ModusLink Global Solutions CEO to Ring Closing Bell at NASDAQ to Mark Rebranding of the Company

Business Wire, Oct 20, 2008

Significant Milestone Commemorates Leading Position in Supply Chain Business Process Outsourcing

WALTHAM, Mass. -- ModusLink Global Solutions([TM]), Inc. (NASDAQ:MLNK), formerly CMGI([R]), Inc., today announced that Joseph C. Lawler, chairman, president and chief executive officer, will ring the NASDAQ closing bell on Tuesday, October 21, 2008. The ceremony will observe the Company's first month of operating and trading under the new name and ticker.

"We are pleased to have the opportunity to participate in the closing bell ceremony at NASDAQ in order to celebrate the evolution of our business and to thank our employees, customers and shareholders who have continuously supported the Company," Lawler said. "Three weeks ago, we marked a significant milestone; we shed the final layer of our legacy as an Internet operating and development company and completed our transformation into ModusLink Global Solutions, a focused provider of supply chain business process management solutions. This is an important step in our multi-year strategy to build a global business, capable of long-term success."

The ceremony can be viewed live via web cam beginning at 3:50 p.m. EDT at http://www.nasdaq.com/about/marketsitetowervideo.asx.> About ModusLink Global Solutions

ModusLink Global Solutions, Inc. is a leader in global supply chain business process management. The Company executes critical processes for clients in the consumer electronics, high technology and communications industries to provide competitive differentiation and enable new channel and new market opportunities. An integrated portfolio of supply chain business process outsourcing and technology solutions span four core competencies: supply chain, aftermarket, e-Business and entitlement management. ModusLink Global Solutions has headquarters in Waltham, Massachusetts and more than 30 facilities in 13 countries - giving it the largest global footprint in the industry. For additional information, visit www.moduslink.com.

This release contains forward-looking statements, which address a variety of subjects including, for example, expected future growth, the further execution of the Company's strategic business plan and impact of that plan, prospects for growth, the expected impact of strategic initiatives, the expected benefit of the Company's global footprint and financial performance. All statements other than statements of historical fact, including without limitation, those with respect to the Company's goals, plans, expectations and strategies set forth herein are forward-looking statements. The following important factors and uncertainties, among others, could cause actual results to differ materially from those described in these forward-looking statements: the Company's success, including its ability to improve its cash position, expand its operations and revenue, lower its costs, improve its gross margins, sustain profitability, reach its long-term objectives and operate optimally, depends on its ability to execute on its business strategy and the continued and increased demand for and market acceptance of its services; global economic conditions, especially in the technology sector are uncertain and subject to volatility; demand for our clients' products may decline or may not achieve the levels anticipated by our clients; the Company's management may face strain on managerial and operational resources as they try to oversee the expanded operations; the Company may not be able to expand its operations in accordance with its business strategy; the Company's cash balances may not be sufficient to allow the Company to meet all of its business and investment goals; the Company may experience difficulties integrating technologies, operations and personnel in accordance with its business strategy; the Company derives a significant portion of its revenue from a small number of customers and the loss of any of those customers could significantly damage the Company's financial condition and results of operations; the Company frequently sells to its supply chain management clients on a purchase order basis rather than pursuant to contracts with minimum purchase requirements, and therefore its sales and the amount of projected revenue that is actually realized are subject to demand variability; risks inherent with conducting international operations; and increased competition and technological changes in the markets in which the Company competes. For a detailed discussion of cautionary statements that may affect the Company's future results of operations and financial results, please refer to the Company's filings with the Securities and Exchange Commission, including the Company's most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q. Forward-looking statements represent management's current expectations and are inherently uncertain. We do not undertake any obligation to update forward-looking statements made by us.

CMGI is a registered trademark and ModusLink Global Solutions is a trademarks of ModusLink Global Solutions, Inc.