MIAMI, Florida, October 24 /PRNewswire/ --     Buongiorno SpA (MTAX STAR, Italian Stock Exchange: BNG), which last July 
signed an agreement for the acquisition of iTouch becoming the world's No.1 
provider of mobile entertainment, information, messaging and marketing 
services, announces today the acquisition of 100% of the share capital of 
By-Cycle (Axis Mundi S.A.), leading Group in Argentina, Uruguay and Peru in 
the digital entertainment market and mobile marketing, with headquarters in 
Buenos Aires and Lima.

Buongiorno will pay By-Cycle 5.5 million USD in cash(1).

By-Cycle, active since 2002, operates with two business lines:
mobile marketing services and mobile value added services under hugely
successful BIPPIE brand (www.bippie.com), leader in Argentina. Bippie's offer
includes value added services as ringtones, wallpapers, videos, java games,
news, chat and communities, reaching a potential customer audience of 31
million clients.

By-Cycle has been the first to collaborate with the 3 main
telephone operators, it conceived and promoted the first interactive TV
(cable as well) voting action, the first interactive txt game and the first
mms soap opera (FanTESStic) for its consumers. Since its inception, By-Cycle
realized more than 300 voting activities in Argentina, Ecuador, Mexico,
Colombia, Uruguay and Peru.

In addition, By-Cycle generated a unique range of Mobile
Marketing services to develop creative mobile marketing concepts and
solutions for its clients: Disney and Nokia, among others; and relevant
agencies such as Ogilvy, JWT.

Buongiorno started cooperating with By-Cycle in April 2007 for
designing and promoting the "Superconcurso Blinko Argentina" in collaboration
with Telefónica Móviles: a contest which allowed to win up to 500.000 pesos,
simply sending an sms. The operation had an enormous and immediate success,
collecting more than 16 million sms (900,000 unique users).

"The mobile market in Argentina is rapidly growing, counting
over 31 million mobile phones. We are delighted for the acquisition of
By-Cycle; our aim is to create and deliver high quality products and services
to partners and final consumers" comments Andrea Casalini, Chief Executive
Officer of Buongiorno.

The acquisition of By-Cycle is another step in Buongiorno's
global growth and presence in the LatAm market - Brazil, Mexicod Peru.

In addition, By-Cycle generated a unique range of Mobile
Marketing services to develop creative mobile marketing concepts and
solutions for its clients: Disney and Nokia, among others; and relevant
agencies such as Ogilvy, JWT.

Buongiorno started and Argentina and co-leader in Brazil,
counting on connections with the 15 top mobile operators of Central and South
America.

Buongiorno has been present in Mexico since 2004 and has a
solid partnership with Televisa - Esmas, the main media group in Central and
South American countries and it is leader in the US Hispanic mobile
entertainment market. In 2007 Buongiorno opened new offices in Sao Paulo,
Brazil, and signed an agreement with TIM Brazil, the second mobile operator
of the country (with over 24 million clients), for the production and
distribution of TIM Music Store, the new virtual music shop which will allow
its users to listen and buy entire songs and audio/video content of the most
known Brazilian and international music artists.

(1) plus a possible earn out of up to 4 million USD based on EBITDA
estimates for 2008-2009.

http://www.buongiorno.com

Contact
    Monica Montefusco
    Global PR & Events Manager
    Tel. +39-02-582131
    Email: monica.montefusco@buongiorno.com