NEW YORK, June 19, 2012 (GLOBE NEWSWIRE) -- Mount Knowledge Holdings,
Inc. (OTCBB:MKHD), a software development and sales company, announced
that on June 15, 2012, it executed a Letter of Intent (LOI) to merge
with Global Convergence Solutions, Inc. (GCS) of New Jersey, a leading
pioneer in inter-carrier Operational and Business Support Systems (OSS
& BSS) for the worldwide telecommunications marketplace.

Founded in 2006, GCS delivers innovative solutions that address some of
the most complex areas of telecommunications carrier operations, to
some of the world's most dynamic and largest carriers that include:
Earthlink, KDDI, IBasis and Sify.

According to Neal Axelrad, CEO of GCS, "We are thrilled to have the
opportunity to explore a combination of MKHD and GCS that will allow us
to accelerate our growth and address our ongoing capital needs." He
continued, "We believe that this combination provides us with an
opportunity to accelerate our strategic initiatives that we believe
will revolutionize the global telecommunications market for every
carrier."

Jim Beatty, CEO & Chairman of MKHD commented, "Since assuming the
leadership role at MKHD, our team has diligently focused their efforts
on a strategic acquisition plan designed to add value for our
shareholders." He continued, "We are pleased and enthusiastic about the
prospect of a merger with GCS. We believe that the combination of their
high-growth market niche, cutting-edge technologies and GCS' seasoned
management team, form an attractive opportunity for our shareholders."

As a condition of the LOI, both parties agreed to keep confidential
certain terms and conditions of the pending transaction, contingent
upon further negotiations and execution of a "Definitive Agreement", to
be executed on or before July 20, 2012, with a subsequent date of
closing (the "Closing Date"), to be mutually agreed to by both parties.
To date, the parties have not executed a Definitive Agreement and there
is no guarantee or assurance that the parties will execute a Definitive
Agreement.

In pursuit of strategic financial and growth opportunities, GCS
retained Source Capital Group as its investment banking advisor. Neal
Axelrad, "We've known the team at Source Capital for years. They have
been instrumental in helping us arrive at this LOI and we look forward
to working with them as we move forward in this process."

MKHD has retained Chardan Capital Markets, LLC as its investment
banking advisor in the transaction.

GCS will be hosting a web presentation for all interested parties on
Tuesday, June 26th at 5:30pm EDT. Details will be provided on the
company's website.

About Global Convergence Solutions, Inc.

Headquartered in central New Jersey (USA), GCS provides software
solutions to the global telecommunications carrier marketplace. Its
customers include some of the world's largest and most diverse
communications service providers including, Earthlink, Sify, KDDI and
IBasis-KPN. The GCS Dynamic Management Solution suite is a set of
carrier grade tools that automates 95% of the tasks carriers perform
every day. For more information visit: http://www.globalconverge.com

About Mount Knowledge Holdings Inc.

Mount Knowledge Holdings, Inc. is a software development and sales
company focused on providing innovative technology solutions to the
global marketplace.

Forward-Looking Safe Harbor Statement:

This press release, other than historical information, contains
forward-looking statements that are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995, and
are subject to risks and uncertainties. In some cases, you may identify
forward-looking statements by words such as "may," "should," "plan,"
"intend," "potential," "continue," "believe," "expect," "predict,"
"anticipate" and "estimate," the negative of these words or other
comparable words. These statements are only predictions. One should not
place undue reliance on these forward-looking statements. The
forward-looking statements are qualified by their terms and/or
important factors, many of which are outside the Company's control,
involve a number of risks, uncertainties and other factors that could
cause actual results and events to differ materially from the
statements made. The forward-looking statements are based on the
Company's beliefs, assumptions and expectations about the Company's
future performance, taking into account information currently available
to the Company. The Company will update this forward-looking
information only to the extent required under applicable securities
laws. Neither the Company nor any other person assumes responsibility
for the accuracy or completeness of these forward-looking statements.
For a discussion of these risks and uncertainties, please see our
filings with the Securities and Exchange Commission. Our public filings
with the Commission are available from commercial document retrieval
services and at the website maintained by the Commission at
http://www.sec.gov.


CONTACT: James D. Beatty, President / CEO
         Mount Knowledge Holdings, Inc.
         228 Park Avenue S. #56101
         New York, NY 10003-1502
         Telephone - (917) 289-0944
         Facsimile - (917) 289-0941
         www.mkhd.net