Espial announces completion of strategic alternatives process

OTTAWA, Nov. 18, 2011 /CNW/ - Espial Group Inc. ("Espial" or the "Company") (TSX:ESP) today announced the completion of its previously announced exploration of strategic alternatives. As previously announced, the Company's strategic review was conducted under the leadership of the Independent Special Committee of the Board of Directors and undertaken with this committee's financial advisor, Morgan Keegan. After careful consideration of alternatives, the Company has determined that shareholders' interests will be best served by continuing to operate as a stand-alone entity.

About Espial

Espial is a leading supplier of digital TV and IPTV software and solutions to service providers in the cable, telecommunications, hospitality and consumer electronics industries. Espial's products include middleware, video-on-demand and browser solutions help implement diverse pay-TV and Internet TV business models. Over 10 million licenses of its patented software are in use across the world. Espial is headquartered in Ottawa, Canada and has offices in the United States, Europe and Asia.

Forward Looking Information

This press release contains information that is forward looking information with respect to Espial within the meaning of Section 138.4(9) of the Ontario Securities Act (forward looking statements) and other applicable securities laws. In some cases, forward-looking information can be identified by the use of terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or the negative of these terms or other similar expressions concerning matters that are not historical facts. In particular, statements or assumptions about anticipated market trends, economic conditions, benefits of new customer and partner relationships, future opportunities for the company and products and any other statements regarding Espial's objectives (and strategies to achieve such objectives), future expectations, beliefs, goals or prospects are or involve forward-looking information.

Forward-looking information is based on certain factors and assumptions. While the company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. Forward-looking information, by its nature necessarily involves known and unknown risks and uncertainties. A number of factors could cause actual results to differ materially from those in the forward-looking statements or could cause our current objectives and strategies to change, including but not limited to changing conditions and other risks associated with the on-demand TV software industry and the market segments in which Espial operates, competition, Espial's ability on a stand-alone basis to effectively develop its distribution channels and generate increased demand for its products, economic conditions, technological change, unanticipated changes in our costs, regulatory changes, litigation, the emergence of new opportunities, many of which are beyond our control and current expectation or knowledge. Additional risks and uncertainties affecting Espial can be found in Management's Discussion and Analysis of Results of Operations and Financial Condition for the fiscal year ended December 31, 2010 filed on SEDAR at www.sedar.com. If any of these risks or uncertainties were to materialize, or if the factors and assumptions underlying the forward-looking information were to prove incorrect, actual results could vary materially from those that are expressed or implied by the forward-looking information contained herein and our current objectives or strategies may change. Espial assumes no obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof.

SOURCE ESPIAL GROUP

For further information:

For further information visit www.espial.com or contact Carl Smith, Chief Financial Officer, at 613-230-4770

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ESPIAL GROUP

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