Singapore OpCo Bid Awarded to Rival Bidder



    
    /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
    DISSEMINATION IN THE UNITED STATES/
    

    CALGARY, April 3 /CNW/ - Axia NetMedia Corporation ("Axia" or the
"Corporation") announced today that its IntelliNet consortium was unsuccessful
in winning the contract for the Operating Company for Singapore's Next
Generation National Broadband Network ("NGNBN"). The Infocomm Development
Authority of Singapore awarded the contract to StarHub.
    As a result of the foregoing, the 11,500,000 subscription receipts
previously issued by the Corporation on March 24, 2009 shall be automatically
terminated and cancelled (except in respect of the holder's right to receive
payment hereunder) as of the date hereof and each receiptholder shall be
entitled to receive the subscription price in respect of each of such holder's
subscription receipts and their pro rata share of the interest earned on the
funds deposited in escrow in association therewith, less applicable
withholding taxes, if any. The funds are expected to be returned to the
holders on or about April 7, 2009.

    Axia provides Real Broadband(TM) IP services and solutions through
planning, designing and operating no conflict Open Access Next Generation
Networks. Axia has networks in Alberta, France and Singapore. Axia trades on
the Toronto Stock Exchange under the symbol "AXX".

    This News Release contains forward looking statements, including, without
limitation, statements containing the words "should", "believe", "anticipate",
"may", "plan", "will", "continue", "intend", "expect", "estimate" and other
similar expressions which constitute "forward looking information" within the
meaning of applicable Canadian securities laws. These statements are based on
our current expectations, estimates, forecasts and assumptions about the
operating environment, economies and markets in which we operate and are
subject to important assumptions, risks and uncertainties that are difficult
to predict. Examples of these statements would include those where Axia
forecasts its success and timing in winning new OAN NextGen contracts, the
timing of completion and estimated total costs of these networks, the revenues
and operating costs associated with these networks over time, and Axia's
ability to generate future cash flows and avail itself of other financing
alternatives given current market conditions. The assumptions, risks and
uncertainties that could cause actual results to differ materially from the
forward looking information, include, but are not limited to, changes in
customer markets, changes in demand for our services, our inability to deliver
services in a timely and cost efficient manner, technological change, general
economic conditions and other risks detailed from time to time in our ongoing
filings with the Canadian securities regulatory authorities, including those
in our Annual Information Form, which filings can be found at www.sedar.com.
Given these assumptions, risks and uncertainties, readers are cautioned not to
place undue reliance on such forward looking statements. Unless otherwise
required by applicable securities laws, we undertake no obligation to publicly
update or revise any forward looking statements either as a result of new
information, future events or otherwise.

    %SEDAR: 00002394E




For further information:

For further information: please visit Axia's website at www.axia.com, or
contact: Dawn Tinling, VP, Investor Relations and Communications, Axia
NetMedia Corporation, (403) 538-4074, dawn.tinling@axia.com

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Axia NetMedia Corporation

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