Modbook Inc. Completes Startup Financing

Company Raises Private Capital and Begins Operations at Headquarters in Los Angeles

LOS ANGELES, CALIFORNIA (March 13, 2012) — Modbook Inc., a privately held company focused on developing innovative products and technologies for the creative marketplace, today announced that it has successfully secured private equity funding and thus completed its fundraising efforts for its startup and working capital needs. With its funding in place, the company expects its first product release before the end of the year.

Today’s announcement comes on the heels of the company’s recent agreement with Toronto, Canada-based hardware solutions provider Axiotron Corp. to license certain of its intellectual property.

Modbook Inc. is headed by CEO Andreas E. Haas. Previously, Mr. Haas co-founded Axiotron Corp., where as CEO he successfully took the company public in 2008. He also co-founded infrastructure software company Our World Live, Inc. and served as its executive vice president and chief technology officer. Prior to that, Mr. Haas held several management positions at Apple Inc. (then Apple Computer) in Europe, including managing Apple’s Professional Desktop & Server Systems, its Portable Product Lines and the Newton Systems Group.

“We’re extremely pleased that Modbook Inc. has received all the required financial backing needed to implement its business plan. The team and I can now focus our energies exclusively on turning our vision into exciting products for creative users,” said Mr. Haas.

More information about Modbook Inc. is available at http://www.modbook.com.

About Modbook Inc.

Modbook Inc. seeks to innovate products and technologies that unleash the creative potential in everyone. Privately held, the company and its dedicated team are headquartered in Los Angeles, California, and at http://www.modbook.com.

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