Kiwibox Launches Version 2.0 of Teen Social Network & Online Magazine

Site expands traditional social networking platform by integrating editorial
content

NEW YORK, Aug. 5 /PRNewswire/ -- Magnitude Information Systems, Inc.
(Magnitude) (OTC Bulletin Board: MAGY.OB) disclosed today the following
developments concerning Kiwibox, its primary business unit.

Kiwibox (http://kiwibox.com), the first social networking destination and
online magazine where teens produce, discover, and share content while
connecting with friends, today launched Kiwibox 2.0. The latest version of
the site offers enhanced features and functionality that significantly
increases the overall user experience. These new features include:

-- Dynamic new profile pages -- New profiles feature drag and drop
customization, enhanced privacy settings, and personal sub-domains for every
member. Kiwibox members can add widgets for Facebook, MySpace, YouTube,
Flickr, and all of their favorite Kiwibox content.

-- Revamped Points and Prizes -- Members have more ways to earn KiwiPoints by
participating in the social network and contributing editorial content.
Members can redeem these KiwiPoints for an expanded selection of real world
KiwiPrizes from iPods(TM) to Nintendo Wii(TM) and much more.

-- New KiwiGames -- New KiwiGames section offers members double the amount of
cool, fun games to play while connecting and competing with friends.

-- KiwiboxTV -- Exclusive on camera interviews with artists and celebrities by
Kiwibox teen Video Journalists, as well video coverage of red carpet events
brings members one step closer to their favorite celebrities.

-- Enhanced weekly and daily content -- Weekly online magazine is supplemented
by daily and up-to-the-minute entertainment news contributed by members from
around the world.

"Kiwibox provides a positive outlet for teenage expression in an entertaining
and informative environment," said Lin Dai, Chief Executive Officer at
Kiwibox. "Kiwibox 2.0 provides a distinctive new look to the world of social
networking, allowing teens to find their voice for even more creative
expression and information sharing. Members in our community actively engage
with each other around content in ways that aren't possible on other social
networks."

Kiwibox has grown its community organically to more than 1.8 million members.
The company also offers a mobile WAP version of the new site to ensure members
are never out of touch with their friends and their favorite Kiwibox content.

For more information, or to see the latest version of Kiwibox, visit
http://kiwibox.com.

About Kiwibox
Founded in 1999, Kiwibox.com is the first social networking destination and
online magazine where teens produce, discover, and share content. Kiwibox
members are teens in the know who go to Kiwibox to enjoy personalized content
and share their interests with peers. With more than 1.8 million registered
members, Kiwibox provides one of the largest distribution and marketing
channels to connect advertisers with the highly sought after teen audience, in
a controlled and interactive environment. For more information, visit
http://kiwibox.com.

This press release contains certain statements relating to future results,
which are forward-looking statements as that term is defined in the Private
Securities Litigation Reform Act of 1995. These forward-looking statements are
subject to certain risks and uncertainties that could cause actual results to
differ materially from either historical or anticipated results, depending on
a variety of factors. Potential factors that could impact results include the
general economic conditions in different countries around the world,
fluctuations in global equity and fixed income markets, exchange rates, rating
agency actions, resolution of pending regulatory investigations and related
issues, including those related to compensation arrangements with
underwriters, pension funding, ultimate paid claims may be different from
actuarial estimates and actuarial estimates may change over time, changes in
technology and internet developments, commercial property and casualty markets
and commercial premium rates, the competitive environment, the actual costs of
resolution of contingent liabilities and other loss contingencies, and the
heightened level of potential errors and omissions liability arising from
placements of complex policies and sophisticated reinsurance arrangements in
an insurance market in which insurer reserves are under pressure. Further
information, concerning the Company and its business, including factors that
potentially could materially affect the Company's financial results, is
contained in the Company's filings with the Securities and Exchange
Commission.

SOURCE Kiwibox

Todd Barrish, todd@dukaspr.com, or Mike Bush, mike@dukaspr.com, both of Dukas
Public Relations, +1-212-704-7385, for Kiwibox.com; or Lin Dai, Chief
Executive Officer, Kiwibox Media, Inc., +1-212-239-8210