Empirical Inc.

Empirical Inc.

December 05, 2007 16:22 ET

Empirical Inc.-Secured Debenture Financings

MISSISSAUGA, ONTARIO--(Marketwire - Dec. 5, 2007) - Empirical Inc. (TSX VENTURE:EM) ("Empirical" or the "Company") - today announced that Quorum Investment Pool Limited Partnership ("Quorum") has advanced to Empirical gross proceeds of $280,000 pursuant to a secured debenture issued by Empirical to Quorum today.

As part of this financing, Empirical has also assigned to Quorum its rights to the proceeds arising from the Canadian Federal Government's scientific research and experimental development tax claims made by the Company (the "SR&ED Proceeds") until such time as the gross proceeds raised by the debenture are paid off in full.

The secured debenture bears interest at 10% per annum, calculated monthly and payable quarterly in arrears. It matures on the earlier of March 5, 2009 and the date upon which the debenture is paid off in full as a result of the assignment by the Company of to Quorum of its SR&ED Proceeds.

Other than the interest rate, the maturity date and the assignment of the SR&ED Proceeds, this debenture financing was closed on substantially the same terms and conditions as the Company's previously announced debenture financings with Quorum.

Empirical is a technology enabled marketing solutions company serving Fortune 2000 companies throughout North America. The Company combines traditional below the line marketing solutions with its proprietary data capture, analysis and marketing engine to deliver multi-channel promotional and marketing programs and sales optimization solutions.

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

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