SOURCE: SNAP Interactive, Inc.

 

NEW YORK, NY--(Marketwire - March 12, 2009) - SNAP Interactive, Inc. ("SNAP" or the "Company") (OTCBB: STVI), a leading provider of online dating applications for social networking websites, announced today that, in an effort to consolidate operations and enable pending growth, it has signed a three-year lease on a new office location in New York City; the lease is effective April 1, 2009.

The new SNAP headquarters is a 3,400 square foot space in Midtown Manhattan, one block from Madison Square Garden.

"Much more than just an administrative move, this strategic decision represents a graduation of sorts for SNAP," stated Company President and CEO Clifford Lerner. "Since Day One we have kept our overhead to the bare minimum, opting to first demonstrate market acceptance of our model and stretch our existing resources to their utmost before adding additional expenses. Recently the existing opportunities before us have made expansion not just viable but 100% necessary. We are pleased with our progress, more than doubling our programming capacity in the past six months and as a result, we have outgrown our existing facilities as we move forward in 2009. The new office gives us the chance to consolidate our operations, work more effectively as a team and accommodate additional expansion and new hires, while providing a sense of long-term stability in the marketplace.

To be added to the SNAP investor email list, please email justin.davis@cirrusfc.com with STVI in the subject line.

About SNAP Interactive, Inc.

Incorporated in Delaware and headquartered in New York, SNAP Interactive, Inc. is a leading provider of online dating applications for social networking websites. SNAP has developed two dating applications built on Facebook® Platform which have in excess of 16 million installations, and has also launched dating applications on MySpace Developer Platform & Hi5 Developer Platform. Our applications are called 'Are You Interested,' 'Meet New People,' and 'Flirt With Me.'

For more information visit www.snap-interactive.com.

Facebook® is a registered trademark of Facebook Inc.

Forward-Looking Safe Harbor Statement:

This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. There are a number of factors that could cause actual results and developments to differ materially from forecasted results. These risks and uncertainties include product demand, market competition, fluctuations in advertising payouts, delays in application development, technical issues beyond our control, reliance on the various platforms that we build applications on, and risks inherent in our operations. For a discussion of these risks and uncertainties, please see our filings with the Securities and Exchange Commission. Our public filings with the SEC are available from commercial document retrieval services and at the website maintained by the SEC at http://www.sec.gov. All traffic statistics are recent averages.