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PhotoChannel Networks Inc.: PhotoChannel Update

^{Published on 2008-12-19 05:56:12 - Market Wire}
 

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 19, 2008) - PhotoChannel Networks Inc. (TSX VENTURE:PN)(OTCBB:PNWIF) ("PhotoChannel" or "PNI" or "Company") the leading innovator in digital media solutions for retailers today announces that due to the proximity to the holidays, the Company will be releasing its audited financial statements for its fourth quarter and year ending September 30, 2008 on Tuesday, January 13, 2009, at which time the Company will provide an update on numbers from the holiday season. A conference call will be held at 4:30 pm EST on January 13, 2009.

To access the conference call, investors should dial 888-300-0053 or 647-427-3420 and quote ID # 79055296. Please call 10 minutes prior to the scheduled start time. PhotoChannel will also offer a live and archived webcast, available at: [ www.photochannel.com/webcast ].

"The company has seen the strong growth of Q4 continue through October, November and now into December," stated Kyle Hall, CEO of PhotoChannel. "In the face of a difficult economy, we are fortunate to see increased demand for photos and photo related products. During October and November 2008 we saw the number of orders processed through our network increase by 181% and 209%, respectively, compared to the same months of 2007 and continue to see this trend into December. For Q4 we achieved our stated goal of being cash flow positive."

The Company reports that Simon Bodymore, the Company's Director of Finance, has been promoted and appointed to the role of Vice President of Finance. Previous to PhotoChannel, Mr. Bodymore was a senior manager with PriceWaterhouseCoopers.

Also as a normal course of business, the Company has granted 50,000 options to Scott Brownstein a director of the Company.

About PhotoChannel- Founded in 1995, PhotoChannel operates PNI Digital Media to provide services for major retailers, wireless carriers and content providers. The PNI Digital Media Platform connects consumer ordered digital content with retailers that have on-demand manufacturing capabilities for the production of merchandise. PNI Digital Media generates transactions for retailers and their thousands of locations worldwide. For more information please visit [ www.photochannel.com ].