Just in Time for the Holidays, hi5 Introduces Its International Virtual Gifts Store

hi5 Introduces Virtual Gifts and Virtual Currency to a Global Audience San Francisco, CA; December 10, 2008 —hi5, one of the world's largest and fastest-growing social networks, today announced the launch of its virtual gifting application hi5 Gifts. The hi5 Gift Store will initially offer an assortment of 36 virtual gifts that represent a vibrant cross section of the world's customs and cultures. Also launching today, hi5 Coins is a new integrated virtual currency that enables hi5 members to purchase virtual gifts for friends and family.

Celebrating the global diversity of its user base, the hi5 Gift Store offers a variety of culturally relevant virtual gifts many of which are based on holiday traditions, customs and nuances that are emotionally tied to distinct populations around the globe. For instance, at launch, hi5 Gifts offers a virtual "Rosca," which is a cake that Mexicans eat on January 6th in celebration of Three Kings' Day; a steamed pork bun, which is a popular baked good in Chinese culture; and a dreidel, which is a popular toy for children during the Jewish holiday Hanukkah.

"As social networking continues to grow dramatically around the globe, we see virtual gift-giving as a fundamental aspect of social interaction," said Ramu Yalamanchi, CEO of hi5. "With the addition of virtual gifts and a virtual currency on hi5, we are enabling our users to celebrate their cultural traditions and strengthen their relationships with friends and family."

hi5 Coins, the virtual currency hi5 members purchase in order to unlock premium goods and services on the site, is a key enabler of hi5 Gifts. hi5 Coins can be purchased with a credit card or a debit card via ClickandBuy, a leading online payment service provider.

"I'm very excited that hi5 selected ClickandBuy to be their global payment partner. We look forward to helping hi5 support their online community with our localized payment methods" said Gus Perez, Vice President e-Commerce Sales at ClickandBuy.

About hi5 Networks

Headquartered in San Francisco, hi5 is one of the world's largest and fastest growing social networks and mobile web networks. Our focus is to empower our users to build and maintain connections between friends and family online. With over 56 million unique visitors every month, hi5 is a top 20 website globally and the number one social network in 31 countries across Latin America, Europe, Asia and Africa. The service is available in over 40 languages, delivering localized content and applications to users worldwide.

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