Multiplied Media reports 2008 year-end results



    CALGARY, April 30 /CNW/ - Multiplied Media Corporation (TSX-V: MMC) (the
"Company"), a Calgary-based provider of local search services, today reported
results for its fourth quarter and year ended December 31, 2008.
    The Company achieved many milestones in 2008. Its flagship mobile
product, Poynt for BlackBerry smartphones, launched in June of 2008, and since
then has received consumer and industry accolades. Continued development has
increased ease of use and added features such as streaming movie trailers. The
most significant events for the Company occurred in the fourth quarter: Poynt
was awarded the Grand Prize in the BlackBerry Developers Challenge, resulting
in increased exposure and consumer acceptance. Discussions began with Lycos,
Inc. to integrate Poynt into Lycos's WhoWhere.com people search engine which
resulted in a signed agreement. A mobile agreement with Yellow Pages Group was
signed in December, earning revenue from Canadian searches on the Poynt
application.
    "The Company's main focus throughout 2008 was development and deployment
of our first mobile solution, Poynt for BlackBerry smartphones," said Andrew
Osis, CEO, Multiplied Media. "The application launched in June and user growth
steadily increased throughout the year to reach close to 250,000 users today.
We have achieved great success to date with this deployment of Poynt. We are
looking forward to continued growth and success as we expand onto additional
mobile devices, add features, and increase geographic availability."
    Additional agreements were put in place in 2008 to secure European data
feeds in preparation for the coming geographic expansion, among them an
agreement with T-Info (now SEARCHTEQ) to integrate their local search,
www.suchen.de, into the Poynt platform to deliver mobile local search in
Germany.
    In September, Andrew Osis was named Chief Executive Officer of the
Company and John Lowe stepped into the role of President.
    Subsequent to December 31, an agreement with OpenTable, Inc. was signed
to deliver real-time dining reservations to Poynt users. The agreement with
Lycos to integrate Poynt local search into the WhoWhere.com people search
engine was finalized and the new service launched in February. The Company
also entered into a mobile distribution agreement with Idearc Media Corp.
(Superpages.com). The agreement became effective immediately and has resulted
in revenue generation from U.S. searches.
    Many opportunities exist within the mobile space where the Company has
turned its focus. Development continues on the mobile application with the
added functionality of restaurant and white pages search expected in the near
term. Development and testing of the German deployment of Poynt for BlackBerry
smartphones is nearing completion, and expected to launch in the coming weeks.

    
    -------------------------------------------------------------------------
         Summary Results of Operations for the year ended December 31
    -------------------------------------------------------------------------
                                                       2008          2007
    -------------------------------------------------------------------------
    Total Revenue                                      $69,768        $7,138
    -------------------------------------------------------------------------
    Net loss from operations                        $7,029,353    $5,062,277
    -------------------------------------------------------------------------
    Loss per share - Basic                              $(0.11)       $(0.10)
    -------------------------------------------------------------------------
    Total assets                                      $653,779    $6,610,620
    -------------------------------------------------------------------------
    Total liabilities                                 $754,060      $638,543
    -------------------------------------------------------------------------
    Outstanding Shares - Basic                      72,558,296    59,978,296
    -------------------------------------------------------------------------
    Outstanding Shares - Fully Diluted              72,558,296    66,777,079
    -------------------------------------------------------------------------
    

    Revenues for the year ended December 31, 2008 were $69,768 compared to
$7,138 for the same period in 2007. Net loss for the year ended December 31,
2008 was $7,029,353 or $0.11 per basic share, compared to a net loss of
$5,062,277 or $0.10 per basic share in 2007. Fourth quarter loss was
$2,596,246, which included a non-cash write down of $2,029,448, compared to
$1,664,242 for the same period of the prior year.

    
    About Multiplied Media Corporation
    ----------------------------------
    

    Multiplied Media (www.multiplied.com) has developed the award-winning
application Poynt (www.mypoynt.com), the local search service available over
BlackBerry smartphones. Through agreements with Yellow Pages Group in Canada,
Idearc Media (Superpages.com) in the United States and t-info and Infobel in
Europe, Poynt simplifies finding and connecting with businesses, retailers and
events wherever and whenever it is 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.

    
    Neither TSX Venture Exchange nor its Regulation Services Provider (as
    that term is defined in the policies of the TSX Venture Exchange) accepts
    responsibility for the adequacy or accuracy of this release.
    





For further information:

For further information: Andrew Osis, CEO & Director, Multiplied Media
Corporation, (403) 444-4102, andrew.osis@multiplied.com

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MULTIPLIED MEDIA CORPORATION

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