Domainer Inc. (the “Company”), a private
company, today announced that it has concluded a private placement of
CDN$ 2.0 million with a group of investors including a Toronto-based
venture capital firm. Flagship Bancorp Inc. acted as exclusive agent on
the offering.

The Company partners with Domainers to turn their undeveloped domain name assets into valuable Internet properties. Domainers
are people who engage in the business of buying, selling, and
monetizing Internet domain names in a manner similar to real estate
investors.

“Domain names are the real estate of the Internet,” said Jason
Chapnik, the Company’s Chairman, “but until now, Domainers seeking to
develop their Internet properties had very limited options. Our
proprietary software platform has been designed to allow us to easily
develop, configure, and manage the content of a portfolio of websites.
We incorporate relevant content from third parties and from our own
proprietary content network, thereby turning our clients’ domain names
into destinations and brand building opportunities.”

“The monies raised under this offering give us the financial
resources to reach a wider group of Domainers and to hire talented
individuals to help us achieve our goals,” said Adam Sadowski, the
Company’s President.

The Company also announced the addition of Mr. Glenn Graff and Mr.
Allen DeBevoise to the Company’s Board of Directors. Mr. Graff is
presently the EVP, Business Development for Kaboose Inc. (TSX: KBA),
the largest online media company focused on kids and families in North
America. Mr. DeBevoise has over 25 years experience in the
entertainment, interactive multimedia and Internet industries, and is
currently a director of Dealer.com, LAT34.com, Splise.com, and
iCreate.com.

For more information:

Flagship Bancorp Inc.

Grant D. Roebuck

Tel: 416-545-1010

gdroebuck@flagshipgroup.ca

This announcement appears as a matter of record only.