Eiger enters into settlement agreement with former CEO

    TORONTO, Aug. 31 /CNW/ - Eiger Technology, Inc. (TSX: AXA OTCBB: ETIFF)
("Eiger") announces that it entered into a Settlement Agreement with its
former President and CEO, Gerry Racicot, on August 24, 2007. Mr. Racicot
retired as an officer and director of Eiger on April 18, 2007. The Settlement
Agreement and associated documents have been filed on SEDAR (www.sedar.com).

    Eiger Technology, Inc., headquartered in Toronto, Ontario is a publicly
traded company listed on the Toronto Stock Exchange. For more information
please call (416) 216-8659 or refer to www.sedar.com

    The management of the company, who take full responsibility for its
content, prepared this press release. The Toronto Stock Exchange has not
reviewed and does not accept responsibility for the adequacy or accuracy of
this release. This press release contains forward-looking statements relating
to future events and results that are based on Eiger's current expectations.
These statements involve risks and uncertainties including, without
limitation, Eiger's ability to successfully develop and market its products,
consumer acceptance of such products, competitive pressures relating to price
reductions, new product introductions by third parties, technological
innovations, and overall market conditions. Consequently, actual events and
results in future periods may differ materially from those currently expected.

For further information:

For further information: Jason Moretto, President and Chief Operating
Officer, Eiger Technology, Inc., Telephone: (416) 216-8659, Ext. 302,

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