SEATTLE, Wash., March 25--PRNewswire/AsiaNetWireless Promotions for Spider-Man Movie to Be Launched Throughout Europe, Asia, and South America Kirkland, Washington based venture fund eFund LLC today announced formation of a new company to deliver popular media and entertainment applications and promotions through wireless devices. Rage Wireless, Inc. will develop and launch innovative wireless entertainment and promotions programs in conjunction with wireless carriers and global brand companies using premium media content and the latest wireless technologies. The formation of Rage Wireless was driven by eFund LLC, a venture fund founded in 1999 by Daniel Kranzler. Mr. Kranzler, who will serve as Chairman of Rage Wireless, has served in an active investor and advisor role with a number of wireless and Internet startup companies as well as industry leaders such as InfoSpace and AT&T Wireless that have experienced combined valuation growth of over $20 billion. eFund's most recent wireless investments include Mforma Corporation, a rapidly growing developer and marketer of an independent mobile applications platform, with relationships with Cingular Wireless and other leading wireless carriers worldwide. "There is a large opportunity for a creative, experienced group to translate premium media into innovative promotions and entertainment programs on wireless devices," stated Mr. Kranzler. "The same brands and content that people enjoy in other environments will become available on hand-held devices in increasingly compelling fashion. When whatever is the current rage in entertainment can be delivered to a personal display and interaction center within the palm of a person's hand, exciting opportunities open up for increased consumer enjoyment. Rage Wireless intends to become a leader in this new field, working in close partnership with leading media companies, wireless carriers, and global consumer brands." Rage Wireless today announced the first such agreement relating to Columbia Picture's upcoming worldwide release of the Spider-Man movie. Rage is developing a mobile entertainment software package employing SMS, WAP, and J2ME platforms, with its services scheduled to launch in tandem with the motion picture. This wireless entertainment and promotions package is expected to increase consumer awareness and marketing and cross-promotional opportunities for the film, as well as positively effect box office receipts and home video and DVD sales. Mr. Al Ovadia, EVP for Spider-Man Merchandising LP and Sony Pictures Consumer Products, said, "We are tremendously enthused about working with the experienced team at Rage Wireless to deliver great wireless entertainment and promotions for the Spider-Man movie. Rage Wireless has captured the essence the Spider-Man character and the movie, and has done a terrific job of translating it to fun and engaging wireless content." Rage Wireless, headquartered in Seattle, will serve its customers worldwide from marketing offices in Los Angeles, London, Singapore, and Helsinki. ABOUT RAGE WIRELESS, INC. Rage Wireless delivers popular media and entertainment applications and promotions through wireless devices. Rage intends to become the leading wireless provider of branded media and promotions, in partnership with leading content publishers, wireless carriers, global brand companies, and other wireless technology and services providers. Additional information soon will be available at (www.ragewireless.com). ABOUT EFUND, LLC eFund (www.efundllc.com) is an investment partnership focused on early-stage investments in communications and Internet companies. The fund's partners are experienced company founders and builders who have been actively involved in starting, growing, managing, financing and supporting high-growth technology companies. The fund has invested in over 40 high-tech investments in the past few years which have a combined equity value today of several billion dollars. All of the fund's return on its investments is given away to charity through the Kirlin Foundation, which supports children's and education programs in the Northwest. Except for the historical information contained herein, this press release contains forward-looking statements. In many cases, you can identify forward-looking statements by terminology such as "may," "intends," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," or "continue," or the negative of these terms and other comparable terminology. These statements are only predictions. Such forward-looking statements are subject to various known and unknown risks and uncertainties and are therefore not a guarantee of future performance. The potential risks and uncertainties which could cause actual growth and results to differ materially include but are not limited to, the volatile and competitive nature of the wireless data services industry, changes in domestic and international market conditions, the success of the company's brand development systems efforts, and customer acceptance of the company's services, products and fee structures. Rage Wireless undertakes no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date of this release or to reflect the occurrence of anticipated events. SOURCE Rage Wireless, Inc. CONTACT: Dave Arnold of Rage Wireless, Inc., +1-206-381-2253, or [email protected] Web site: http://www.efundllc.com Web site: http://www.ragewireless.com