Bango Regulatory News (BGO)

8 Aug 2007 07:00

Bango PLC08 August 2007 BANGO PLC ("Bango" or the "Company") AGM Statement August 8th, 2007 - Bango will hold its Annual General Meeting in London today,at which Ray Anderson, CEO of Bango will make the following statement inrelation to the performance of the business: "Trading in the first few months of the year has progressed well. End-user spendin the UK for the first quarter of this financial year was 52% higher than forthe comparable quarter last year. Although starting from a lower base, end-userspend in North America increased more than fourfold comparing the same quarters.These increases clearly demonstrate that Bango is well positioned to take fulladvantage of the growth in financial transaction volumes on the mobile web. On a global basis there are signs that suggest the use of the mobile web ismoving towards the mainstream. For example, the recent level of activity andfocus on this area by Yahoo and Google is encouraging and is significantlyincreasing the awareness of the mobile web. In addition, mobile operators arestarting to simplify and reduce the costs of mobile internet access, therebyestablishing a good basis for widespread adoption of mobile web usage." The sign-up of content providers has progressed as planned. Our new BangoStarter package, which enables businesses or individuals to sample the Bangoservice for free and then upgrade to a fuller service has gained more than 1,000sign-ups in the past three months. Whilst it is early days we believe that thisis an important step in attracting greater numbers of content providers toBango. This is because it facilitates the volumes associated with start-upcontent businesses and also scales with the content providers' needs as businessgrows." We have continued to reduce operating expenses by increasing automation andcentralization. A new end user self-care PC website was launched atwww.bango.net on 1st August 2007. This augments Bango's end user support toolson the mobile phone to further reduce the need for human attention by Bangoemployees." Our market leading technology, robust platform, geographic spread andrelationships with industry leaders such as Yahoo, Google and PayPal support ourbelief that Bango is uniquely well positioned to benefit from the continuedgrowth in the mobile web." For further information:Bango plc ICIS Limited Panmure Gordon & CoTel. +44 1223 472777 Tel. +44 20 7651 8688 Tel. +44 20 7459 3600Ray Anderson, CEO Tom Moriarty Aubrey PowellPeter Saxton, CFO Caroline Evans-Jones Stuart Gledhill About Bango In order to make the mobile web simple for everyone, Bango has developed anddelivers its technology as a global exchange for the mobile web. By providing acommon integration point for brands, businesses and individuals, Bango removesthe complexities that make the mobile web difficult to exploit. Through Bango's global exchange, content providers see all users as a unifiedglobal community. Users easily discover and access the widest range of contentand the world's leading mobile operator's partner with Bango to give theirsubscribers the widest choice. Billing providers, search engines and advertisersare automatically connected to content providers in Bango's global exchange. Bango has offices in USA, UK, Spain and Germany and is quoted on the LondonStock Exchange (AIM:BGO). Learn more at www.bango.com This information is provided by RNS The company news service from the London Stock Exchange