SIMPLEXITY ANNOUNCES MANAGEMENT SUCCESSION; FRANK BENNETT PROMOTED TO CEO

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RESTON, VA. – December 18, 2012 – Simplexity (www.simplexity.com), the leading eCommerce and MVNO solutions provider in the wireless industry, announced today that Frank C. Bennett, III, who has been Simplexity's Chief Operating Officer since the company's inception in 2007, has been promoted to the position of Chief Executive Officer.  He succeeds Andy Zeinfeld, who has resigned to pursue other interests.

Board member Greg Segall, Chief Executive Officer of Simplexity's owner, Versa Capital Management, LLC offered, "We are pleased to have an executive of Frank Bennett's caliber on the team, ready to take the reins and press forward with the company's continuing expansion into the transaction services arena, leveraging its industry leading technology platform.  Frank has been at the center of all key operations and initiatives at Simplexity, and his promotion ensures that the company will not miss a beat through this transition.  We're looking forward to Frank's continued contributions as Simplexity expands its leadership in a number of fast moving and high growth categories.  We appreciate Andy Zeinfeld's commitment and dedication to Simplexity and wish him well in his future endeavors."

Bennett commented, "I am thrilled to take the helm of Simplexity at this exciting time. My colleagues and I are focused on accelerating the rate of growth and change for this dynamic company and its proprietary technology platform. We are deploying Simplexity's wireless services platform in a number of leading-edge retail and MVNX services firms in early 2013.  We are fortunate to have an outstanding team of information technology and eCommerce professionals throughout the company and, with their help, I am confident we will achieve our growth objectives."

Zeinfeld stated, "These last five years with Simplexity have been among the most satisfying and productive of my professional career.  The company is in great hands with Frank as its leader, and I wish him and everyone at Simplexity well as they continue to move the company forward."

Prior to joining Simplexity, Bennett served as Chief Operating Officer and President of the Mobile Virtual Network Enabler division of InPhonic since 2002.  Bennett has also held various leadership positions at Verizon, including Senior Vice President and Group Operations Officer for Verizon's retail group, as well as Vice President, eCommerce and Technology with Verizon's predecessor Bell Atlantic Corporation. Mr. Bennett holds a B.A. from the University of Virginia and an M.B.A. from The Wharton School of the University of Pennsylvania.

About Simplexity
Simplexity is the leading eCommerce and MVNO solutions provider for the wireless industry.  Privately held and based in Reston, Virginia, the company's proprietary platform offers a suite of fully integrated and highly customizable branded wireless solutions.  Simplexity's end-to-end business and technology solutions include comprehensive inventory and rate plan management, order processing, automated activation, online merchandising and knowledgeable and courteous customer care which spans not only consultative selling and order taking but also technical support and dispute resolution.  With an expansive marketing network that includes thousands of custom-branded and co-branded partner websites, affiliate programs and MVNOs, Simplexity builds and powers online storefronts for selling wireless products and services for some of the most recognized brands in the world such as RadioShack, Sears, Target, Kmart, OverStock, TigerDirect, Newegg and Motorola.  Simplexity also owns and operates its own shopping and comparison site for consumers; Wirefly.com, the Internet's largest authorized retailer for cell phones, smartphones and service plans, as well as Simplexity MVNO Services, which offers turnkey and customizable end-to-end customer branded Mobile Virtual Network Operator (MVNO) and Mobile Virtual Network Enabler (MVNE) services.  For more information, visit www.Simplexity.com.

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