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Gamers Factory, Inc. Completes Stock Swap and $3.9 Million Financing to Become Public Company

Founded in 2003 by experienced and successful industry veterans, GTT is focused on the procurement, refurbishment, redistribution and value-creation of new and pre-owned video games. The Company currently supplies an array of unique services, supported by a number of retail and supply partners such as GameStop, Wal-Mart, Best Buy, CVS Drugstores, 7-Eleven, Toys "R" Us, eBay, GameFly, AAFES, MicroCenter, Gazelle, DealTree, GENCO, Costco and Blockbuster allowing them to better serve their customers with a primary focus on monetizing their video game collections. The foundation of most of these relationships is GTT's proprietary "game trading engine," which provides real-time market pricing on more than 10,000 video games and consoles.

"We are delighted to welcome public shareholders to the Game Trading Technologies family," said Todd Hays, President and CEO of Game Trading Technologies, Inc. "We believe our unique suite of services focused on the rapidly growing pre-owned video game market and deep relationships with leading retailers, game publishers and service providers offer investors an attractive opportunity to invest in a pure-play company in this rapidly growing industry segment. Providing consumers the additional means with which to acquire the new games and gadgets they crave is a 'win-win' for all parties involved, particularly in this economic environment," added Hays.

Game Trading Technologies, Inc. posted 2009 revenues of $36.7 million versus 2008 revenues of $17 million, an increase of over 100%. Net income for 2009 was $1.74 million as compared to net income of $325,499 in 2008.

The Offering

GTT completed a $3,900,000 private placement with institutional and accredited investors of 1,950,000 units at $2.00 per unit, with each unit consisting of one share of series A convertible preferred stock that is convertible into one share of common stock at $2.00 at anytime and a warrant to purchase one share of common stock at $2.50 per share for five years from the closing date. In connection with the offering, Todd Hays, President and CEO, subscribed for 50,000 units. Certain investors in the offering shall have 60 days from the closing to subscribe for an additional $1,700,000 of additional units.

After the closing of the transaction and the private placement, GTT has 10,240,000 shares of common stock outstanding, inclusive of 1,950,000 shares of common stock underlying the series A convertible preferred stock sold in the private placement. The Company also has 3,185,000 outstanding warrants to purchase shares of common stock, with a substantial majority of the warrants exercisable at $2.50 per share. The securities sold in the private placement and issued in the stock swap have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States in the absence of an effective registration statement or exemption from registration requirements. This news release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. A current report on Form 8-K which contains a complete description of the Company and this transaction is available on the SEC's website at www.sec.gov.

Pre-transaction stockholders of the Company will not be required to exchange their existing City Language Exchange stock certificates for certificates of Game Trading Technologies, since the OTC Bulletin Board will consider the existing stock certificates as constituting "good delivery" in securities transactions subsequent to the transaction.

About Game Trading Technologies, Inc.

Founded in 2003 and headquartered in Hunt Valley, MD, Game Trading Technologies, Inc. is a leading game trading services provider focused on the procurement, refurbishment and redistribution of pre-owned video games. Game Trading Technologies, Inc. currently supplies unique services, supported by innovative technologies to an array of retail partners, allowing them to better serve their customers with a primary focus on monetizing their video game collections. The foundation of most of these relationships is Gamers' proprietary game trading database, which provides real-time market pricing on more than 10,000 video games and consoles on a daily basis. Game Trading Technologies, Inc. is based in Hunt Valley, Maryland and its shares are traded on the OTCBB under the symbol 'GMTD'. Additional information is available within Company's website at www.gametradingtechnologies.com or by calling (410) 316-9900.

Forward Looking Statements

This news release includes forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 including statements that reflect Game Trading Technologies' current expectations about its future results, performance, prospects and opportunities. Game Trading Technologies has tried to identify these forward-looking statements by using words and phrases such as "may," "will," "expects," "anticipates," "believes," "intends," "estimates," "plan," "should," "typical," "preliminary," "hope," or similar expressions. These forward-looking statements are based on information currently available to Game Trading Technologies and are subject to a number of risks, uncertainties and other factors that could cause Game Trading Technologies' actual results, performance, prospects or opportunities during the remainder of 2010 and beyond to differ materially from those expressed in, or implied by, these forward-looking statements. These risks are referenced in Game Trading Technologies' current report on Form 8-K, which may be found at www.sec.gov or as may be described from time to time in Game Trading Technologies' subsequent SEC filings.

SOURCE Game Trading Technologies, Inc.