Myriad Group: Mobiwire (formerly Sagem Wireless) update

DUEBENDORF-ZURICH, Switzerland – 02 May 2011 – Myriad Group AG (SIX: MYRN) announces that it has been informed that Mobiwire (formerly Sagem Wireless) has filed for insolvency in the French courts.

As result of MobiWire going into administration Myriad can no longer rely on a swift payment of circa Euro 7 million due from the settlement agreement signed between the two companies and the Mobiwire shareholders in 2010.

Myriad Group will now seek legal redress against the Mobiwire shareholders, primarily Sofinnova Partners and Sagem Communications as a SAFRAN Group company who were a party to the agreement.

Simon Wilkinson, CEO of Myriad Group, said: "We are extremely disappointed in the actions of the Mobiwire management, and its shareholders, in causing this failure and its subsequent knock-on effect to Myriad and other Mobiwire creditors. Our 2011 plans had no revenue or cash inflow from Mobiwire and we remain a financially stable company."

About Myriad

Myriad Group AG is a global leader in mobile technology and has shipped over 3.8 billion software applications in more than 2.2 billion mobile phones. Its comprehensive portfolio includes browsers, messaging, Java, social networking, user interfaces and middleware for all types of mobile phones, from ultra‐low cost handsets to advanced smartphones.

The company provides both individual components and complete solutions, which enable handset manufacturers and operators to deliver amazing experiences on mobile phones. Myriad also develops USSD‐based customer self‐care platforms that deliver over 10 billion messages a year to 220 million mobile users across more than 35 mobile operators worldwide.

Myriad was created from the combination of industry leading companies, Esmertec and Purple Labs. It operates worldwide, with offices in Switzerland, France, UK, USA, Mexico, China, South Korea, Taiwan, Japan and Australia. Headquartered in Dübendorf Zürich Switzerland, Myriad is listed on the SIX Swiss Exchange (SIX Symbol: MYRN). For more information please visit www.myriadgroup.com

Contacts
James Bodha -Chief Financial Officer / Richard Hornby - Investor Relations
+41 44 823 8900