Spare Backup Commences Mobile Products Launch with Major UK Financial Services Organization

MINDEN, Nev., Feb. 15, 2012  /PRNewswire/ -- Spare Backup Inc. ("Spare Backup") (OTCBB: SPBU), a provider of data backup and security software for smartphones, tablets and PCs, which is carrier and manufacturer agnostic today announced that it has commenced the mobile products launch with a major UK financial services organization (the "Organization"). 

As part of the launch, certain Spare Backup mobile services, including 2 gigabytes of storage will be incorporated into existing service contracts of the Organization's retail banking customers throughout the UK, numbering in excess of 4 million, at no additional charge to the customer. Spare Backup will receive monthly recurring revenue for every customer activation which is estimated to be in excess of $2 million annually.   Customers who exceed the base storage capacity will be offered the opportunity to pay for additional storage on a monthly or annual basis and will also be offered subscription upgrades for additional features and services creating additional revenue opportunities which could potentially far exceed the minimum annual revenue estimates for Spare Backup.

Spare Backup recently completed security upgrades to enable Spare Backup's new websites, portals and interfaces to seamlessly integrate with the specific security standards of the Organization.  The contract for services to the Organization is covered under its master services agreement with Lifestyle Services Group.

Commenting on the launch Cery Perle CEO of Spare Backup states, "We are excited to begin this launch and have now prepared for numerous additional near term launches with Lifestyle Services Group and our other major distribution partners. Our research has shown that customers value data backup products, that are simple to set-up and maintain and that the data stored on devices is now considered more valuable than the device itself. We are confident that the value we provide in loss savings, coupled with our new suite of security tools will result in a rapid acceptance rate and a solid recurring revenue base."

About Lifestyle Services Group

Lifestyle Services Group is the biggest single provider of packaged account products and bespoke services to the retail banking sector and manages the largest number of mobile phone insurance customers in the UK on behalf of its clients. It partners UK High Street banks and mobile networks assisting 8 million of their customers. 

Products managed by Lifestyle Services Group include mobile phone insurance, gadget insurance, mobile data back-up and security products. Services provided include brokering, underwriting, fraud investigation, supply chain management and customer administration.

Established in 2005, Lifestyle Services Group has over 1000 employees in the UK and operations in Europe.  It is part of the multi-billion pound 4u Group including Phones 4u, Dial-a-Phone. For more information, go to www.lifestylegroup.co.uk.

Lifestyle Services Group Ltd is registered in England and Wales. Company number 5114385.  Registered Office:  Osprey House, Ore Close, Lymedale Business Park, Newcastle Under Lyme, Staffordshire, ST5 9QD.  It is authorized and regulated by the Financial Services Authority.

About Spare Backup, Inc.

Spare Backup, Inc. is a leading provider of data backup and security software for smartphones, tablets and PCs. Spare Backup's software enables consumers and small to medium sized businesses to easily protect valuable computer and mobile data quickly, automatically and cost-effectively.  Spare Backup software intelligently selects, secures and stores personal and business content on a continuous basis or according to the schedule of the user's choice.  It also allows for the integration of that content across various devices and provides enhanced security features to protect valuable data on any lost or stolen devices.  Spare Backup software is the first totally automated cloud-based backup service that is distributed on a stand-alone or private label basis through major retail and warrantee service partners in North America and Europe.  

Safe Harbor Statement

The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking information made on the company's behalf.  All statements, other than statements of historical facts, which address the company's expectations of sources of capital or which express the company's expectation for the future with respect to financial performance or operating strategies can be identified as forward-looking statements.  Such statements made by the company are based on knowledge of the environment in which it operates, but because of the possibility of unknown factors, as well as other factors beyond the control of the company, actual results may differ materially from the expectations expressed in the forward-looking statement.  An investment in our common stock involves a significant degree of risk.  You should not invest in our common stock unless you can afford to lose your entire investment.  You should consider carefully all risk factors and other information in our annual report and quarterly filings before deciding to invest in our common stock.  If any of the following risks and uncertainties develops into actual events, our business, financial condition or results of operations could be materially adversely affected and you could lose your entire investment in our company.

Forward Looking Statements:

This press release contains forward-looking statements that involve a number of risks and uncertainties, including statements regarding the outlook of the Company's business and results of operations. By nature, these risks and uncertainties could cause actual results to differ materially from those indicated. Generally speaking, any statements using terms such as "will," "expect," "anticipate," or "may," or which otherwise predict or address future results or events, are likely to contain forward-looking statements. It is important to note that actual results may differ materially from what is indicated in any forward-looking statement. Readers should consider any forward-looking statements in light of factors that could cause actual results to vary. These factors are described in Spare Backups filings with the SEC, and readers should refer to those filings, including Risk Factors described in those filings, in connection with any forward-looking statements.  The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise

CONTACT Spare Backup, Inc.
                 Ascendant Partners at [email protected]

SOURCE Spare Backup, Inc.