Millennial Media Named Winner of Red Herring's List of Top 100 Private Companies

SAN FRANCISCO, CA -- (MARKET WIRE) -- May 2, 2007 -- Red Herring today announced that Millennial Media, the cross-platform mobile advertising company, is a recipient of Red Herring 100 Spring, an award given to the top 100 private technology companies based in North America. Millennial Media provides mobile advertising services that effectively deliver the greatest reach to advertisers, mobile ad revenue to publishers and incremental revenue to mobile operators.

"Having received more than 800 submissions, it is clear that we are witnessing a new outburst of creativity," says Joel Dreyfuss, Editor-in-Chief of Red Herring. "With venture capital flowing again, it's exciting to see technology innovators and business investors collaborate to create disruptive technologies. The Red Herring 100 North America companies are impressive up-and-comers, and definitely the ones to watch."

"We are honored that Red Herring has identified Millennial Media as one of the most promising private companies in North America," said Paul Palmieri, CEO of Millennial Media. "We believe mobile advertising is poised for significant growth, and Millennial Media is well-positioned to lead this market."

Red Herring's editorial staff rigorously evaluated more than 800 private companies through a careful analysis of financial data and subjective criteria, including quality of management, execution of strategy, and dedication to research and development.

Millennial Media's cross-platform technology enables the broadest reach, most effective targeting and most insightful measurement. Its services and technology include:

--  Millennial Marketplace -- A network of premium mobile media properties
    that provides high-value advertising space across all platforms and
    formats, creating opportunities for brand advertisers to drive consumer
    awareness and action.
    
--  Millennial Motion -- Technology and services to deliver rich media
    mobile campaigns that enable brands to create engaging user experiences for
    consumers that combine animation, audio, video, deep interactivity, and
    product experience.
    
--  Decktrade -- A new marketplace for advertisers and publishers that
    operates as a performance-based auction service to meet the immediate
    advertising goals of mobile content providers and direct marketers while
    creating incremental revenue for publishers.
    

Red Herring is a global media company which unites the world's best high technology innovators, venture investors and business decision makers in a variety of forums: a leading innovation magazine, an online daily technology news service, technology newsletters, and major events for technology leaders around the globe. Red Herring provides an insider's access to the global innovation economy, featuring unparalleled insights on the emerging technologies driving the economy. More information about Red Herring is available on the Internet at www.redherring.com.

About Millennial Media

Millennial Media is a mobile advertising company that uses its deep understanding of mobile consumers, technologies and media to deliver advertising solutions to marketers. Our superior mobile ad-serving and optimization technologies also deliver publishers a differentiated way to monetize their mobile content. Millennial Media ad networks meet the diverse needs of advertisers with the premium Millennial Marketplace and Millennial Motion networks, and the best-in-class mobile performance marketplace, Decktrade. For more information visit http://www.millennialmedia.com

Contact Information: Contact: Kristy Cory Double Forte for Millennial Media 503-887-4544 kcory@double-forte.com