TORONTO, ONTARIO. – May 3, 2007 – Intertainment Media Inc. (the “Corporation”) and A to Z SPI 4 Inc. (the “Offeror”) are pleased to announce that the Corporation has completed the offering to the Offeror of $1,118,000 of convertible debentures (“Debentures”) and 3,726,294 warrants (the “Warrants”). The Debentures bear interest at a rate of 10% per annum and are convertible into common shares and carry the right to acquire a total of 3,992,857 common shares of the Corporation at a price of $0.28 per common share. The Warrants are exercisable into common shares and carry the right to acquire a total of 3,726,294 common shares of the Corporation at a price of $0.40 per common shares for a period of two years. The offering is subject to final TSX Venture Exchange acceptance. The 7,719,151 common shares that may be issued pursuant to the Debentures and the Warrants represent approximately 14.6% of the issued and outstanding common shares of the Corporation on a partially diluted basis (i.e. where the common shares issuable on the exercise of the Offeror’s Debentures and Warrants are deemed to be outstanding common shares of the Corporation, but no other shares issuable on the exercise or conversion of convertible securities held by persons other than the Offeror are deemed to be outstanding). The Offeror has acquired ownership of the Debentures and Warrants which entitle it to acquire 7,719,151 common shares representing approximately 14.6% of the presently issued and outstanding common shares of the Corporation. Prior to today’s transaction, the Offeror did not own or hold any securities or common shares of the Corporation. Following completion of today’s transaction the Offeror, together with A to Z Capital Corp., hold common shares or the right to acquire 7,946,485 common shares, or approximately 15% of the presently issued and outstanding common shares of the Corporation. The Offeror and A to Z Capital Corp. are each wholly-owned subsidiaries of A to Z Holdco Corp. The securities acquired today by the Offeror were acquired pursuant to a convertible debenture and warrant purchased through a private placement from the Corporation. The Offeror has acquired the securities for investment purposes, and may acquire further common shares, or dispose of its holdings of common shares, both as investment conditions warrant. About Eye Rock Digital The Corporation’s wholly owned US subsidiary Eye Rock Digital Inc. (www.eyerockdigital.com), is a leading edge provider of video on demand, digital content, distribution, advertising and production. Eye Rock Digital aggregates and creates digital content aimed at the young, hip and technologically savvy young adult market. Eye Rock Digital develops programming for simultaneous delivery over broadband and wireless platforms. About Intertainment Media Inc. The Corporation and its divisions, provide proprietary programs for clients to build Brand, Loyalty and Revenues. Working with industry leading firms in the financial sector, real estate, insurance, media, telecommunications, entertainment, electronic gaming, travel, automotive and services sectors, the Corporation initiates proprietary business building solutions that increase customer activity and strengthen customer-vendor relationships. The Corporation maintains a fully integrated creative, web, technology and graphics production facility to service its growing client base, and works with company owned and managed systems with vendors throughout North America and Europe. The Corporation developed proprietary technologies for managing these programs and manufacturing its offerings. Intertainment Media Inc. is headquartered in Richmond Hill, Ontario, Canada. Its shares trade on the TSXV (symbol: INT). The Offeror has its head office in Markham, Ontario. For further information please contact Andrew A. DeFrancesco at (416) 362-8111. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not undertake any duty to update any forward-looking statements. CONTACT: Corporate Inquiries David Lucatch CEO 905-763-3510 Investor Relations CHF Investor Relations Jan Moir, Vice President 416-868-1079, ext 237 jan@chfir.com AGORACOM INT@agoracom.com www.agoracom.com/IR/intertainment