Velti Announces Mobclix Subsidiary Ceases All Operations; Files Voluntary Chapter 7 Petition

Velti plc

announced today that wholly-owned subsidiary Mobclix has filed a voluntary petition under Chapter 7 of the U.S. Bankruptcy Code to initiate an orderly wind-down of the business. The Chapter 7 petition was filed today with the U.S. Bankruptcy Court for the District of Delaware.  The wind-down will be administered under the oversight of a Court-appointed trustee. Additional information on the process can be obtained through the Court. Mobclix is the only Velti business that will cease operations.  Velti also announced today the Chapter 11 filing for Velti's other U.S. operations in conjunction with a sale of various Velti entities.  All other Velti operations outside of the U.S. are continuing operations as usual. Forward-Looking Statements "Safe harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements about the voluntary petition filed under Chapter 7 of the U.S. Bankruptcy Code by Mobclix, Inc. in the United States and the ability of other Velti businesses to continue to operate and fulfill all customer obligations as normal.  The achievement or success of the matters covered by such forward-looking statements involves risks, uncertainties and assumptions, which, if proven incorrect,