MGT Capital Investments, Inc. Establishes Special Committee to Launch Investigation

MGT Capital Investments MGT announced today that its Board of Directors has established a special committee to investigate potential misappropriation and/or misdirection of Company funds. MGT's majority-owned subsidiary, Medicsight PLC (London AIM: MDST), has also launched a similar investigation. While it is too early to determine the outcome of these investigations or the financial impact, if any, to the Company, management believes that no potential wrongdoing occurred post February 7, 2011, when the current MGT board was constituted and the current MGT officers were appointed. In the event the investigation results in any finding of wrongdoing, the Company plans to pursue recovery and/or restitution to the fullest extent provided by law. However, in such an event, there can be no assurance of any recovery, or that any recovery will exceed the costs of collection, the costs of any litigation (including settlements as well as legal fees) relating to this matter, or any other costs associated with this matter, including but not limited to payment of taxes or fines, and the findings of unreported claims on the Company's assets.