Melt Inc. Completes Private Equity Financing

Proceeds to Support Company's Rapid Growth and Franchise Expansion

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| Source: Melt Inc.

LAGUNA HILLS, Calif., Oct. 24, 2006 (PRIMEZONE) -- Melt Inc. (OTCBB:MLTC), owner, operator and franchisor of quick service restaurants operating under the name "Melt Gelato & Crepe Cafe," has completed a private equity financing with existing shareholders. Proceeds from the financing will be used for working capital as the Company continues to execute its aggressive franchise expansion plan across the U.S.

Pursuant to this private financing, Melt Inc. sold approximately 920,000 restricted shares of Common Stock together with Warrants to purchase approximately 460,000 shares of Common Stock. The shares of Common Stock were sold at a price of $0.75 per share, providing the Company $690,000 in gross proceeds. The Warrants have an exercise price of $0.90 per share if issued in the first year. If issued within the second year, the Warrants have an exercise price of $1.00.

The securities issued in this private placement will not be registered under the United States Securities Act of 1933 as amended, and may not be offered or sold in the United States absent to a registration or an applicable exemption from registration requirements of the Securities Act of 1933.

There was no investment bank or financial advisor used in this transaction on behalf of Melt Inc. The Company's management team arranged and closed the transaction.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the notes or warrants. This press release is being issued in accordance with Rule 135c under the securities Act of 1933, as amended.

To learn more about Melt Inc. please visit the Company's corporate Web site at www.meltgelato.com.

About Melt Inc.

Melt Inc., and its subsidiaries, are in the business of owning, operating and franchising quick service restaurants marketed under the name "Melt Gelato & Crepe Cafe." The Company's main product offerings include Italian gelato and sorbetto, sweet and savory crepes, gourmet Italian cafe, and nutritious smoothies made from 100% crushed fruit.

The Melt concept leverages the universal appeal and enormous volume of ice cream sales and consumption in the United States and around the world. Melt provides its customers with a unique purchase experience in a European atmosphere. Gelato is an authentic Italian dessert that has been popular for hundreds of years in Europe where it is available on almost every street corner. The gelato industry in the United States is in its infancy and Melt has the opportunity to dominate this rapidly growing niche industry.

Melt offers its franchisees dedicated support through marketing and merchandising tools, excellent product and streamlined operational procedures that make running a Melt franchise an exciting and rewarding business experience. Since being founded in 2003 after years of research and development, Melt has rapidly grown from one store to thirty (open and under construction) with major expansion plans ahead. Melt Inc. is headquartered in Laguna Hills, California.

Safe Harbor Statement

Certain statements in this release are "forward-looking" and as such are subject to numerous risks and uncertainties. Actual results may vary significantly from the results expressed or implied in such statements. Factors that could cause actual results to differ materially amongst other risks and uncertainties include Melt's ability to sell further franchises, the impact of competition, the ability to find suitable retail locations, additional capital needs and other risks outlined in Melt's quarterly reports on Form 10-QSB, annual reports on Form 10-KSB and Melt's other disclosure documents filed from time-to-time with the Securities and Exchange Commission.

Melt Inc.
Clive Barwin
(310) 601-7907


The Investor Relations Group
Kevin Murphy
(212) 825-3210