Eloda Corporation announces results for fiscal 2006

    MONTREAL, April 30 /CNW Telbec/ - Eloda Corporation, ("Eloda" or the
"Company") (TSX-V: ELA), today announced its results for the fiscal year ended
December 31, 2006.
    Revenues amounted to $224,685 compared to $238,442 in 2005. This
represents a light decrease from the previous fiscal year.
    Loss before financial expenses, income tax, depreciation, and
amortization (EBITDA)(1) stood at $4,939,306 compared to $2,350,179 for the
previous year. The increase was due primarily to a rise in operating expenses
following the launch of the Company's products and services and investments
made in 2006 to accelerate the Company's growth.
    Net losses totalled $5,167,999 or $0.10 per share in 2006, against
$2,412,679 or $0.07 per share in 2005.

                                                2006        2005        2004
                                                   $           $           $
    Revenues                                 224,685     238,442     112,440
    EBITDA(1)                             (4,938,306) (2,350,179) (1 362,632)
    LOSS                                  (5,167,999) (2,412,679) (1,253,417)
    Basic and diluted loss per share           (0.10)      (0.07)      (0.14)

    In the course of the preparation of its annual financial statements,
Eloda determined that the capitalized development costs, future income tax
assets, and investment tax credits for the periods ended December 31, 2001,
December 31, 2002, and December 31, 2003 should have been expensed. The
Company has therefore restated its deficit as of December 31, 2004. Also, as a
result, the Company will restate its interim quarterly results as of
September 30, 2006, such restatement to be released on or about the release
date of its interim results as of March 31, 2007.

    About Eloda Corporation

    Eloda Corporation is an independent third party providing a suite of
innovative, effective and user-friendly measurement and validation tools for
the advertising industry. Using its proprietary technology, Eloda is the first
company to offer a new generation of capture-index-verify applications that
allow for occurrence proof-of-performance without the traditional need for
pre-encoding. Founded in 2000, Eloda now employs 40 people. The company is
headquartered in Montreal, with sales offices in Toronto, New York and Chicago
with a U.S. operations center in Parsippany, New Jersey. The company offers
its TV ad proof-of-performance services to advertisers and agencies in both
Canada and the United States. Eloda Corporation's securities are traded on
Canada's TSX Venture Exchange under the symbol ELA.

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

    (1) Definition of EBITDA: Earnings (loss) before financial expenses,
    income tax, depreciation, and amortization. EBITDA is presented as an
    additional measurement of earnings to help readers determine the
    Company's capacity to generate liquidity from its activities and defray
    its financial expenses. It is also an indicator that is widely used for
    evaluation purposes. Because this term has no standardized meaning under
    Canadian generally accepted accounting principles, it may not be
    comparable to similar measurements used by other companies.

For further information:

For further information: Eloda Corporation: Jean Charles Dupuis, CEO,
(514) 842-1513, Fax: (514) 842-4588, jcdupuis@eloda.com; Sonia Ferland,
Communications Coordinator, (514) 842-1513, Fax: (514) 842-4588,
invest@eloda.com; Renmark Financial Communications Inc.: Jason Roy,
jroy@renmarkfinancial.com; Maurice Dagenais, mdagenais@renmarkfinancial.com;
(514) 939-3989, Fax: (514) 939-3717; www.renmarkfinancial.com

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