Eloda announces the closing of a private placement

    MONTREAL, Oct. 23 /CNW Telbec/ - Eloda Corporation ("Eloda" or the
"Corporation") (TSX-V: ELA) is pleased to announce the closing of an equity
financing of $654,241.10 through the issue of 13,084,822 common shares at a
price of $0.05 per common share. The proceeds of the financing will be used
for general working capital purposes.
    This financing is subject to the final approval of the TSX Venture
Exchange. Securities issued pursuant thereto are subject to a four-month hold
period which expires on February 24, 2009. A 10% commission on the gross
proceeds of this placement is payable in cash to a person acting as agent for
this private placement.

    About Eloda Corporation

    Eloda Corporation (TSX-V:ELA) is a third party providing a suite of
innovative, effective and user-friendly measurement and validation tools for
the advertising industry. The company is headquartered in Montreal, with an
office in New York City. For more information, visit www.eloda.com.

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

For further information:

For further information: L. Derek Lindsay, Vice President & Chief
Financial Officer; Sonia Ferland, Communications Coordinator, Eloda
Corporation, (514) 842-1513, Fax: (514) 842-4588, invest@eloda.com

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