Kangaroo Media Inc. releases financial results for the second quarter of 2007



    
    - Q2 2007 marked by commercialization of Kangaroo.TV at F1 races
    - Revenues of $1.5 million, with more than half generated by F1
      operations
    - Six-month revenues increased by 85% year-over-year to $12 million
    - Strong financial position with liquidity resources of approximately
      $32 million, pro forma share offering
    

    MONTREAL, Aug. 14 /CNW Telbec/ - Kangaroo Media Inc. announced today
results for its second quarter ended June 30, 2007.
    Kangaroo Media second quarter marked the beginning of the
commercialization of Kangaroo's fan experience at F1 races. For the second
quarter ended June 30, 2007, revenues totaled $1.5 million, more than half
generated by F1 operations, and the net loss for the quarter amounted to
$4.2 million ($0.15 per share). For the six-month period ended June 30, 2007,
revenues totaled $12.0 million compared to $6.5 million for the same period
last year, an increase of 85%. As at June 30, 2007, the company's liquidity
resources stood at $13.4 million. On July 24, 2007, the company concluded a
public share offering with net proceeds of approximately $18.6 million raising
the company's liquidity position to approximately $32 million.
    "The second quarter was marked by the commercialization of Kangaroo's fan
experience at F1 races. We are very satisfied with the progress achieved at
F1 races since the beginning of the season. The fan acceptance of our content
and technology is indicative of the market potential" said Marc Arseneau, CEO
of Kangaroo Media. "We continue to focus on delivering our business plan and
consolidating our leadership position in the emerging on-site mobile
broadcasting market. Our goal is to continue growing our addressable market of
spectators by signing additional exclusive on-site broadcasting rights
agreements with the world's top sport properties, and to develop the fan base
of users."

    A conference call on the Q2 2007 results with the financial community is
scheduled for Wednesday, August 15, 2007 at 8:30 a.m. (Eastern). The dial-in
number is 1-800-594-3615 and the media are invited to attend in a
listen-only-mode. The conference call title is "Kangaroo Media Analysts Call -
Q2 2007". A replay of the call will be available starting at 10:30 a.m. on the
day of the call until August 22, 2007. To access the replay, dial
1-877-289-8525 and enter the passcode: 21243522#.

    About Kangaroo Media Inc.

    Kangaroo Media Inc. develops, manufactures, commercializes, sells and
rents hand-held wireless audiovisual multi-functional entertainment systems
that allow users to enhance their on-site viewing experience of sporting
events. Kangaroo Media's unique proprietary technology delivers real-time
video, audio and data content to each fan's hand-held Kangaroo TV device. It
gives fans the ability to create their own live-action sporting event on-site.
Kangaroo Media, headquartered near Montreal, Canada, 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 Media. 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 Media
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, Executive
Vice-President and Chief Financial Officer, (450) 595-2004,
cmichaud@kangaroo.tv; Media Relations: Edelman: Julie Perrier, (514) 844-6665,
ext. 229, julie.perrier@edelman.com

Organization Profile

KANGAROO MEDIA INC.

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