MONTREAL, June 13, 2011 /CNW Telbec/ - iWeb Group Inc. (TSXV: IWB) ("iWeb"), a global provider of Internet hosting services and IT infrastructure, announces that its shareholders (the "Shareholders") today approved, at a special meeting (the "Meeting"), iWeb's previously-announced amalgamation (the "Amalgamation") under a merger agreement with 7807201 Canada Inc. and 7807210 Canada Inc., two corporations controlled directly or indirectly by Novacap Technologies III, L.P., Caisse de dépôt et placement du Québec and an investment vehicle affiliated with Bank Street Capital Partners and certain of their affiliates.

The Shareholders also approved the delisting of iWeb's common shares (the "Shares") from the TSX Venture Exchange.

The Amalgamation was approved at the Meeting by 99.99% of the votes cast by all shareholders and by 99.98% of the shareholders other than interested parties in the Amalgamation. No Shareholders exercised their dissent rights.

Pursuant to the Amalgamation, each Shareholder will receive one redeemable preferred share of the amalgamated company for each Share held immediately prior to the Amalgamation. Each such redeemable share will be redeemed immediately upon the Amalgamation for a cash consideration of $1.50. Subject to satisfaction of customary conditions, it is anticipated that the Amalgamation and the transactions contemplated thereby will close on or about June 16, 2011.

For more information on the Amalgamation, see iWeb's news releases of March 4 and May 3, 2011.

About iWeb

iWeb provides Internet hosting services and IT infrastructure to nearly 24,000 customers in 150 countries. With its four data centers, iWeb's total capacity has reached 34,000 dedicated servers, over 1,100 co-location cabinets and 77 Gigabits per second (Gbps) of Internet connectivity, from 9 separate providers.

One of Canada's 100 fastest growing companies according to PROFIT Magazine, iWeb now generates more than 60% of its revenues, which reached US$29 millions in 2010, from abroad. Founded in 1996 in Montreal, iWeb shares are traded on the TSX Venture Exchange under the symbol "IWB".

About Novacap

With over $750 million in assets under management, Novacap is one of Canada's leading private equity and venture capital firms. Since 1981, its partnership strategy has helped over 50 companies accelerate growth and maximize value. Novacap is one of North America's top private equity firms, with first-quartile returns in North America. Further information about Novacap is available at www.novacap.ca.

About Caisse de dépôt et placement du Québec

The Caisse de dépôt et placement du Québec is a financial institution that manages funds primarily for public and private pension and insurance plans. As at December 31, 2010, it held $151.7 billion in net assets. As one of Canada's leading institutional fund managers, the Caisse invests in major financial markets, private equity and real estate.

About Bank Street Capital Partners

Bank Street Capital Partners is a private equity fund focused on growth equity, acquisition finance, and special situations for small and mid-size growth companies in the Communications, Media and Technology sectors. Bank Street Capital Partners is led by a senior investment team that has originated, structured, and executed more than 1,000 financial and strategic transactions during the course of their careers. Bank Street Capital Partners leverages the extensive resources of The Bank Street Group.

Forward-Looking Statements

Except for historical information provided herein, this press release contains "forward-looking statements" within the meaning of the applicable securities legislation regarding the proposal to privatize iWeb, including the statement regarding the terms of the proposed transaction. Therefore, readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of iWeb to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements in this press release. These risks and uncertainties include, but are not limited to, the satisfaction of the conditions to consummate the Amalgamation, the occurrence of any event, change or other circumstances that could give rise to termination of the Merger Agreement, a delay in the consummation of the Amalgamation or failure to complete the Amalgamation for any other reason, the amount of the costs, fees, expenses and charges related to the Amalgamation, and the risks associated with general economic conditions. The forward-looking statements in this press release are made as of the date of this press release and, except as required by law, iWeb disclaims any obligation to update or revise publicly any forward-looking statements, whether as a result of new information or future events.


For further information:

Philip Tousignant
Chief Financial Officer
iWeb Group Inc.
(514) 286-4242 ext. 2149

Bernard Dahl
Investor Relations / Media Relations
(514) 802-2801

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