibox.com/