MGT Enters Joint Venture to Develop and Market Secure Mobile Phone

DURHAM, N.C., May 5, 2017

Alexander Reay, President of Nordic IT, will be Chief Executive Officer of the venture, with John McAfee appointed Board Chairman. JMPP expects to release a prototype by the end of 2017, with commercial availability at the Mobile World Congress conference in Barcelona in February 2018. The phone will feature hardware "kill switching" for various functions to empower the user to protect his privacy. For example, a bank of switches will allow physical disconnection of the battery, WiFi, Bluetooth, geolocation, and the camera and microphone. Other enhancements to traditional cell phone offerings will include anonymous web browsing and more secure email and text functionality.

John McAfee stated, "The phone will not be hack proof but it does give the user enormous power over his or her privacy and it will be light years ahead of the many other phones on the market claiming to be secure. Over time, future versions will be as hack proof as humanly possible."

JMPP Oy began offering pre-order vouchers on the MGT website several days ago to allow prospective purchasers to reserve earliest delivery positions for the privacy phone when released. The first 100 purchasers are also entitled to a device hand-signed by John McAfee. While the company will honor and fulfill all vouchers purchased to date, it has decided to discontinue presales due to overwhelming demand. Mr. McAfee added, "While I am flattered at the outpouring of support, the truth of the matter is we are a small company and cannot devote our limited human resources to this marketing task. Those who pre-ordered the phone expected information and support that is frankly beyond our current capabilities. This phone will be the product of thoughtful and leading edge engineering, not hype. As design and production advance, we can reconsider a pre-sale reservation method." 

About MGT Capital Investments, Inc. 
MGT Capital Investments, Inc. (OTC: MGTI) is in the process of acquiring and developing a diverse portfolio of cyber security technologies. With industry pioneer John McAfee at its helm, MGT is positioned to address various cyber threats through advanced protection technologies for mobile and personal tech devices, as well as corporate networks. The Company's first product, Sentinel, an enterprise class network intrusion detector, is scheduled to be released by the end of June 2017.

Also as part of its corporate efforts in secure technologies, MGT is growing its capacity in mining Bitcoin. Currently at 5.0 PH/s, the Company's facility in WA state produces about 100 Bitcoins per month, ranking it as one of the largest U.S. based Bitcoin miners. Further, MGT is in active discussions with financial partners to grow Bitcoin output materially.

Lastly, MGT stockholders have voted to change the corporate name of MGT to "John McAfee Global Technologies, Inc."  Following a dispute over ownership and permitted usage of the name McAfee, The Company and Intel have agreed to a mediation process to avoid unnecessary legal costs.