Three Melons Closes U$600k Investment

Buenos Aires, March 20th 2009– Three Melons ( www.threemelons.com) announced today the closing of a U$S 600,000 seed round of funding, led by Santander Bank with support from current partners and local angel investors. Three Melons will allocate the funds to continue its growth in the Web and Smartphone gaming space, and extend its product strategy.

“We are very happy and grateful to our investors and look forward to this new stage in the life of our company”, said Mariano Suarez Battan, CEO of Three Melons.“We are confident that we have the passion, experience, talent and technology required to deliver amazing social games to make the world play. We want to put Argentina on the videogames industry map and bring something new to the market."

“We’ve been following Three Melons’ progress for a while and definitely see them as leaders in the online game space supported by a first class client roster” said Agustin Badano, manager of Nexo Emprendedor, Santander Bank.“We foresee a great future given their management team, technological capabilities and the online game products that they plan to launch."

Founded in November 2005, the company started as an advergame specialist and amassed an impressive clientele, developing games for advertisers and media companies such as LEGO, MTV, Disney, Coca-Cola, and Movistar among others. With award-winning advergames, such as LEGO’s Indiana Jones– which had 18 million unique users worldwide - Three Melons was ushered onto the international stage with the credibility to win new businesses and grow.

What’s Next

The new phase involves accelerating the studios' product strategy that started with the launch of Tennis Stars Cup, one of the first Unity3D based games. The studio is now working on a Unity3D Web MMO with a publishing partner and on a Flash sports related multiplayer social game empowered by its Melon Daiquiri development framework, a set of technologies and tools designed to develop high-end, socially enabled, web-based games.

In addition, the company's founders have recently been selected as Endeavor Entrepreneurs ( www.endeavor.org ) due to their high-impact potential, after going through a rigorous selection process, which analyzes hundreds of entrepreneurs in search of the best emerging market role models. Three Melons’ management team will be working with a team from Boston Consulting Group and Endeavor’s network of mentors to further define its expansion and internationalization strategy.

About Santander Bank, Nexo Emprendedor

Banco Santander, S.A., (SAN.MC, STD.N), headquartered in Madrid, engages primarily in commercial banking with complementary activities in global wholesale banking, cards, asset management and insurance. Santander had over EUR 1.168 trillion in funds under management at the close of 2008, from more than 80 million customers served through more than 14,000 offices– more branches than any other international bank. Founded in 1857, Santander is the largest financial group in Spain and Latin America and has a significant presence in Western Europe and in the United Kingdom. In 2008, Santander registered€8,876 million in attributable net profit, an increase of 9% from 2007, excluding capital gains. For more information, see www.santander.com.

Nexo Emprendedor is the venture fund management group of Banco Santander Río (Argentina) that invests in technology startups from Argentine Universities and the local Science&Technology System. Since its constitution in early 2007, Nexo Emprendedor has made 16 investments.

About Three Melons

Three Melons is a leading game studio in Latin America that creates fun, highly polished Web and Smartphone games with a social component. The games are generally free-to-play, with advertising and virtual goods business models. The company has business relations with MTV Networks, LEGO, Disney, and other top media companies, game publishers, advertisers and agencies around the world.

The studio houses top talent in its offices in Buenos Aires, Argentina, and has a business development office in Los Angeles, California.

For more info go to: http://www.threemelons.com or http://twitter.com/threemelons

About Endeavor

Endeavor breaks down barriers that prevent emerging-market entrepreneurs from reaching their high-impact potential. Hailed by NYT columnist Thomas Friedman as the "mentor capitalist" model, Endeavor identifies entrepreneurs leading high-growth innovative companies in emerging markets. These entrepreneurs are given world-class strategic advice, access to key networks and other tools that will catapult them to success. With Endeavor's guidance they become“high- impact”– expanding employment, generating wealth and inspiring others to innovate. Often overlooked, these local entrepreneurs are now jumpstarting private sector development in their countries.

As of 2007, Endeavor Entrepreneurs throughout Latin America, South Africa and Turkey have created over 86,000 new jobs and generated over $2.51 billion in revenues. For more information, visit www.endeavor.org or follow us on http://twitter.com/endeavor_global.

Press Contact

Marina Romanisio

marinar@threemelons.com

+1 (212) 202 1458 x203

+54 11 4878 0130 x203


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