Nokia Invests in Obopay

REDWOOD CITY, California - Global leader’s support represents mobile payments milestone

Obopay, Inc., the pioneering service provider for payments via mobile
phones, today announced an investment from Nokia, the world leader in mobile
communications. This investment is a resounding endorsement for Obopay’s
ongoing innovation in mobile money technology.

“This investment is a landmark in the evolution of mobile payments. It
underscores the global potential of mobile money by providing convenient
access to money anytime, anywhere. Given Nokia’s position as the leader in
mobile communications, we could not have asked for a better investor,”
commented Obopay CEO Carol Realini.

Obopay has also named Teppo Paavola, vice president and head of Corporate
Business Development at Nokia, to its board of directors.

Obopay will use this minority investment to aggressively extend their
product suite and enhance their global presence, as mobile devices become
constantly more integrated into the daily lives of the world’s 4 billion
mobile consumers.

Teppo Paavola, said, “This investment reflects our belief in the global
potential for mobile payments. Obopay has consistently demonstrated its
ability to redefine how people spend and send money and has established
itself as the leader in a competitive landscape.”

For more information, visit www.obopay.com.

About Obopay

Obopay, Inc. (www.obopay.com) is a pioneering service that lets consumers
and businesses purchase, pay, and transfer money through any mobile phone
using Obopay’s mobile application, text message, mobile Web, or Obopay.com.
As the first mobile payment service created exclusively for the mobile phone,
only Obopay works on any mobile phone and any carrier to empower consumers
and businesses with the convenience of mobile payments. Obopay is bringing
mobile payments to more consumers through industry-first alliances and is
headquartered in Redwood City, California.

Source: Obopay, Inc.

Erin Mitchell for Obopay, Inc., +1-646-712-3050, obopay at RLMpr.com