Multimedia - Italmedia agreements

    TORONTO, Jan. 8 /CNW/ - Multimedia Nova Corporation (the "Company" or
"Multimedia") (TSXV-MNC.A) announced that Italmedia s.r.l ("Italmedia") has
given notice that it proposes that various agreements with the Company be
extended to January 31, 2008. The Company had previously advised Italmedia
that the Company intends to renew all agreements except the Management
Agreement whereas Italmedia, in disputing Multimedia's view that the
Concession Agreement is separate and apart from the Management Agreement, is
asserting that the various service agreements have also been terminated. The
Company is considering its various options.

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

For further information:

For further information: Lori Abittan, President and Chief Executive
Officer, at (416) 785-4300 ext. 218, Fax (416) 785-4303, e-mail:

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