July 31, 2008

Advanced Equities Financial Corp. To Utilize Modavox BoomBox(TM) Video for Customized Broadcasting and Communications Network

Modavox, Inc. (OTCBB:MDVX), Internet broadcasting pioneer and holder of several patented technologies, announced today that through the use of its patented BoomBox(TM) Video 2.0 software the company will provide video publication and secure distribution of interactive Internet broadcasts for Advanced Equities Financial Corp. (Advanced Equities). The customized communications solution will aid Advanced Equities' companies in the delivery of high-quality rich media broadcast content to its rapidly growing network of financial advisors.

"Our technologies provide organizations with new and innovative options in terms of how they address their communication needs," said Nathaniel T. Bradley, Chief Technology and Product Officer for Modavox. "Customization is what sets us apart. This project is indicative of the coming trend toward much more sophisticated deployment of Internet-based broadcasting from which growing organizations, in particular, can benefit greatly."

David J. Ide, Modavox Chief Executive Officer stated, "We are very pleased to have solidified this opportunity with Advanced Equities. This highly scalable product offering has the potential to be a key reoccurring revenue driver for Modavox. The model itself is one that may be readily replicated for use within countless organizations seeking to leverage interactive Internet broadcasts for their internal communication needs."

Joel Marks, Chairman and COO of Advanced Equities, said the two companies have a natural synergy. "We recognize the need to continually find innovative ways to support the nearly 1,000 independent business owners affiliated with Advanced Equities," Marks said. "Having the ability to reach our financial advisors via Internet broadcasts provides us with one more avenue through which we can help them grow their businesses."

About Advanced Equities Financial Corp.

Advanced Equities Financial Corp. is a leading provider of investment management, securities brokerage, and venture capital investment banking services through its subsidiaries: First Allied Securities, Inc.; Advanced Equities, Inc.; Advanced Equities Asset Management; and Advanced Equities Wealth Management. Combined, Advanced Equities companies represent one of the nation's top independent brokerage forces with about 1,000 financial advisors administering more than $30 billion in client assets. Their advisors are frequently ranked among the most productive in the financial services industry and have access to an array of products, services and in-house expertise that few firms can rival. For more information, please visit www.advancedequities.com.

About Modavox

Modavox, Inc., the customized communications company is a pioneer in Internet broadcasting, producing and syndicating online audio and video, offering innovative, effective and comprehensive online tools for reaching targeted niche communities worldwide. Through patented Modavox technology, Modavox delivers content straight to desktops and Internet-enabled devices. Modavox provides managed access for live and on-demand Internet radio broadcasting, e-learning and rich media advertising. For more information, please visit www.modavox.com.