Kaboose Completes the Sale of its UK operations to Funds Managed by Barclays Private Equity and its North American Assets to Disney Online



    TORONTO, June 1 /CNW/ - Kaboose Inc. (TSX: KAB), one of the largest
family-focused online media companies in the world, announced that it
completed today the previously announced (i) sale of Kaboose's UK subsidiary,
Kaboose Acquisition (UK) Company, to Romeo Bidco Limited, an affiliate of
Barclays Private Equity Limited, for a purchase price of (pnds stlg)54 million
in cash less third-party debt outstanding at closing which was approximately
(pnds stlg)10 million ("UK Transaction"); and (ii) the sale of substantially
all of its North American assets to Disney Online for approximately $23
million in cash (subject to a working capital adjustment) (the "North American
Transaction").
    Following the completion of a court-approved creditor claims process and
liquidation, pursuant to which Kaboose expects to distribute approximately
$0.65 in aggregate per common share to shareholders, Kaboose will be
dissolved. The first distribution is expected to occur in the third quarter of
2009.
    To the extent that, among other things: (i) transaction and wind-up
costs; (ii) Kaboose's net cash position at closing of the UK Transaction and
North American Transaction; (iii) the absence of unidentified claims; (iv)
working capital of the North American business at the time of closing; or (v)
foreign exchange rates, are different than assumptions made by management,
shareholders may receive aggregate distributions amounting to less than $0.65
per common share. Accordingly, Kaboose can give no assurances as to the total
amount of distributions to shareholders.

    About Kaboose Inc.

    Kaboose Inc. is a global media company fully dedicated to meeting the
needs of moms and their families. Kaboose ranks as one of the world's top five
family destinations and is a respected leader in the online parenting category
in three of the largest English speaking countries - the United States, Canada
and the United Kingdom. Kaboose provides parents with an extensive array of
relevant information, resources, tools and community that support their
efforts during the parenting life cycle. Kaboose's websites include its
award-winning flagship, Kaboose.com, which gives moms the tools they need to
plan an active, healthy and rewarding family life; Bounty, the UK's favourite
parenting club, providing information, support and products for young
families; BabyZone.com, serving the needs of expectant and new moms;
ParentZone.com, a family-focused local resource and event site;
AmazingMoms.com, providing simple and easy solutions for birthday parties,
family crafts and special occasions; and Funschool.com which promotes learning
while helping kids have fun. Kaboose trades on the Toronto Stock Exchange
under the symbol "KAB".

    CAUTION REGARDING FORWARD-LOOKING STATEMENTS

    This document may contain forward-looking statements or future-oriented
financial information (together "forward-looking statements") relating to the
UK Transaction, the North American Transaction, future distributions to
shareholders and the amounts of such distributions, Kaboose's business,
strategy, operations or to the environment in which it operates, which are
based on the Kaboose's current expectations, operations, estimates, forecasts
and projections. While Kaboose considers these expectations, estimates,
forecasts and projections to be reasonable based on information currently
available, they may prove to be incorrect. These statements are not guarantees
of future performance and involve risks and uncertainties that are difficult
to predict, and/or are beyond Kaboose's control. A number of important factors
could cause actual outcomes and results to differ materially from those
expressed in these forward-looking statements, including among other things,
foreign currency exchange rates, interest rates and the nature and extent of
Kaboose's liabilities. For other potential risk factors which may impact
Kaboose, readers are directed to Kaboose's annual information form dated March
31, 2009 for the year ending December 31, 2008, which is available under
Kaboose's profile at www.sedar.com. Readers should not place any undue
reliance on such forward-looking statements. Kaboose disclaims any intention
or obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.





For further information:

For further information: Jonathan Pollack, Chief Financial Officer, TEL:
(416) 593-3000, FAX: (416) 480-2803, www.kabdis.com

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KABOOSE INC.

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