“itiBiti is offering brands and users a number of unique offerings that enhance the overall social media experience. Wicked’s Suba Games platform gives users value and exciting game play and an ongoing revenue stream for itiBiti,” said Mr. David Lucatch, President of Itibiti Systems and CEO of Intertainment.

According to a report from DFC Intelligence the Top 10 Money-Making MMO’s of 2008 generated over $1.4 Billion in revenues. DFC’s research also suggests that the worldwide online game market is forecasted to grow from $3.4 billion in 2005 to over $13 billion in 2011. Massively Multiplayer Online Role-Playing Games (MMO’s) allow thousands of users to interact with one another in a virtual world, by assuming ongoing roles or characters with diverse features. This style of game allows for thousands of players to socially interact with one another as they grow and develop their own unique online identity providing a virtual fictional experience that millions of people worldwide enjoy.

Through the internet, video games have evolved into a social and community-based experience and Wicked Interactive’s business model and its Suba Games Lineup exemplify this emerging trend. The Suba Games portal provides online users with Free-to-download and Free-to-play MMO games and features titles including fantasy MMORPG’s Priston Tale and Metin2, military shooter, Cross Fire, and futuristic 3D Space Shooter, ACE Online. Though all players can play for free indefinitely if they choose, they also have the option of making micro-transaction purchases within the games. These transactions can enhance their gameplay experience, which in turn result in revenues for Wicked and ItiBiti.

“With our highly active community of users, this new partnership will provide Wicked greater reach to extend our unique Suba Games experience to a wider audience,” said Mr. Garvin Yeung, CEO of Wicked.

itiBiti and Wicked will make the Suba Games portal available to all itiBiti clients.

###

About Wicked Interactive
Wicked Interactive Ltd. is a leading North American video game publisher, founded in 2008, and based out of Toronto, Canada. Through its Suba Games platform, www.subagames.com, Wicked Interactive has created a centralized destination where North American gamers can access a range of Massively Multiplayer Online (MMO) game experiences. The Wicked Interactive mission is to provide an exciting and robust MMO game experience that is free and enjoyable to everyone.

About SUBA GAMES
Suba Games is host to a collection of the best free MMO games available. A Suba Games account provides unified access to all Suba Games’ free online titles including, Metin2, Cross Fire, ACE Online, Priston Tale, and the upcoming Priston Tale 2. All Suba Games titles operate on a unified currency. Suba Games supports engrossing social functions and community features. Visit www.subagames.com to enjoy the Suba Games experience.

About Itibiti Systems Inc.
Itibiti Systems’ platform, itiBiti, is a revolutionary, instant revenue driven, Rich Internet Application (RIA) providing entertainment, communications and social networking initiatives displayed directly onto a user’s computer desktop – providing major global brands with the unprecedented ability to power their social media and marketing efforts within a unique, private label loyalty and revenue platform. itiBiti offers users a rich suite of services in combination with brand client initiatives, and the Microsoft Windows Live platform. Users have the ability to access itiBiti using their Windows Live ID, giving them direct access to a number of Microsoft services. Itibiti Systems is currently in the planning stage for a mobile version of its product offerings.

About Intertainment
Intertainment Media Inc. (www.intertainmentmedia.com) is a Rich Media Applications leader, focused on delivering leading edge technology and marketing solutions enabling clients to power enhanced branding, loyalty initiatives and consumer engagement. Selected as a Microsoft Global Agency Initiative partner, Intertainment has joined an elite group of interactive agencies worldwide that Microsoft recommends to its Partners and Customers.

Additionally, Intertainment owns, operates and invests in high value content, traffic management, advertising and social networking solutions including, Eye Rock Digital (www.eyerockdigital.com), No Good TV (www.ngtv.com), View2gether Inc. (www.view2gether.com), Itibiti Systems Inc. (www.itibitisystems.com) and Magnum Fine Commercial Printing Limited (www.magnumprinting.com).

Headquartered in Richmond Hill, Ontario, Canada, Intertainment Media Inc. is listed on the Toronto Venture Exchange under the symbol “INT”.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain information set forth in this press release contains forward-looking statements. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company's control, including the impact of general economic conditions, industry conditions, volatility of oil and gas prices, currency fluctuation, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and ability to access sufficient capital from internal and external sources. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Actual results, performance or achievement could differ from those expressed in, or implied by, these forward-looking statements, and accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits will be derived there from. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Investor Communications:
Buchalter Consulting
1-866-631-6537
Stan.Buchalter@BuchalterConsulting.ca

Online Investor Relations Hub:
AGORACOM
INT@Agoracom.com
http://www.agoracom.com/IR/intertainment


Intertainment Corporate Inquiries:
David Lucatch, CEO
905-763-3510

Wicked Interactive Ltd..
Garvin Yeung, CEO
416-331-8226

TORONTO, CANADA, June 23, 2009 - Intertainment Media Inc. (“Intertainment” or the “Company”) (TSXV:INT) announces today that it has closed its previously announced $2 Million asset purchase acquisition (the “Transaction”) providing the Company’s wholly owned subsidiary, Itibiti Systems Inc. (“Itibiti Systems”), with full rights to all legacy technology and intellectual property assets (the “Technology”) as disclosed in press releases dated March 3, 2009 and May 5, 2009. The Company has provided $1.2 Million at closing with the balance to be paid over the next ten months. The Transaction provides Itibiti Systems with full interest in all facets of itiBiti, as it continues to execute its business strategies and accelerate its rollout plan.

Called “the next generation of integrated social media applications” by Microsoft Corp., itiBiti provides major brand partners with a full feature, revenue generating, turn-key platform integrating consumers and fans, or “clusters”, into a robust and engaging desktop based private label social media enterprise. Over the past few months, ItiBiti has showcased major brand programs as a Microsoft Global Agency Partner at a number of high profile industry events. itiBiti is continuing to negotiate and execute agreements with major business brands and technology partners and will provide updates accordingly.

“Intertainment has been diligently working on the development and deployment of the itiBiti platform for the past 2 years, creating “cluster” based social media programs for its major brand partners. In the marketplace, itiBiti has created significant excitement within the global technology and marketing communities. With the completion of this Transaction, we will continue to execute our “live” business strategy, working to create long-term revenues and value for all our stakeholders,” stated Mr. David Lucatch, president of Itibiti Systems and CEO of Intertainment.

Pursuant to the Transaction, Itibiti Systems paid the vendor at closing $1.2 Million, consisting of $400,000 in cash and 8,000,000 units (“Units”) of the Company issued at a deemed price of $0.10 per Unit. Each Unit consists of one common share (“Share”) and one Share purchase warrant (“Warrant”) with an exercise price of $0.10 per Warrant and an expiry date of two years from the date of issuance. The Shares and Warrants are to be released over a period of 16 months pursuant to a voluntary escrow agreement with the vendor. Itibiti Systems has also provided the management team of the Technology Transaction with a minimum one-year consulting contract to provide ongoing development and integration services.

Under the terms of the agreement governing the Transaction, Itibiti Systems will pay the vendor an additional $800,000 in cash over the next 10 months (the “Post-Closing Payments”). Following completion of the Post Closing Payments, Itibiti Systems will own the full legal title to the Technology. The vendor shall receive revenue sharing payments from Itibiti Systems in the amount of 25.88% of all Itibiti Systems revenue until completion of the Post-Closing Payments, and for each of the 5 years following completion of the Post-Closing Payments, the seller shall receive revenue sharing payments in the amount 5.75%, 2.88%, 2.88%, 2.88% and 1.44% respectively, of all Itibiti Systems revenue.

Pursuant to the press release of May 5, 2009, the Company would also like to announce that Mr. Michael McLaughlin is joining the Board of Directors of Intertainment. Mr. McLaughlin is an advertising and broadcast industry veteran and has previously worked for Omnicom Media Group, where he served for eight years as an Executive Vice President within the Entertainment Group responsible for sales and marketing to the Canadian broadcasting community. Prior to Omnicom, Mr. McLaughlin spent 15 years with CanWest Global in numerous positions including Production, Programming and Sales.

About Itibiti Systems Inc.

Itibiti Systems’ platform, itiBiti, is a revolutionary, instant revenue driven, Rich Internet Application (RIA) providing entertainment, communications and social networking initiatives displayed directly onto a user’s computer desktop – providing major global brands with the unprecedented ability to power their social media and marketing efforts within a unique, private label loyalty and revenue platform. itiBiti offers users a rich suite of services in combination with brand client initiatives, and the Microsoft Windows Live platform. Users have the ability to access itiBiti using their Windows Live ID, giving them direct access to a number of Microsoft services. Itibiti Systems is currently in the planning stage for a mobile version of its product offerings.

About Intertainment

Intertainment Media Inc. ( target="_blank">www.eyerockdigital.com), No Good TV ( target="_blank">www.itibitisystems.com) and Magnum Fine Commercial Printing Limited (

Stan.Buchalter@BuchalterConsulting.ca

Online Investor Relations Hub:

AGORACOM

INT@Agoracom.com

www.agoracom.com/IR/intertainment

Corporate Inquiries:

David Lucatch, CEO

905-763-3510

The Company and Itibiti Systems continue to execute their business plans as detailed in the news releases announced over the past several months.

The Company also announces it is issuing 1,000,000 options to purchase common shares (“Options”) to third party consultants of the Company. Each Option will have an exercise price of $0.10 per share and will expire 2 years from the date of issuance.

About Itibiti Systems Inc.
Itibiti Systems’ platform, itiBiti, is a revolutionary, instant revenue driven, Rich Internet Application (RIA) providing entertainment, communications and social networking initiatives displayed directly onto a user’s computer desktop – providing major global brands with the unprecedented ability to power their marketing efforts within a unique, private label loyalty and revenue platform. itiBiti offers users a rich suite of services in combination with brand client initiatives, and the Microsoft Windows Live platform. Users have the ability to access itiBiti using their Windows Live ID, giving them direct access to a number of Microsoft services. Itibiti Systems is currently in the planning stage for a mobile version of its product offerings.

About Intertainment
Intertainment Media Inc. (www.intertainmentmedia.com) is a Rich Media Applications leader, focused on delivering leading edge technology and marketing solutions enabling clients to power enhanced branding, loyalty initiatives and consumer engagement. Selected as a Microsoft Global Agency Initiative partner, Intertainment has joined an elite group of interactive agencies worldwide that Microsoft recommends to its Partners and Customers.

Additionally, Intertainment owns, operates and invests in high value content, traffic management, advertising and social networking solutions including, Eye Rock Digital (www.eyerockdigital.com), No Good TV (www.ngtv.com), View2gether Inc. (www.view2gether.com), Itibiti Systems Inc. (www.itibitisystems.com) and Magnum Fine Commercial Printing Limited (www.magnumprinting.com). Headquartered in Richmond Hill, Ontario, Canada Intertainment Media Inc. is listed on the Toronto Venture Exchange (symbol: INT).

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain information set forth in this press release contains forward-looking statements. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company's control, including the impact of general economic conditions, industry conditions, volatility of oil and gas prices, currency fluctuation, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and ability to access sufficient capital from internal and external sources. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Actual results, performance or achievement could differ from those expressed in, or implied by, these forward-looking statements, and accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits will be derived there from. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Investor Communications:
Buchalter Consulting
1-866-631-6537
Stan.Buchalter@BuchalterConsulting.ca

Online Investor Relations Hub:
AGORACOM
INT@Agoracom.com
www.agoracom.com/IR/intertainment

Corporate Inquiries:
David Lucatch, CEO
905-763-3510

The Offering will consist of units of Intertainment ("Units") at a subscription price of $0.11 CDN per Unit, consisting of one (1) common share with one (1) common share purchase warrant ("Warrant), having an exercise price of $0.16 CDN and being valid for two (2) years from the date of closing.

The pricing of the Offering is consistent with Intertainment's announcement on May 5, 2009 confirming that interest in its wholly owned subsidiary Itibiti Systems Inc.'s proposed debenture offering of $4 Million CDN has exceeded the maximum available under that financing.

The funds will be used for working capital and corporate purposes, including support for the launch of the Company's core and divisional programs.

"The Company continues to garner strong interest from the financial investment community as it accelerates its business model and launches its Private Label Social Media application - itiBiti," stated Mr. David Lucatch, CEO of Intertainment Media Inc.

About Itibiti Systems Inc.

Itibiti Systems' platform, itiBiti, is a revolutionary, instant revenue driven, Rich Internet Application (RIA) providing entertainment, communications and social networking initiatives displayed directly onto a user's computer desktop - providing major global brands with the unprecedented ability to power their marketing efforts within a unique, private label loyalty and revenue platform. itiBiti offers users a rich suite of services in combination with brand client initiatives, and the Microsoft Windows Live platform. Users have the ability to access itiBiti using their Windows Live ID, giving them direct access to a number of Microsoft services. Itibiti Systems is currently in the planning stage for a mobile version of its product offerings.

About Intertainment

Intertainment Media Inc. (www.intertainmentmedia.com) is a Rich Media Applications leader, focused on delivering leading edge technology and marketing solutions enabling clients to power enhanced branding, loyalty initiatives and consumer engagement. Selected as a Microsoft Global Agency Initiative partner, Intertainment has joined an elite group of interactive agencies worldwide that Microsoft recommends to its Partners and Customers.

Additionally, Intertainment owns, operates and invests in high value content, traffic management, advertising and social networking solutions including, Eye Rock Digital (www.eyerockdigital.com), No Good TV (www.ngtv.com), View2gether Inc. (www.view2gether.com), Itibiti Systems Inc. (www.itibitisystems.com) and Magnum Fine Commercial Printing Limited (www.magnumprinting.com). Headquartered in Richmond Hill, Ontario, Canada Intertainment Media Inc. is listed on the Toronto Venture Exchange (symbol: INT).

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.

FOR FURTHER INFORMATION PLEASE CONTACT:

Investor Communications:
Buchalter Consulting
1-866-631-6537
Stan.Buchalter@BuchalterConsulting.ca

or

Online Investor Relations Hub:
AGORACOM
INT@Agoracom.com
www.agoracom.com/IR/intertainment

or

Corporate Inquiries:
David Lucatch
CEO
905-763-3510

http://www.intertainmentmedia.com/it...

Feel free to comment on the presentation or any other facet of the business of Intertainment Media. AGORACOM encourages constructive dialogue regarding Intertainment on the discussion forum.

AGORACOM Investor Relations

TORONTO, CANADA, May 5, 2009 - Intertainment Media Inc. (“Intertainment” or the “Company”) (TSXV:INT) announced today that its wholly owned subsidiary Itibiti Systems Inc. (“Itibiti Systems”) has received confirmed investment interest and subscription agreements which exceeds by 300% the $3 Million CDN maximum offering previously approved by the TSX Venture Exchange (the “Exchange”) and announced March 4, 2009 (the “Offering”).

Pursuant to this investment interest, the Company has now increased the maximum amount of the Offering to $4 Million CDN. Itibiti Systems is evaluating the offers that will be used to accelerate the live launch of its voice powered social networking platform (“itiBiti”) for its showcase brands. Itibiti Systems has not yet closed or filed any subscription agreements received pursuant to the Offering.

“We are extremely pleased to receive the ongoing support of itiBiti’s technology and marketing partners as this has resulted in showcase opportunities with some of the world’s largest and most influential brands,” stated Mr. David Lucatch, President of Itibiti Systems Inc. and CEO of Intertainment Media Inc. “Although it has taken time for the investment community to appreciate itiBiti and its revenue generating, next generation social media application, the confirmed investment interest which exceeds the original offering, given recent market conditions, is a significant achievement.”

The $4 Million Offering will consist of Itibiti Systems convertible debentures ("Debentures") at a subscription price of $50,000 CDN per Debenture which, unless otherwise authorized, will be payable at 15% interest per year, paid semi-annually. Each Debenture will be convertible into the Debenture holder’s choice of either (a) units of Intertainment ("Units") at a conversion price of $0.11 per Unit with each Unit consisting of one common share of Intertainment (“Intertainment Shares”) and one Intertainment Share purchase warrant ("Warrant"), such Warrant having an exercise price of $0.16 and being valid for two (2) years from the date of conversion of the debenture into Intertainment Shares, or (b) common shares of Itibiti Systems (“Itibiti Shares”) upon the occurrence of a Liquidity Event (as defined below) whereby each $0.70 of principal amount outstanding under the Debentures can be converted into one Itibiti Share. A “Liquidity Event” is the occurrence of an event whereby Itibiti Systems is listed for trading on a public stock exchange or whereby substantially all of the assets or securities of Itibiti Systems are sold or amalgamated.

The Offering will be led by Toronto based D&D Securities Company. The Company will pay eligible parties 8% commission in cash and provide an option to purchase up to 8% of the Debentures sold at the subscription price of the Offering for a period of 18 months from the date of completion of the Offering.

Further to the announcement of March 3, 2009, the Company wishes to provide an update on the proposed offer to purchase all the outstanding legacy assets and intellectual property of its business partner, Itibiti Inc. (the “Offer”). The Offer is in the stages of final negotiations and is expected to close concurrently with, or shortly after, the closing of the Offering. Under the terms of the Offer extended and as negotiated, Itibiti Systems would receive the exclusive right to purchase all outstanding legacy systems, assets, technology rights and intellectual property of Itibiti Inc. Such right shall be purchased over a maximum period of 10 months (the “Interim Period”). The consideration issued to Itibiti Inc. shall be $1,200,000 CDN (the “Cash Payment”) and 8,000,000 units of Intertainment (“Offer Units”). $400,000 of the Cash Payment is to be paid upon the closing of the Offer and the remainder is to be paid in stages over 10 months. The Offer Units will be issued at a deemed price of $0.10 per Offer Unit with each Offer Unit consisting of one Intertainment Share and one Intertainment Share purchase warrant (“Offer Warrant”), such Offer Warrant having an exercise price of $0.10 and being valid for two (2) years from the date of issuance. The Offer Units will be subject to a voluntary escrow agreement to be entered into between the parties allowing for the release of the Offer Units to Itibiti Inc. in increments over a period of 16 months. In addition, Itibiti Inc. shall receive a percentage of revenues from the operations of Itibiti Systems for a period of five years from the date of the closing of the Offer (the “Revenue Sharing Payments”), such Revenue Sharing Payments equating to 25.88% of revenue until the later of either the full completion of the Cash Payment or the full completion of the Interim Period, 5.75% in the year following such, 2.88% over the subsequent three years and 1.44% in the final year.

In addition, concurrent with the closing of the Offer, Michael McLaughlin will be appointed as a director of Intertainment, subject to board and Exchange approval.

About Itibiti Systems Inc.
Itibiti Systems’ platform, itiBiti, is a revolutionary, instant revenue driven, Rich Internet Application (RIA) providing entertainment, communications and social networking initiatives displayed directly onto a user’s computer desktop – providing major global brands with the unprecedented ability to power their marketing efforts within a unique, private label loyalty and revenue platform. itiBiti offers users a rich suite of services in combination with brand client initiatives. Itibiti Systems is currently in the planning stage for a mobile version of its product offerings.

About Intertainment
Intertainment Media Inc. (www.intertainmentmedia.com) is a Rich Media Applications leader, focused on delivering leading edge technology and marketing solutions enabling clients to power enhanced branding, loyalty initiatives and consumer engagement.

Additionally, Intertainment owns, operates and invests in high value content, traffic management, advertising and social networking solutions including, Eye Rock Digital (www.eyerockdigital.com), No Good TV (www.ngtv.com), Trooker Inc. (www.trooker.com), Itibiti Systems Inc. (www.itibitisystems.com) and Magnum Fine Commercial Printing Limited (www.magnumprinting.com).

Headquartered in Richmond Hill, Ontario, Canada Intertainment Media Inc. is listed on the Toronto Venture Exchange (symbol: INT).

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.

Investor Communications:
Buchalter Consulting
1-866-631-6537
Stan.Buchalter@BuchalterConsulting.ca

Online Investor Relations Hub:
AGORACOM
INT@Agoracom.com
www.agoracom.com/IR/intertainment

This non-equity agreement, from a private Toronto based group, is to provide immediate access to working capital as the company completes the $3 Million debenture financing (“Offering”) announced on March 3rd, 2009. The funding group has the option to convert into the Offering and the Company may choose to issue fewer convertible debenture units than the maximum proposed.

This announcement provides a launch update to previous strategic releases with our technology and business partners. Over the past month, itiBiti has showcased at South by Southwest, MIX09 and Web 2.0, and the product has received significant interest from major technology and consumer product brands. Itibiti Systems’ clients, including a major US broadcaster, will begin their own publicity programs including a rollout schedule within the next 30 days.

“The Company is extremely pleased to begin the roll out phase of its highly-demanded Voice Powered Social Networking platform - itiBiti. Our clients and partners are very excited to be part of this revolutionary new high margin, instant revenue-generating program. We are continuing to see progress in our funding efforts as daily news reports help investors recognize the significant impact that Social Media is making to the business world,” said Mr. David Lucatch, CEO of Intertainment Media Inc.

The $3 Million Offering will consist of Itibiti Systems convertible debentures ("Debentures") at a subscription price of $50,000 CDN per Debenture which, unless otherwise authorized, will be payable at 15% interest per year, paid semi-annually. Each Debenture will be convertible into the Debenture holder’s choice of either (a) units of Intertainment ("Units") at a conversion price of $0.11 per Unit with each Unit consisting of one common share of Intertainment Media Inc. (TSXV: INT) and one INT common share purchase warrant ("Warrant"), such Warrant having an exercise price of $0.16 and being valid for two (2) years from the date of conversion of the debenture into shares of Intertainment Media Inc., or (b) common shares of Itibiti Systems (“Itibiti Shares”) upon the occurrence of a Liquidity Event (as defined below) whereby each $0.70 of principal amount outstanding under the Debentures can be converted into one Itibiti Share. A Liquidity Event is the occurrence of an event whereby Itibiti Systems is listed for trading on a public stock exchange or whereby substantially all of the assets or securities of Itibiti Systems are sold or amalgamated.
The Offering will be led by Toronto based D&D Securities Company. The Company will pay eligible parties 8% commission in cash and provide an option to purchase up to 8% of the Debentures sold at the subscription price of the Offering for a period of 18 months from the date of completion of the Offering.

About Itibiti Systems Inc.
Itibiti Systems’ platform, itiBiti, is a revolutionary, instant revenue driven, Rich Internet Application (RIA) providing entertainment, communications and social networking initiatives displayed directly onto a user’s computer desktop – providing major global brands with the unprecedented ability to power their marketing efforts within a unique, private label loyalty and revenue platform. itiBiti offers users a rich suite of services in combination with brand client initiatives. Itibiti Systems is currently in the planning stage for a mobile version of its product offerings.

About Intertainment
Intertainment Media Inc. (www.intertainmentmedia.com) is a Rich Media Applications leader, focused on delivering leading edge technology and marketing solutions enabling clients to power enhanced branding, loyalty initiatives and consumer engagement.

Additionally, Intertainment owns, operates and invests in high value content, traffic management, advertising and social networking solutions including, Eye Rock Digital (www.eyerockdigital.com), No Good TV (www.ngtv.com), Trooker Inc. (www.trooker.com), Itibiti Systems Inc. (www.itibitisystems.com) and Magnum Fine Commercial Printing Limited (www.magnumprinting.com).

Headquartered in Richmond Hill, Ontario, Canada Intertainment Media Inc. is listed on the Toronto Venture Exchange (symbol: INT).

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.

Investor Communications:
Buchalter Consulting
1-866-631-6537
Stan.Buchalter@BuchalterConsulting.ca

Online Investor Relations Hub:
AGORACOM
INT@Agoracom.com
www.agoracom.com/IR/intertainment

Last night at South by Southwest, one of the world’s largest entertainment conventions in Austin, TX, Intertainment Media debuted itiBiti, its revolutionary voice powered social networking platform.

On hand were industry professionals, agencies, media and key people from Microsoft. The reaction was excellent and we’ve already made some important contacts for brand introductions (revenue) and senior executives at Microsoft’s US marketing group.

Our debut program focused on NBC.com and itravel2000.com, our first 2 programs.

NBC.com is one of the largest global broadcasters reaching over 98% of all US households, and we have negotiated a multi-year, master services agreement with NBC Universal, Inc. the parent of NBC.com. Our agreement covers all of NBCU’s properties worldwide, including all their core companies, affiliates and subsidiaries. It is estimated that NBCU’s online programs receive up to 70 million unique online visitors each month. NBC.com is our first program launch with NBCU and has been supported by the President’s office. NBC.com will be creating the NBC Communicator with itiBiti allowing users to watch NBC programming right on the desktop while talking with each other. NBC.com will be selling the ad inventory and we are already, in the test program, seeing 100% advertising inventory sell-through.

itravel2000.com is one of Canada’s leading travel brands. Over 7,000 Canadians visit itravel2000.com each and every hour and itravel2000 has a database of over 1 Million Canadian travelers. As a leading online retailer, itravel2000 was our natural choice for a Canadian launch partner. itravel2000 is an innovator and has some amazing plans for itiBiti, as they already have exceptional interest and commitments from their business partners to advertise. itravel2000 has commented that they expect to have up to 100% of the ad inventory committed.

I am now traveling to Las Vegas for MIX, Microsoft’s global conference for web solutions. I will be presenting on Wednesday at the Agency Showcase and introducing itiBiti to the online and VC community.

The prospects for itiBiti are excellent as we are already in negotiations with over 200 brands, including large international media groups, entertainment groups, agencies and sports properties.

Please feel free to email me, with any questions and / or comments.

Regards,

David

int@agoracom.com

South By Southwest – Austin, TX – Monday, March 16
MIX09 – Las Vegas, NV –Wednesday, March 18

(TORONTO, CANADA - March 11, 2009) - Intertainment Media Inc. (TSXV:INT), today announced schedule details for the debut of itiBiti, an innovative, all-in-one computer desktop entertainment and communications suite with full social networking capability. In the news across North America in recent days, itiBiti is the first integrated, private-label platform designed to enable brand partners to engage consumers globally and drive new revenue streams.
Invited by Microsoft Corp. to join its elite Global Agency Partner program, Intertainment, together with its wholly owned subsidiary, Itibiti Systems Inc. (“ISI”), will be integrating key Microsoft services and technologies into the itiBiti voice-powered social networking platform.

“The fact that you can watch, message and chat all in the same place using your live ID makes this one of the easiest ways for users to enjoy and share their favorite content,” said Shauna Sampson Eves, Global Agency Partnership Development, at Microsoft. “itiBiti truly represents the next generation of integrated social media applications — easy, fun and scalable.”

In addition to itiBiti’s voice-powered social networking services, Intertainment and ISI are engaged with the Windows Live Services team to provide direct access to popular Windows Live Services from the itiBiti desktop platform. itiBiti will make use of Windows Live Services APIs to enable Users to sign into itiBiti using their Windows Live ID, and give them instant access to a number of Windows Live Services, including Windows Live Messenger and Live Search.

“Together with Microsoft, we are delighted to have the opportunity to debut itiBiti at these prestigious events“, said David Lucatch, President of Itibiti Systems Inc. and CEO of Intertainment Media Inc. "It’s going to be a thrill to deliver an exclusive first-look to key industry, press and influencers from around the world.”

A revolutionary, instant revenue driven Rich Internet Application (RIA), itiBiti will launch with an extensive list of top-tier global branded clients from sectors including Entertainment, Sports, Travel and Lifestyle. Select clients, and additional highlights will be announced at the following key events:

itiBiti PRESENTATION & DEMO SCHEDULE

1) SOUTH BY SOUTHWEST (www.sxsw.com) Monday, Mar. 16th, 6:00pm CST/7:00pm ET. Sensorium, presented by Microsoft. Pangaea, 409 Colorado St , Austin, TX.
2) MIX09 (http://2009.visitmix.com) Wednesday, Mar. 18th, 12:30pm PT/3:30 pm ET. Agency Showcase. The Venetian Hotel, 3355 Las Vegas Blvd. South, Las Vegas, NV.

About Itibiti Systems Inc.

Itibiti Systems’ platform, itiBiti, is a revolutionary, instant revenue driven, Rich Internet Application (RIA) providing entertainment, communications and social networking initiatives displayed directly onto a user’s computer desktop – providing major global brands with the unprecedented ability to power their marketing efforts within a unique, private label loyalty and revenue platform. itiBiti offers users a rich suite of services in combination with brand client initiatives, and the Microsoft Windows Live platform. Users have the ability to access itiBiti using their Windows Live ID, giving them direct access to a number of Microsoft services. Itibiti Systems is currently in the planning stage for a mobile version of its product offerings.

About Intertainment

Intertainment Media Inc. (www.intertainmentmedia.com) is a Rich Media Applications leader, focused on delivering leading edge technology and marketing solutions enabling clients to power enhanced branding, loyalty initiatives and consumer engagement. Selected as a Microsoft Global Agency Initiative partner, Intertainment has joined an elite group of interactive agencies worldwide that Microsoft recommends to its Partners and Customers. Additionally, Intertainment owns, operates and invests in high value content, traffic management, advertising and social networking solutions including, Eye Rock Digital (www.eyerockdigital.com), No Good TV (www.ngtv.com), Trooker Inc. (www.trooker.com), Itibiti Systems Inc. (www.itibitisystems.com) and Magnum Fine Commercial Printing Limited (www.magnumprinting.com). Headquartered in Richmond Hill, Ontario, Canada Intertainment Media Inc. is listed on the Toronto Venture Exchange (symbol: INT).

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.

This release may contain forward looking statements within the meaning of the "safe harbor" provisions of US laws. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward looking statements. Intertainment Media Inc. does not assume any obligation to update any forward looking information contained in this news release

Media Inquiries:
For Intertainment/ItiBiti: Sandra Puglielli
416.253.4153
stp@itibitisystems.com

Corporate contact:
Shauna Sampson Eves
Global Agency Partnership Development Manager, Microsoft
shaunas@microsoft.com

MIX contact:
Tim Harris
Sr. Product Marketing Manager, Microsoft
timharr@microsoft.com

Investor Communications:
Buchalter Consulting
1-866-631-6537
Stan.Buchalter@BuchalterConsulting.ca

Online Investor Relations Hub:
AGORACOM
INT@Agoracom.com
www.agoracom.com/IR/intertainment

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To access the interview, simply go to "Broadcast Center" within the blue bar near the top of this page and then click on the link within the Yahoo Small Cap Show box.

Feel free to comment on the interview or any other facet of the business pertaining to Intertainment Media. AGORACOM encourages constructive dialogue regarding Intertainment and its business ventures.

AGORACOM Investor Relations

Also, please be advised that Intertainment Media is the featured company on next week's Yahoo Small Cap Show produced by AGORACOM. We suggest you monitor this site as to when the interview is posted and how it can be accessed.

AGORACOM Investor Relations

TORONTO, CANADA - March 4, 2009 - Intertainment Media Inc. (“Intertainment” or the “Company”) (TSXV:INT), today announced their selection by Microsoft Corp. as a Global Agency Partner. As part of the Microsoft partnership, Intertainment together with its wholly owned subsidiary, Itibiti Systems Inc. (“ISI”), will be integrating key Microsoft services and technologies into itiBiti, a revolutionary voice-powered social networking platform.

Intertainment and ISI are engaged with Microsoft’s Live Services team to provide direct access to popular Windows Live Services from the itiBiti desktop platform. itiBiti will make use of Live Services APIs to enable Users to sign into itiBiti using their Windows Live ID, and give them instant access to a number of Windows Live Services, including Windows Live Messenger and Live Search.

Combining an all-in-one computer desktop entertainment and communications suite with full social networking capability, itiBiti is the first integrated private label platform designed to enable brands to engage users globally and drive new revenue streams. A landscape-changing, instant revenue driven Rich Internet Application (RIA), itiBiti will launch with an extensive list of top-tier global branded clients from sectors including Entertainment, Sports, Travel and Lifestyle.

Together with Microsoft, Intertainment and ISI will exclusively debut itiBiti at South by Southwest, one of the world’s leading interactive festivals in Austin, TX, March 13-17, 2009. In addition, itiBiti will also be showcasing at MIX09 - Microsoft’s premier conference for web commerce, education and communications in Las Vegas, NV, March 18-20, 2009.

Details including select client profiles and additional launch calendar highlights will be announced at these key events.

"We are honored to have been selected by Microsoft as a partner in their Interactive Agency Partnership Program,” said David Lucatch, President of Itibiti Systems Inc. and CEO of Intertainment Media Inc. “Our focus, along with Microsoft Live Services, is to deliver a robust launch for itiBiti - one that will provide increased value for our clients and stakeholders, and spark new conversation for industry, marketers and consumers alike."

For more information, please visit www.itibitisystems.com

About Itibiti Systems Inc.

Itibiti Systems’ platform, itiBiti, is a revolutionary, instant revenue driven, Rich Internet Application (RIA) providing entertainment, communications and social networking initiatives displayed directly onto a user’s computer desktop – providing major global brands with the unprecedented ability to power their marketing efforts within a unique, private label loyalty and revenue platform. itiBiti offers users a rich suite of services in combination with brand client initiatives, and the Microsoft Windows Live platform. Users have the ability to access itiBiti using their Windows Live ID, giving them direct access to a number of Microsoft services. Itibiti Systems is currently in the planning stage for a mobile version of its product offerings.

About Intertainment

Intertainment Media Inc. (www.intertainmentmedia.com) is a Rich Media Applications leader, focused on delivering leading edge technology and marketing solutions enabling clients to power enhanced branding, loyalty initiatives and consumer engagement.

Selected as a Microsoft Global Agency Initiative partner, Intertainment has joined an elite group of interactive agencies worldwide that Microsoft recommends to its Partners and Customers.

Additionally, Intertainment owns, operates and invests in high value content, traffic management, advertising and social networking solutions including, Eye Rock Digital (www.eyerockdigital.com), No Good TV (www.ngtv.com), Trooker Inc. (www.trooker.com), Itibiti Systems Inc. (www.itibitisystems.com) and Magnum Fine Commercial Printing Limited (www.magnumprinting.com).

Headquartered in Richmond Hill, Ontario, Canada Intertainment Media Inc. is listed on the Toronto Venture Exchange (symbol: INT).

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.

Media Inquiries:
Sandra Puglielli
416.253.4153
stp@itibitisystems.com

Investor Communications:
Buchalter Consulting
1-866-631-6537
Stan.Buchalter@BuchalterConsulting.ca

Online Investor Relations Hub:
AGORACOM
INT@Agoracom.com
www.agoracom.com/IR/intertainment

TORONTO, CANADA, March 3, 2009 - Intertainment Media Inc. (“Intertainment” or the “Company”) (TSXV:INT) announced today that its wholly owned subsidiary, Itibiti Systems Inc. (“ISI”) has made a proposed offer to purchase all the outstanding legacy assets and intellectual property of its business partner, Itibiti Inc. (the “Offer”) As part and parcel of the Offer, subject to the approval of the TSX Venture Exchange, ISI will look to complete a brokered private placement of convertible debentures (“Debentures”) of up to $3 Million CDN (the “Offering”).

The Offering will consist of convertible debentures ("Debentures") at a subscription price of $50,000 CDN per Debenture which, unless otherwise authorized, will be payable at 15% interest per year, paid semi-annually. Each Debenture will be convertible into the Debenture holder’s choice of either (a) units of Intertainment ("Units") at a conversion price of $0.11 per Unit with each Unit consisting of one common share and one common share purchase warrant ("Warrant"), such Warrant having an exercise price of $0.16 and being valid for two (2) years from the date of conversion of the debenture into Units, or (b) common shares of ISI (“ISI Shares”) upon the occurrence of a Liquidity Event (as defined below) whereby each $0.70 of principal amount outstanding under the Debentures can be converted into one ISI Share.

A Liquidity Event is the occurrence of an event whereby ISI is listed for trading on a public stock exchange or whereby substantially all of the assets or securities of Itibiti are sold or amalgamated.

The Offering will be led by Toronto based D&D Securities Company. The Company will pay eligible parties 8% commission in cash and provide an option to purchase up to 8% of the Debentures sold at the subscription price of the Offering for a period of 18 months from the date of completion of the Offering.

To date, Intertainment and ISI have extended resources to Itibiti Inc. for the internal development of companion technology, marketing services, enhancement of the software and enhancement of the business platform.

The capital raised will be used for the launch of ISI’s voice powered social networking platform, for strategic growth opportunities and for general corporate purposes. Additionally, a portion of the capital raised will be used specifically to satisfy the proposed purchase price under the Offer. The Company may choose to issue fewer Debentures than the maximum.

The Offer is subject to further negotiations of the terms between ISI and Itibiti Inc., the approval of a final agreement by the Board of Directors of both companies following completion of negotiations and the approval of the TSX Venture Exchange. Under the terms of the Offer extended, ISI would have the exclusive right to purchase all outstanding legacy systems, assets, technology rights and intellectual property of Itibiti Inc. Such right shall be purchased over a maximum period of 10 months by the issuance of 8,000,000 Units as well as cash and/or securities with a value equal to 1.2 Million CDN. The Offer contemplates the transaction would be comprised of both cash and stock, including common stock of Intertainment Media Inc.

About Itibiti Systems Inc.
Itibiti Systems’ platform, itiBiti, is a revolutionary, instant revenue driven, Rich Internet Application (RIA) providing entertainment, communications and social networking initiatives displayed directly onto a user’s computer desktop – providing major global brands with the unprecedented ability to power their marketing efforts within a unique, private label loyalty and revenue platform. itiBiti offers users a rich suite of services in combination with brand client initiatives. Itibiti Systems is currently in the planning stage for a mobile version of its product offerings.

About Intertainment
Intertainment Media Inc. (www.intertainmentmedia.com) is a Rich Media Applications leader, focused on delivering leading edge technology and marketing solutions enabling clients to power enhanced branding, loyalty initiatives and consumer engagement.

Additionally, Intertainment owns, operates and invests in high value content, traffic management, advertising and social networking solutions including, Eye Rock Digital (www.eyerockdigital.com), No Good TV (www.ngtv.com), Trooker Inc. (www.trooker.com), Itibiti Systems Inc. (www.itibitisystems.com) and Magnum Fine Commercial Printing Limited (www.magnumprinting.com).

Headquartered in Richmond Hill, Ontario, Canada Intertainment Media Inc. is listed on the Toronto Venture Exchange (symbol: INT).

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.

Investor Communications:
Buchalter Consulting
1-866-631-6537
Stan.Buchalter@BuchalterConsulting.ca

Online Investor Relations Hub:
AGORACOM
INT@Agoracom.com
www.agoracom.com/IR/intertainment

-30-

About Intertainment
Intertainment Media Inc. (www.intertainmentmedia.com) is a Rich Media Applications leader, focused on delivering leading edge technology and marketing solutions enabling clients to power enhanced branding, loyalty initiatives and consumer engagement.

Additionally, Intertainment owns, operates and invests in high value content, traffic management, advertising and social networking solutions including, Eye Rock Digital (www.eyerockdigital.com), No Good TV (www.ngtv.com), Trooker Inc. (www.trooker.com), Itibiti Systems Inc. (www.itibitisystems.com) and Magnum Fine Commercial Printing Limited (www.magnumprinting.com).

Headquartered in Richmond Hill, Ontario, Canada Intertainment Media Inc. is listed on the Toronto Venture Exchange (symbol: INT).

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.

Corporate Inquiries:
David Lucatch
905.763.3510
dlucatch@intertainmentmedia.com

Investor Communications:
Buchalter Consulting
1-866-631-6537
Stan.Buchalter@BuchalterConsulting.ca

Online Investor Relations Hub:
AGORACOM
INT@Agoracom.com
www.agoracom.com/IR/intertainment

Over the past 20 months, Itibiti has been developed, tested and undergone numerous successful trials and focus groups. With INT’s new strategic partner, Proximity Interactive Networks Inc., whose operations include the PinSpot Network, development plans are in process to bring the Itibiti platform to mobile and cellular handsets.

Itibiti’s major differentiation from other social networking programs is that it has substantive revenue components built in and active immediately upon launch. In addition, clients themselves will absorb the costs to market and promote the platform capitalizing on their own brand marketing initiatives. Itibiti creates unique social networking, entertainment and communications opportunities in a customized revenue accretive setting increasing direct and targeted interaction between the consumer and the brand.

“Itibiti is now ready for contracted brand-approved roll-outs and has a series of planned launches in the entertainment, business, travel and sport sectors. Itibiti has over a dozen large brand contracts in hand and has been presented to almost 200 global brands, which have shown significant interest. In addition to the brand programs, Itibiti has made significant progress in establishing major technology and advertising relationships,” said David Lucatch, President of Itibiti Systems Inc. and CEO of Intertainment Media Inc.

On January 29th, 2009 the Company announced that it is looking to complete a brokered private placement of convertible debentures (“Debentures”) of up to $3 Million CDN of Itibiti (the “Offering”). The Offering will consist of convertible debentures ("Debentures") at a subscription price of $50,000 CDN per Debenture which, unless otherwise authorized, will be payable at 15% interest per year, paid semi-annually. Each Debenture will be convertible into the Debenture holder’s choice of (a) units of the Company ("Units") at a conversion price of $0.10 per Unit with each Unit consisting of one common share and one common share purchase warrant ("Warrant"), such Warrant having an exercise price of $0.10 and being valid for two (2) years from the date of conversion of the debenture into shares of Intertainment Media Inc., or (b) common shares of Itibiti (“Itibiti Shares”) upon the occurrence of a Liquidity Event (as defined below) whereby each $0.70 of principal amount outstanding under the Debentures can be converted into one Itibiti Share. A Liquidity Event is the occurrence of an event whereby Itibiti is listed for trading on a public stock exchange or whereby substantially all of the assets or securities of Itibiti are sold or amalgamated.

The Offering will be led by Toronto based D&D Securities Company. The Company will pay eligible parties 8% commission in cash and provide an option to purchase up to 8% of the Debentures sold at the subscription price of the Offering for a period of 18 months from the date of completion of the Offering.

The capital raised will be used to further the completion and live launch of Itibiti System’s voice powered social networking platform, for strategic growth opportunities and for general corporate purposes. The Company may choose to issue fewer Debentures than the maximum.

Subject to regulatory approval, on February 4, 2009, the Board of Intertainment Media Inc. issued a resolution authorizing the issuance of 1,665,000 common share options at a price of $0.10 per common share expiring February 3, 2011. Of the total issuance, 800,000 options were granted to insiders of the Company.

About Intertainment’s Itibiti Systems
Intertainment’s Itibiti Systems platform is a proprietary, social networking, multimedia and communications environment that can be installed directly on a user’s computer desktop. The Itibiti platforms provides clients with custom branding, loyalty and revenue opportunities allowing them to extend their “Brand Experience” to the user’s desktop. Key features of the Itibiti include IP Telephony, video/multimedia on demand, instant messaging, SMS, integrated in a feature rich interface that includes a mini web browser, desktop telephone and chat system which can be utilized to create active links to the affinity partners web pages, providing information and outside services and a complete advertising and marketing platform for revenue generation. For a full demonstration of the Itibiti platform, please visit www.intertainmentmedia.com/itibiti/p...

About Intertainment
Intertainment Media Inc. (www.intertainmentmedia.com) is a conventional and new media company with an experienced and innovative team of professionals focused on delivering leading edge technology and marketing solutions.

Intertainment develops and invests in strategic programs that enable clients to increase their branding and loyalty relationships with their consumers while focusing on increased revenue generation. Intertainment owns, operates and invests in high value content, traffic management, advertising and social networking solutions including, Eye Rock Digital (www.eyerockdigital.com) No Good TV (www.ngtv.com), Trooker Inc. (www.trooker.com), and Itibiti Systems (www.intertainmentmedia.com/itibiti/p... ). Intertainment Media Inc. is headquartered in Richmond Hill, Ontario, Canada. The company is listed on the Toronto Venture Exchange (symbol: INT).

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.

Corporate Inquiries:
David Lucatch, CEO
905-763-3510

Investor Communications:
Buchalter Consulting
1-866-631-6537
Stan.Buchalter@BuchalterConsulting.ca

Online Investor Relations Hub:
AGORACOM
INT@Agoracom.com
www.agoracom.com/IR/intertainment

About Intertainment
Intertainment Media Inc. (www.intertainmentmedia.com) is a conventional and new media company with an experienced and innovative team of professionals focused on delivering leading edge technology and marketing solutions.

Intertainment develops and invests in strategic programs that enable clients to increase their branding and loyalty relationships with their consumers while focusing on increased revenue generation. Intertainment owns, operates and invests in high value content, traffic management, advertising and social networking solutions including, Eye Rock Digital (www.eyerockdigital.com) No Good TV (www.ngtv.com), Trooker Inc. (www.trooker.com), and Itibiti Systems (www.intertainmentmedia.com/itibiti/p... ). Intertainment Media Inc. is headquartered in Richmond Hill, Ontario, Canada. The company is listed on the Toronto Venture Exchange (symbol: INT).

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.

Corporate Inquiries:
David Lucatch, CEO
905-763-3510

Investor Communications:
Buchalter Consulting
1-866-631-6537
Stan.Buchalter@BuchalterConsulting.ca

Online Investor Relations Hub:
AGORACOM
INT@Agoracom.com
www.agoracom.com/IR/intertainment

The Company will look to complete a brokered private placement of convertible debentures (“Debentures”) of up to $3 Million CDN of Itibiti (the “Offering”). The Offering will consist of convertible debentures ("Debentures") at a subscription price of $50,000 CDN per Debenture which, unless otherwise authorized, will be payable at 15% interest per year, paid semi-annually. Each Debenture will be convertible into the Debenture holder’s choice of (a) units of the Company ("Units") at a conversion price of $0.10 per Unit with each Unit consisting of one common share and one common share purchase warrant ("Warrant"), such Warrant having an exercise price of $0.10 and being valid for two (2) years from the date of conversion of the debenture into shares of Intertainment Media Inc., or (b) common shares of Itibiti (“Itibiti Shares”) upon the occurrence of a Liquidity Event (as defined below) whereby each $0.70 of principal amount outstanding under the Debentures can be converted into one Itibiti Share.

A Liquidity Event is the occurrence of an event whereby Itibiti is listed for trading on a public stock exchange or whereby substantially all of the assets or securities of Itibiti are sold or amalgamated.

Itibiti Systems has completed its beta testing and has been approved for its final live launch platform with a major technology company and international brands. There has been significant interest from the advertising and investment community in Itibiti Systems as it enables major brands to create a stronger relationship with its customers all within the computer desktop environment,” said David Lucatch, President of Itibiti Systems Inc. and CEO of Intertainment Media Inc.

The Offering will be led by Toronto based D&D Securities Company. The Company will pay eligible parties 8% commission in cash and provide an option to purchase up to 8% of the Debentures sold at the subscription price of the Offering for a period of 18 months from the date of completion of the Offering.

The capital raised will be used to further the completion and live launch of Itibiti System’s voice powered social networking platform, for strategic growth opportunities and for general corporate purposes. The Company may choose to issue fewer Debentures than the maximum.

About Intertainment’s Itibiti Systems
Intertainment’s Itibiti Systems platform is a proprietary, social networking, multimedia and communications environment that can be installed directly on a user’s computer desktop. The Itibiti platforms provides clients with custom branding, loyalty and revenue opportunities allowing them to extend their “Brand Experience” to the user’s desktop. Key features of the Itibiti include IP Telephony, video/multimedia on demand, instant messaging, SMS, integrated in a feature rich interface that includes a mini web browser, desktop telephone and chat system which can be utilized to create active links to the affinity partners web pages, providing information and outside services and a complete advertising and marketing platform for revenue generation. For a full demonstration of the Itibiti platform, please visit www.intertainmentmedia.com/itibiti/p...

About Intertainment
Intertainment Media Inc. (www.intertainmentmedia.com) is a conventional and new media company with an experienced and innovative team of professionals focused on delivering leading edge technology and marketing solutions.

Intertainment develops and invests in strategic programs that enable clients to increase their branding and loyalty relationships with their consumers while focusing on increased revenue generation. Intertainment owns, operates and invests in high value content, traffic management, advertising and social networking solutions including, Eye Rock Digital (www.eyerockdigital.com) No Good TV (www.ngtv.com), Trooker Inc. (www.trooker.com), and Itibiti Systems (www.intertainmentmedia.com/itibiti/p... ). Intertainment Media Inc. is headquartered in Richmond Hill, Ontario, Canada. The company is listed on the Toronto Venture Exchange (symbol: INT).

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.

Corporate Inquiries:
David Lucatch, CEO
905-763-3510

Investor Communications:
Buchalter Consulting
1-866-631-6537
Stan.Buchalter@BuchalterConsulting.ca

Online Investor Relations Hub:
AGORACOM
INT@Agoracom.com
www.agoracom.com/IR/intertainment

At this closing 2,000,000 units (the "Units") were issued at a price of $0.05 per Unit comprised of one (1) common share and one (1) common share purchase warrant with an exercise price of $0.12, valid until December 30, 2010. The securities issued pursuant to this private placement are subject to a statutory resale period of four months, which expires on May 1, 2009.

D&D Securities Company, the Broker for the Offering, received fees of $8,000 CDN in cash commissions and 160,000 in options to purchase Units, such options having an expiry date of June 30, 2010.

Following the completion of the second tranche of the Offering the Company has 73,009,668 common shares issued and outstanding.

The capital raised from the Offering will be used for strategic growth opportunities and for general corporate purposes.

Intertainment wishes to update details of the private placement being subscribed for by Proximity Interactive Networks Inc. ("Proximity") under the terms of the Offering. Pursuant to the management information circular dated December 15, 2008 Intertainment will be seeking disinterested shareholder approval at its annual general and special meeting on January 19, 2009 to allow for Proximity to become a new control person of Intertainment. Prior to the Offering Proximity held no securities of Intertainment. Following completion of the Offering, and Intertainment having obtained shareholder and TSX Venture Exchange approval, Proximity will hold 15,500,000 common shares (19.74% of the issued and outstanding common shares of Intertainment) and 15,500,000 common share purchase warrants. Assuming exercise of all of the common share purchase warrants by Proximity, Proximity would hold on a fully diluted basis 32.12% of the issued and outstanding common shares of Intertainment. The directors of Proximity are Scott Dawdy, David McConomy and Michelle Kinch. The Proximity directors will have the discretion to vote the Intertainment shares held by Proximity.

Pursuant to the news release dated December 29, 2008 the Offering is fully subscribed at $900,000 - no subscriptions above this amount will be conducted for this Offering.

About Intertainment's Itibiti Softphone Platform

Intertainment's Itibiti Softphone platform is a proprietary, social networking, multimedia and communications environment that can be installed directly on a user's computer desktop. This provides clients with custom branding, loyalty and revenue opportunities prior to the user launching their Internet services. Key features of the Softphone platform include IP Telephony, video/multimedia on demand, instant messaging, SMS, integrated in a feature rich interface that includes a mini web browser, desktop telephone and chat system which can be utilized to create active links to the affinity partners web pages, providing information and outside services and a complete advertising and marketing platform for revenue generation.

About Intertainment

Intertainment Media Inc. (www.intertainmentmedia.com) is a conventional and new media company with an experienced and innovative team of professionals focused on delivering leading edge technology and marketing solutions. Intertainment develops and invests in strategic programs that enable clients to increase their branding and loyalty relationships with their consumers while focusing on increased revenue generation. Intertainment owns, operates and invests in high value content, traffic management, advertising and social networking solutions including, Eye Rock Digital (www.eyerockdigital.com) No Good TV (www.ngtv.com), Trooker Inc. (www.trooker.com), and Itibiti Inc. Intertainment Media Inc. is headquartered in Richmond Hill, Ontario, Canada. The company is listed on the Toronto Venture Exchange (symbol: INT).

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.

FOR FURTHER INFORMATION PLEASE CONTACT:

Corporate Inquiries:
Intertainment Media Inc.
David Lucatch
CEO

(905) 763-3510

or

Investor Relations:
Buchalter Consulting

1-866-631-6537

Email: Stan.Buchalter@BuchalterConsulting.ca

or

Online Investor Relations Hub:
AGORACOM



Email: INT@Agoracom.com
Website: www.agoracom.com/IR/intertainment

The capital raised will be used for Itibiti System’s voice powered social networking platform, for strategic growth opportunities and for general corporate purposes. The Company may choose to issue fewer units than the maximum proposed under the Offering.

On December 11, 2008 the Company announced that it’s wholly owned subsidiary, Itibiti Systems Inc. is in discussions with a major industry leading global technology firm to integrate its platforms and online programming directly into Itibiti Systems’ product suite.

The integration of the technology firm’s offerings, should the discussions result in a formal agreement, will provide consumers with a wide array of functional, social networking and communication additions to Itibiti Systems’ already rich suite of services.

In addition to the equity offering, on December 3, 2008 the Company announced today that subject to TSX Venture Exchange approval, it will seek to complete a brokered private placement of convertible debentures of up to $3 Million CDN as a first round financing into its subsidiary, Itibiti Systems Inc. The Company has already received commitments and continues to garner strong interest from investors and debt holders.

The financing will be part of the Company’s strategic objectives to grow Itibiti Systems Inc. as a majority owned, but independent division of the Company, allowing it to potentially keep pace with other online industry valuations. The valuation for companies in the online social networking space has significantly outpaced the value of Intertainment’s total aggregate public value, and the Company and management are seeking to provide the utmost long-term value to its stakeholders.

“Itibiti Systems is now moving to the final stage before launch and is in discussions to add some significant 3rd party technology to its platform. Itibiti has been well received by major global brands, international advertising agencies and consumer groups. By running Itibiti Systems as a separate entity, we believe that we are able to provide our shareholders and other stakeholders with a potentially larger value proposition in the long run,” said Mr. David Lucatch, CEO of Intertainment Media Inc.

The Offering will consist of convertible debentures ("Debentures") at a subscription price of $50,000 CDN per Debenture which, unless otherwise authorized, will be payable at 15% interest per year, paid semi-annually. Each Debenture will be convertible into the Debenture holder’s choice of (a) units of the Company ("Units") at a conversion price of $0.07 per Unit with each Unit consisting of one common share and one common share purchase warrant ("Warrant"), such Warrant having an exercise price of $0.12 and is valid for two (2) years from the date of conversion of the debenture into Units of Intertainment Media Inc., or (b) equity of Itibiti Systems Inc. in the form of common shares (the "Equity") for a period of two (2) years from the date of closing of the offering of Debentures, with the conversion price for the Equity based on a fixed pre-Offering valuation of Itibiti Systems Inc. being set at $10,000,000. The percentage of convertible ownership into Itibiti Systems Inc. under option (b) above is non-dilutive throughout the term of the debenture.

The Offering will be led by Toronto based D&D Securities Company. The Company will pay eligible parties 8% commission in cash and provide an option to purchase up to 8% of the Debentures sold at the subscription price of the Offering for a period of 18 months from the date of completion of the Offering.

The capital raised will be used to further the completion of Itibiti System’s voice powered social networking platform, for strategic growth opportunities and for general corporate purposes. The Company may choose to issue fewer units than the maximum.

As part of the Company’s stock option plan and subject to TSX Venture Exchange approval, the Board has granted 3,825,000 options valid for 2 years at a price of $0.10 per common share. Management and Insiders were issued 2,535,00 as part of the grant.

About Intertainment’s Itibiti Systems
Intertainment’s Itibiti Systems platform is a proprietary, social networking, multimedia and communications environment that can be installed directly on a user’s computer desktop. The Itibiti platforms provides clients with custom branding, loyalty and revenue opportunities allowing them to extend their “Brand Experience” to the user’s desktop. Key features of the Itibiti include IP Telephony, video/multimedia on demand, instant messaging, SMS, integrated in a feature rich interface that includes a mini web browser, desktop telephone and chat system which can be utilized to create active links to the affinity partners web pages, providing information and outside services and a complete advertising and marketing platform for revenue generation. For a full demonstration of the Itibiti platform, please visit www.intertainmentmedia.com/itibiti/p...

About Intertainment
Intertainment Media Inc. (www.intertainmentmedia.com) is a conventional and new media company with an experienced and innovative team of professionals focused on delivering leading edge technology and marketing solutions.

Intertainment develops and invests in strategic programs that enable clients to increase their branding and loyalty relationships with their consumers while focusing on increased revenue generation.

Intertainment owns, operates and invests in high value content, traffic management, advertising and social networking solutions including, Eye Rock Digital (www.eyerockdigital.com) No Good TV (www.ngtv.com), Trooker Inc. (www.trooker.com), and Itibiti Systems (www.intertainmentmedia.com/itibiti/p... ).

Intertainment Media Inc. is headquartered in Richmond Hill, Ontario, Canada. The company is listed on the Toronto Venture Exchange (symbol: INT).

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.

Corporate Inquiries:
David Lucatch, CEO
905-763-3510

Investor Communications:
Buchalter Consulting
1-866-631-6537
Stan.Buchalter@BuchalterConsulting.ca

Online Investor Relations Hub:
AGORACOM
INT@Agoracom.com
www.agoracom.com/IR/intertainment

The integration of the technology firm’s offerings, should the discussions result in a formal agreement, will provide consumers with a wide array of functional, social networking and communication additions to Itibiti Systems’ already rich suite of services.

The technology firm’s online advertising division is currently assessing the opportunity to provide Itibiti with additional revenue initiatives through banner and rich media programs.

“Itibiti Systems is being recognized by industry leaders and global brands as both a new and recessionary resistant opportunity to increase brand awareness, loyalty and revenues,” said Mr. David Lucatch, President of Itibiti Systems Inc. and CEO of Intertainment Media Inc.

Intertainment and / or Itibiti Systems will provide an announcement in the event of the completion of a formal relationship.

Additionally, Intertainment is updating the news release issued December 2, 2008, in which Intertainment Media announced the completion of $525,000 of its proposed $900,000 Private Placement offering (“the Offering”). The Company closed $25,000 on December 4, 2008 and $500,000 on December 5, 2008. Following completion of the Offering the Company has 71,009,668 common shares issued and outstanding, and a new strategic partner, Proximity Networks Inc.

On December 3rd, Intertainment Media also announced that it will be seeking approval to complete a brokered private placement of convertible debentures of up to $3 million CDN as a first round of financing into its subsidiary, Itibiti Systems Inc. The offering will be led by Toronto based D&D Securities Company. There is already strong interest in the financing from investors and debt holders. This financing will be part of the Company’s strategic objectives to grow Itibiti Systems Inc. as a majority owned, but independent division of the Company, allowing it to potentially keep pace with other online industry valuations.

About Itibiti Systems Inc.
Itibiti Systems Inc., a wholly owned subsidiary of Intertainment Media Inc. is a proprietary, social networking, multimedia and communications environment that can be installed directly on a user’s computer desktop. The Itibiti platforms provides clients with custom branding, loyalty and revenue opportunities allowing them to extend their “Brand Experience” to the user’s desktop. Key features of the Itibiti include IP Telephony, video/multimedia on demand, instant messaging, SMS, integrated in a feature rich interface that includes a mini web browser, desktop telephone and chat system which can be utilized to create active links to the affinity partners web pages, providing information and outside services and a complete advertising and marketing platform for revenue generation. For a full demonstration of the Itibiti platform, please visit www.intertainmentmedia.com/itibiti/p...

About Intertainment
Intertainment Media Inc. (www.intertainmentmedia.com) is a conventional and new media company with an experienced and innovative team of professionals focused on delivering leading edge technology and marketing solutions.

Intertainment develops and invests in strategic programs that enable clients to increase their branding and loyalty relationships with their consumers while focusing on increased revenue generation.

Intertainment owns, operates and invests in high value content, traffic management, advertising and social networking solutions including, Eye Rock Digital (www.eyerockdigital.com) No Good TV (www.ngtv.com), Trooker Inc. (www.trooker.com), and Itibiti Systems (www.intertainmentmedia.com/itibiti/p... ).

Intertainment Media Inc. is headquartered in Richmond Hill, Ontario, Canada. The company is listed on the Toronto Venture Exchange (symbol: INT).

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.

Corporate Inquiries:
David Lucatch, CEO
905-763-3510

Investor Communications:
Buchalter Consulting
1-866-631-6537
Stan.Buchalter@BuchalterConsulting.ca

Online Investor Relations Hub:
AGORACOM
INT@Agoracom.com
www.agoracom.com/IR/intertainment

TORONTO, CANADA, December 3, 2008- Intertainment Media Inc. (“Intertainment” or the “Company”) (TSXV:INT) announced today that subject to TSX Venture Exchange approval, it will seek to complete a brokered private placement of convertible debentures of up to $3 Million CDN as a first round financing into its subsidiary, Itibiti Systems Inc. The Company already has strong interest in the financing from investors and debt holders. This financing follows the completion of Intertainment’s first tranche of $525,000 CDN that included strategic equity financing in Intertainment on December 2, 2008 by Proximity Networks Inc.

The financing will be part of the Company’s strategic objectives to grow Itibiti Systems Inc. as a majority owned, but independent division of the Company, allowing it to potentially keep pace with other online industry valuations. The valuation for companies in the online social networking space has significantly outpaced the value of Intertainment’s total aggregate public value, and the Company and management are seeking to provide the utmost long-term value to its stakeholders.

“Itibiti Systems has been well received in its beta testing from major global brands, international advertising agencies and consumer groups. The company has over a dozen agreements in place to launch its program. By running Itibiti Systems as a separate entity, we believe that we are able to provide our shareholders and other stakeholders with a potentially larger value proposition in the long run,” said Mr. David Lucatch, CEO of Intertainment Media Inc.

The Offering will consist of convertible debentures ("Debentures") at a subscription price of $50,000 CDN per Debenture which, unless otherwise authorized, will be payable at 15% interest per year, paid semi-annually. Each Debenture will be convertible into the Debenture holder’s choice of (a) units of the Company ("Units") at a conversion price of $0.07 per Unit with each Unit consisting of one common share and one common share purchase warrant ("Warrant"), such Warrant having an exercise price of $0.12 and is valid for two (2) years from the date of conversion of the debenture into Units of Intertainment Media Inc., or (b) equity of Itibiti Systems Inc. in the form of common shares (the "Equity") for a period of two (2) years from the date of closing of the offering of Debentures, with the conversion price for the Equity based on a fixed pre-Offering valuation of Itibiti Systems Inc. being set at $10,000,000. The percentage of convertible ownership into Itibiti Systems Inc. under option (b) above is non-dilutive throughout the term of the debenture.

The Offering will be led by Toronto based D&D Securities Company. The Company will pay eligible parties 8% commission in cash and provide an option to purchase up to 8% of the Debentures sold at the subscription price of the Offering for a period of 18 months from the date of completion of the Offering.

The capital raised will be used to further the completion of Itibiti System’s voice powered social networking platform, for strategic growth opportunities and for general corporate purposes. The Company may choose to issue fewer units than the maximum.

The Company would also like to announce the resignation of Mr. Greg Cumiskey from the Board of Directors due to personal business reasons. Mr. Cumiskey has been a member of the Board of Directors since May 2006. The Company wishes Mr. Cumiskey success in his future endeavors.

About Intertainment’s Itibiti Systems
Intertainment’s Itibiti Systems platform is a proprietary, social networking, multimedia and communications environment that can be installed directly on a user’s computer desktop. The Itibiti platforms provides clients with custom branding, loyalty and revenue opportunities allowing them to extend their “Brand Experience” to the user’s desktop. Key features of the Itibiti include IP Telephony, video/multimedia on demand, instant messaging, SMS, integrated in a feature rich interface that includes a mini web browser, desktop telephone and chat system which can be utilized to create active links to the affinity partners web pages, providing information and outside services and a complete advertising and marketing platform for revenue generation. For a full demonstration of the Itibiti platform, please visit www.intertainmentmedia.com/itibiti/p...

About Intertainment
Intertainment Media Inc. (www.intertainmentmedia.com) is a conventional and new media company with an experienced and innovative team of professionals focused on delivering leading edge technology and marketing solutions.

Intertainment develops and invests in strategic programs that enable clients to increase their branding and loyalty relationships with their consumers while focusing on increased revenue generation.

Intertainment owns, operates and invests in high value content, traffic management, advertising and social networking solutions including, Eye Rock Digital (www.eyerockdigital.com) No Good TV (www.ngtv.com), Trooker Inc. (www.trooker.com), and Itibiti Systems (www.intertainmentmedia.com/itibiti/p... ).

Intertainment Media Inc. is headquartered in Richmond Hill, Ontario, Canada. The company is listed on the Toronto Venture Exchange (symbol: INT).

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.

Corporate Inquiries:
David Lucatch, CEO
905-763-3510

Investor Communications:
Buchalter Consulting
1-866-631-6537
Stan.Buchalter@BuchalterConsulting.ca

Online Investor Relations Hub:
AGORACOM
INT@Agoracom.com
www.agoracom.com/IR/intertainment