Fifty-Plus.Net International Inc.
TSX VENTURE : FPN

Fifty-Plus.Net International Inc.

October 26, 2007 13:53 ET

Fifty-Plus.Net International Inc. Announces Annual Financial Results

TORONTO, ONTARIO--(Marketwire - Oct. 26, 2007) - Fifty-Plus.Net International Inc. (TSX VENTURE:FPN) today announced the financial results for the year ended June 30, 2007.

Net income for the year before extraordinary items was $221,654 compared to $61,988 in 2006 - a 258% increase. An extraordinary income item totaling $204,694 relating to the recovery of management and directors fees increased net income to $266,682 in 2006. Revenues of $1,780,651 were the highest in the history of the Company and were 77% ahead of the prior year's revenues of $1,006,938. This is due in large part to the efforts of the expanded sales and marketing team that was hired in the latter part of 2006 and the increased emphasis on expanding sales from display advertisers.

Expenses for the year were $1,558,997 compared to $944,950 for 2006, an increase of 65%. This increase is primarily attributable to increased wages and benefits for new personnel hired in fiscal 2007 to redesign the website and to increase revenues and profitability going forward, as well as a general increase in expenses necessary to support higher revenues. While the revenue-generating efforts are now showing results, emphasis remains on very tight cost controls. The number of employees and contractors now number 14 compared to six last year. Although FPN's staff complement has more than doubled, FPN is self-sufficient in all operating aspects of the business, including accounting and sales, two areas that were maintained by Kemur Publishing Co. Ltd. in past years.

As at June 30, 2007, FPN had cash on hand of $114,060 (June 30, 2006 - $88,208) and working capital (excluding the current portion of deferred revenue) of $225,597 (June 30, 2006 - $103,931). The improvement in working capital reflects the drawing down of a line of credit established in 2005 in the amount of $50,000, the proceeds, net of issuance costs, of $48,093 from the private placement of 500,000 units at $0.10 per unit, and the operating profit in the year less the deferred revenue of $230,400 which was paid to the Company in 2002.

About Fifty-Plus.Net International Inc.

Fifty-Plus.Net International Inc. (FPN) operates as The 50Plus Group, Canada's leading provider of online content targeting the 50+ age group. Altogether, the 50Plus Group's 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.

The 50Plus Group also produces and manages www.carp.ca , the online home of CARP, Canada's Association for the Fifty-Plus. With almost 400,000 members, CARP is Canada's largest association for the 50+. In addition, The 50Plus Group 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. The 50Plus Group also produces CARP Action Online, an electronic newsletter for CARP members.

The 50Plus Group has a strategic alliance with Decima Research, to develop original research on the 50+ market, its demographics, psychographics and purchasing behavior.

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 Fifty-Plus.Net International Inc. 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.

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