Walter Kostiuk Appointed Chairman and CEO of MobileBits

SARASOTA, Fla., April 19 /PRNewswire-FirstCall/ -- MobileBits Holdings Corp., (OTC Bulletin Board: MBIT), a global technology company and provider of the MobileBits™ answer engine, today announced the appointment of Walter Kostiuk as Chief Executive Officer and Chairman of the Board.

Kostiuk brings 15 years of experience and achievement in the wireless software industry.  For over six years, he held senior management positions at Research in Motion (RIM), maker of the BlackBerry® smartphone.   Additionally, Kostiuk served as Vice President of Global Business Development at AskMeNow, one of the first human-based mobile Q&A services. Most recently, Kostiuk held a leadership position at Expert System and was directly responsible for the mobile & internet search strategy; leading the effort in delivering the company's semantic intelligence platform.

"MobileBits is well positioned to capitalize on the explosion of the mobile economy," said Walter Kostiuk, CEO & Chairman of MobileBits. "The Company's unique approach to search, created specifically for the mobile internet, connects you to the most popular content on the web through one simple solution.  I am very pleased to be part of this exciting company as it prepares to launch its products this year."

With the appointment of Mr. Kostiuk and the introduction of a new executive team and board to soon follow, MobileBits will be well positioned for growth and leadership in 2010.

About MobileBits

MobileBits is a global technology company that provides answers and highly targeted advertisements through its MobileBits™ answer engine, available on mobile phones through the Company's web and smartphone applications.  The Company offers a wide range of answers and information on a broad scope of web-based content.

To learn more, visit www.mobilebits.com.  

Forward-Looking Safe Harbor Statement:

This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. There are a number of factors that could cause actual results and developments to differ materially from forecasted results. These risks and uncertainties include our ability to: attract end users; attract advertisers; our ability to successfully implement our current long-term growth strategy; as well as product demand, market competition, fluctuations in advertising payouts, delays in website & application development, technical issues beyond our control, reliance on the various platforms that we build applications on, and risks inherent in our operations. For a discussion of these risks and uncertainties, please see our filings with the Securities and Exchange Commission. Our public filings with the SEC are available from commercial document retrieval services and at the website maintained by the SEC at http://www.sec.gov.

SOURCE MobileBits Holdings Corp.