CALGARY, Sept. 25 /PRNewswire-FirstCall/ - Multiplied Media Corporation (TSX-V: MMC) (the 'Company') today announced receipt of notice of termination of their distribution agreement with Idearc Media in the United States. Idearc Media is undertaking a major restructuring of their business to better deal with current economic conditions. Termination is expected to be complete toward the latter part of 2008.

'The Idearc agreement has not been a positive contributor,' said Andrew Osis, interim CEO, Multiplied Media. 'Given Idearc's current condition we did not see the ability to have this make significant positive impact on operations.'

Executives of Multiplied Media have been in negotiations with an alternate directory publisher in the United States and expect to announce a signed agreement in the coming weeks. The agreement is structured differently from that with Idearc and contemplates some of the issues that contributed to its non-performance.

'Business operations and opportunities remain strong even though financing remains a challenge in the current capital markets,' said Osis. 'We have surpassed 100,000 users on the system; have just released a version of the software for the BlackBerry Bold and expect to deliver a beta for the iPhone in the coming month. Development is complete on the German version of Poynt and translation is in progress; pending approval by t-info, our launch into the German market is still on track to take place this fall. I am both cautious and optimistic as we continue to re-calibrate to operate with a lower cost base and lean management of operations while pursuing these opportunities.'

Concurrently, the Company's Board of Directors is evaluating a process to review strategic alternatives to maximize shareholder value. The Board and management are considering a wide variety of alternatives and will make their selection based on what is in the best interest of Multiplied Media Corporation's shareholders.

    About Multiplied Media Corporation
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Multiplied Media Corp. (www.multiplied.com) has developed Poynt (www.mypoynt.com), the first multimedia local search service available over Microsoft's Windows Live Messenger instant messaging network. Through agreements with Yellow Pages Group in Canada and t-info and Infobel in Europe, Poynt simplifies finding and connecting with businesses, retailers and events wherever and whenever it's most convenient for the consumer. Headquartered in Calgary, AB, Canada, Multiplied Media trades on the TSX Venture Exchange under the symbol MMC.

    Forward Looking Statements
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Certain statements in this release, other than statements of historical fact, may include forward-looking information that involves various risks and uncertainties. There can be no assurance that such forward-looking statements will prove to be accurate. Actual result and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change, other than as required pursuant to applicable securities laws.

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

SOURCE Multiplied Media Corporation