Multiplied Media announces strategic alternatives review and operations update



    CALGARY, Sept. 25 /CNW/ - Multiplied Media Corporation (TSX-V: MMC) (the
"Company") today announced receipt of notice of termination of their
distribution agreement with Idearc Media in the United States. Idearc Media is
undertaking a major restructuring of their business to better deal with
current economic conditions. Termination is expected to be complete toward the
latter part of 2008.
    "The Idearc agreement has not been a positive contributor," said Andrew
Osis, interim CEO, Multiplied Media. "Given Idearc's current condition we did
not see the ability to have this make significant positive impact on
operations."
    Executives of Multiplied Media have been in negotiations with an
alternate directory publisher in the United States and expect to announce a
signed agreement in the coming weeks. The agreement is structured differently
from that with Idearc and contemplates some of the issues that contributed to
its non-performance.
    "Business operations and opportunities remain strong even though
financing remains a challenge in the current capital markets," said Osis. "We
have surpassed 100,000 users on the system; have just released a version of
the software for the BlackBerry Bold and expect to deliver a beta for the
iPhone in the coming month. Development is complete on the German version of
Poynt and translation is in progress; pending approval by t-info, our launch
into the German market is still on track to take place this fall. I am both
cautious and optimistic as we continue to re-calibrate to operate with a lower
cost base and lean management of operations while pursuing these
opportunities."
    Concurrently, the Company's Board of Directors is evaluating a process to
review strategic alternatives to maximize shareholder value. The Board and
management are considering a wide variety of alternatives and will make their
selection based on what is in the best interest of Multiplied Media
Corporation's shareholders.

    
    About Multiplied Media Corporation
    ----------------------------------
    
    Multiplied Media Corp. (www.multiplied.com) has developed Poynt
(www.mypoynt.com), the first multimedia local search service available over
Microsoft's Windows Live Messenger instant messaging network. Through
agreements with Yellow Pages Group in Canada and t-info and Infobel in Europe,
Poynt simplifies finding and connecting with businesses, retailers and events
wherever and whenever it's most convenient for the consumer. Headquartered in
Calgary, AB, Canada, Multiplied Media trades on the TSX Venture Exchange under
the symbol MMC.

    
    Forward Looking Statements
    --------------------------
    
    Certain statements in this release, other than statements of historical
fact, may include forward-looking information that involves various risks and
uncertainties. There can be no assurance that such forward-looking statements
will prove to be accurate. Actual result and future events could differ
materially from those anticipated in such statements. These and all subsequent
written and oral forward-looking statements are based on the estimates and
opinions of management on the dates they are made and expressly qualified in
their entirety by this notice. The Company assumes no obligation to update
forward-looking statements should circumstances or management's estimates or
opinions change, other than as required pursuant to applicable securities
laws.

    
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.
    





For further information:

For further information: Andrew Osis, Interim CEO, CFO & Director,
Multiplied Media Corporation, (403) 313-3719, andrew.osis@multiplied.com;
MEDIA CONTACTS: Margaret Glover-Campbell, Director, Communications, Multiplied
Media Corporation, (403) 313-3719, margaret.glover-campbell@multiplied.com

Organization Profile

MULTIPLIED MEDIA CORPORATION

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