Kangaroo Media files preliminary short form prospectus for a new issue of approximately $20 million


    MONTREAL, June 27 /CNW Telbec/ - Kangaroo Media Inc. ("Kangaroo" or the
"Corporation") today announced that it has filed a preliminary short form
prospectus with the securities regulatory authorities in all provinces of
Canada in connection with a new issue of approximately $20 million of common
shares and a secondary offering of up to 600,000 common shares by a holding
company controlled by Mr. Marc Arseneau, the President and Chief Executive
Officer of Kangaroo.
    The offering will be made through a syndicate of underwriters led by
Raymond James Ltd., and including Desjardins Securities Inc., Loewen,
Ondaatje, McCutcheon Limited, Paradigm Capital Inc., GMP Securities L.P. and
Cormark Securities Inc.
    The Corporation and the selling shareholder have also granted an
over-allotment option to the underwriters, exercisable, in whole or in part,
for a period of 30 days following the closing of the offering, to purchase up
to an aggregate amount of additional common shares on the same terms as the
offering, representing in aggregate, 15% of the number of treasury shares sold
pursuant to the offering, to cover over-allotments, if any.
    The offering is subject to all customary conditions and regulatory
approval, including that of the Toronto Stock Exchange.
    The net proceeds of the offering to the Corporation will be used for
product marketing, operating and capital expenditures, acquisition of
exclusive on-site broadcast rights of sporting events and working capital and
general corporate purposes.
    This news release does not constitute an offer to sell or a solicitation
of an offer to buy any of the securities in the United States. The securities
have not been and will not be registered under the United States Securities
Act of 1933, as amended (the "U.S. Securities Act"), or any state securities
laws and may not be offered or sold within the United States or to United
States Persons unless registered under the U.S. Securities Act and applicable
state securities laws or an exemption from such registration is available.

    About Kangaroo Media

    Kangaroo Media Inc., with its unique product, Kangaroo.TV(TM), gives fans
the superstar experience by letting them create their own live-action sporting
event on-site. Its technology delivers video, audio and data in real-time to
each fan's hand-held Kangaroo TV. The Kangaroo service is a market leader and
currently available in several top tier sports properties, and partnered with
internationally renowned brands. Headquartered near Montreal, Canada, Kangaroo
is listed on the Toronto Stock Exchange (www.tsx.com) as KTV. For more
information visit www.kangaroo.tv.

    Forward-looking statements

    This news release contains forward-looking information. These statements
relate to future events or future performance and reflect management's current
expectations and assumptions. Such forward-looking statements reflect
management's current beliefs and are based on information currently available
to management of Kangaroo. A number of factors could cause actual events,
performance or results to differ materially from the events, performance and
results discussed in the forward-looking statements. These forward-looking
statements are made as of the date hereof and Kangaroo does not assume any
obligation to update or revise them to reflect new events or circumstances.
    %SEDAR: 00019975EF

For further information:

For further information: Kangaroo Media: Claude Michaud, Chief Financial
Officer, (514) 595-2004, (450) 595-2010, cmichaud@kangaroo.tv

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