Digicorp to Change Name to China Youth Media and Tap into World's Largest Youth Market

MARINA DEL REY, Calif.--(BUSINESS WIRE)--Digicorp, Inc. (OTCBB:DGCO - News) , a China focused youth marketing and media company, announced that certain initiatives, including a name change, have been ratified by shareholders.

On September 10, 2008, shareholders representing a majority of the voting securities of Digicorp gave their written consent to change the name of the company from "Digicorp, Inc." to "China Youth Media, Inc." The Corporate Name Change is expected to become effective by approximately October 15th, at which time the Company will trade under a new symbol.
"The steps we have taken better reflect our shift in business strategy," commented Digicorp CEO Jay Rifkin. "By changing our corporate name to China Youth Media, our business, our mission and our message are aligned."

In June 2008, Digicorp entered into a 20 plus 10 year Cooperation Agreement for exclusive advertising and media rights with China Youth Net, which positions Digicorp to market to China's 45 million, upwardly mobile college students, with direct access online, on campus and via mobile. As China Youth Media, the Company plans to offer advertisers and corporations direct and centralized access to this highly desirable but hard-to-reach demographic through a dedicated campus IPTV network, campus events and advanced mobile marketing.

To date, Digicorp has entered into various content supply agreements, including ones with New China Media, Yes TV (Hong Kong) Limited and Footprint Worldwide. The Company continues to seek out other major as well as youth niche content sources to broaden further its campus network offerings.

"We have an exceptional and unique partnership with the powerful Chinese government agency, China Youth Net, which oversees Internet activity for China's student population of more than 70 million young people between the ages of 14 and 28," commented Mr. Rifkin. "Our new corporate name, China Youth Media, better reflects the significance of this asset."

About Digicorp, Inc.

Digicorp, Inc. is a China focused youth marketing and media company whose business is to deliver advertising and content to one of the most sought after and fastest growing demographics in the world. Through its wholly owned subsidiary Youth Media (Hong Kong) Limited, Digicorp is engaged in the business of providing advertisers and corporations with direct and centralized access to China's massive but hard-to-reach student population.

Forward-Looking Statements

This press release contains certain forward-looking statements. These forward-looking statements can generally be identified as such because the context of the statement will include words such as Digicorp ``expects,'' ``should,'' ``believes,'' ``anticipates'' or words of similar import. Stockholders, potential investors and other readers are cautioned that these forward-looking statements are predictions based only on current information and expectations that are inherently subject to risks and uncertainties that could cause future events or results to differ materially from those set forth or implied by the forward-looking statements. Certain of those risks and uncertainties are discussed in the Digicorp filings with the Securities and Exchange Commission, including Digicorp's annual report on Form 10-KSB and quarterly reports on Form 10-Q. These forward-looking statements are only made as of the date of this press release and Digicorp does not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
SOURCE: Digicorp, Inc.

Digicorp, Inc.
Sophia Kim, 310-728-1457
info@DGCOinc.com
www.dgcoinc.com
or
Investor Relations:
American Capital Ventures
Rich Hull, 305-918-7000
info@amcapventures.com
www.amcapventures.com