TORONTO, ONTARIO--(Marketwire - Oct. 28, 2008) - ZoomerMedia Limited (formerly Fifty-Plus.Net International Inc.) (TSX VENTURE:ZUM - News) today announced the financial results for the year ended June 30, 2008.

On December 28, 2007, Olympus Management Limited ("OML"), a private Ontario corporation, acquired control of Fifty-Plus.Net International Inc. ("FPN") through a reverse take-over ("RTO").

As a result of the RTO, the former shareholders of Kemur Publishing Co. Ltd. ("Kemur") (i.e. OML) acquired control of FPN. Under the purchase method of accounting Kemur has been identified as the acquirer, and, accordingly, the entity is considered to be a continuation of Kemur with the net assets of FPN at the date of the RTO deemed to have been acquired by Kemur. Since the RTO is accounted for as a reverse take-over, the income statement figures up until the date of the RTO (i.e. December 28, 2007) are solely those of Kemur. As the RTO was completed on December 28, 2007, the results of FPN for the period from the date of the RTO's closing (i.e. December 28, 2007) to December 31, 2007 are not material and have not been included in the statement of income. The income statement for the year ended June 30, 2008 includes the operations of Kemur for the six months ended December 31, 2007 and the consolidated operations of Kemur and FPN for the six months ended June 30, 2008. The comparative figures for last year are solely those of Kemur. On June 10, 2008, Kemur was continued as a Federal corporation and changed its name to ZoomerMedia Limited. On July 1, 2008, FPN and its wholly owned subsidiaries Fifty-Plus.Net Inc and ZoomerMedia Limited amalgamated and will carry on business under the name ZoomerMedia Limited.

For the year ended June 30, 2008, The Company had revenue of $6,725,494 and expenses of $7,833,010 with a net loss after income taxes of $1,107,516. For the year ended June 30, 2007, The Company had revenue of $4,763,873 and expenses of $4,455,526 with a net income after tax of $308,347. Magazine advertising revenue was $2,961,838 versus $2,981,094 for last year. This decrease of $19,256 (0.6%) is primarily the result of revenues lost during the restructuring the magazine's sales and marketing department during the third quarter of this year. Subscription revenue was $1,534,973 versus $1,582,395 for last year. This decline of $47,422 (3.0%) is attributable to the moderate decline in the magazine subscriber base. Sundry revenue was $177,835 versus $129,813 for last year. This increase of $48,022 (37.0%) is due primarily to interest earned on investments during the year. Website revenue of $816,634 and royalty revenue of $1,234,214 was earned in the current year. Comparative figures for these two revenue categories for last year are not contained in these consolidated financial statements as the comparative figures are those of Kemur.

Administration expenses for the year ended June 30, 2008 were $823,686 versus $636,313 for the comparable period last year, an increase of $187,373 (29.4%) due to the inclusion of the administration costs pertaining to the website that are not included in the comparative figures for last year as the comparative figures are those of Kemur.

Amortization expenses for the year ended June 30, 2008 were $559,410 versus $32,933 for last year due to the inclusion of the amortization of $333,334 pertaining to the amortization of the CARP Royalty Rights and $174,016 pertaining the amortization of the Intangible Assets that are not included in the comparative figures for last year as the comparative figures are those of Kemur.

Circulation expenses the year ended June 30, 2008 were $261,333 versus $246,719 for the comparable period last year, an increase of $14,614 (5.9%) due to a direct mail expenditure of $25,561 during the fourth quarter while no such expenditure was incurred last year and the reduction of circulation costs due to the elimination of amounts paid to FPN Subco effective December 31, 2007 for subscriptions received via the Internet.

Editorial expenses the year ended June 30, 2008 were $1,134,504 versus $829,935 for last year, an increase of $304,549 (36.7%) due to personnel restructuring costs associated with the RTO during the second quarter and additional personnel hires in the third and fourth quarters for the re-launch of the magazine.

Production expenses for the year ended June 30, 2008 were $1,627,120 versus $1,732,641 for last year, a decrease of $105,521 (6.1%) as a result of printing and distributing fewer copies of the magazine due to the slight decline in the subscription base.

Royalties expense for the year ended June 30, 2008 was $813,011 versus $143,303 for last year. The increase occurred during the third and fourth quarters and is due to the obligations assumed on the acquisition of the CARP Royalty Rights as described above.

Sales expenses the year ended June 30, 2008 were $1,254,744 versus $652,982 for last year, an increase of $601,762 (92.2%) . This variance is attributable to $83,769 of costs incurred in the development of a prototype of Zoomer Magazine and the inclusion of sales costs of $602,690 during the third and fourth quarters for website sales and CARP marketing initiatives that are not included in the comparative figures for the comparable quarter last year, as the comparative figures are those of Kemur, net of savings for sales salaries realized in the fourth quarter for contracting out sales representation of the magazine.

For the year ended June 30, directors fees of $34,000, management fees of $300,745, professional fees of $139,400, stock option expenses of $184,000 and website expenses of $971,068 were incurred. Comparative figures for these expense categories for last year are not contained in these consolidated financial statements as the comparative figures are those of Kemur.

As at June 30, 2008, the Company had cash and short term deposits on hand of $2,233,536 and working capital (excluding the current portion of deferred revenue) of $2,887,318 (2007 - $1,814,824).

About ZoomeMedia Limited

ZoomerMedia Limited (ZUM) publishes ZOOMER magazine, the largest paid circulation magazine in Canada for the mature market. Published nine time a year, ZOOMER magazine has a paid circulation of approximately 190,000 and places a further 50,000 copies on newsstands.

ZUM also derives royalty revenues through the provision of exclusive marketing and membership services to CARP, A New Vision of Aging for Canada.

(ZUM) is also Canada's leading provider of online content targeting the 45+ age group. Altogether, the portfolio of web sites and electronic newsletters delivers over 2 million pages views per month. The key property is www.50plus.com, delivering a wide range of information, entertainment, community (forums, dating, blogs) and commerce together with four electronic newsletters (health, money, travel, lifestyle), each of which has over 120,000 opt-in subscribers.

ZUM also produces and manages www.carp.ca, the online home of CARP. With 350,000 members, CARP is Canada's largest association for the 45+. In addition, ZUM has recently launched www.nomorewaiting.info, a web site focusing on CARP's advocacy campaign, "No More Waiting," which aims to influence governments to improve health care performance. ZUM also produces CARP Action Online, an electronic newsletter for CARP members.

Cautionary note on forward-looking statements

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Certain statements made in this report are 'forward-looking statements' which may include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain the words 'believe', 'anticipate', 'expect', 'estimate', 'project', 'will be', 'will continue', 'will likely result' or similar words or phrases. Forward-looking statements involve risks and uncertainties, which may cause actual results to differ materially from the forward-looking statements. The risks and uncertainties are detailed from time to time in filings by ZoomerMedia Limited with provincial securities commissions. New risk factors emerge from time to time and it is not possible for management to predict all such risk factors, nor can it assess the impact of all such risk factors on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Such risks, uncertainties and other factors include, but are not limited to, the following:

- the risks inherent in the operation of Internet media properties generally;

- the limited cash flow and the Corporation's dependency on a few large customers;

- the competition in the Internet and media industry for the baby boom generation's business;

- the risks associated with governmental regulation of internet businesses;

- the risk of future legal claims made by or against the Corporation.

- the risk of managing the current revenue growth rate;

- the dependence of the business on the continuing operation of its computer systems; and

- the dependence on key personnel.

Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results.

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