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

Fifty-Plus.Net International Inc.

November 29, 2007 16:46 ET

Fifty-Plus.Net International Inc. Announces First Quarter Financial Results

TORONTO, ONTARIO--(Marketwire - Nov. 29, 2007) - Fifty-Plus.Net International Inc. (TSX VENTURE:FPN) today announced the financial results for the first quarter ended September 30, 2007.

Net income for the first quarter of the Company's fiscal year 2008, the three months ending September 30, 2007, was $7,491 compared to net income of $87,450 for the comparable quarter last year.

The Company recorded its fourth consecutive quarter of revenues in excess of $400,000. Revenues of $417,815 for the quarter were 6% higher than the comparable quarter last year, when revenues were $395,989. In comparison to the fourth quarter of 2007, revenue was down $60,820 or 13%. Net Income of $7,491 for the current quarter was down 68% from $23,418 for the previous quarter. Quarter 3 of 2007 and Quarter 1 of 2008 reflect seasonal declines in revenues. Some advertisers spend comparatively less on advertising during December, June and July.

Expenses for the quarter were $410,323. This is an increase of $101,784 over the first quarter in 2007 of $308,538 and reflects the ongoing investment in personnel and marketing to drive top line revenue growth. This increase is primarily attributable to increased wages and benefits for new personnel hired in the 2007 fiscal year 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, the Company 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 September 30, 2007, the Company had cash on hand of $126,201 (June 30, 2007 - $114,060) and working capital (excluding the current portion of deferred revenue) of $170,070 (June 30, 2007 - $225,597). The decrease primarily reflected the quarter's profit less the $59,000 of deferred revenue for which payment was received in 2001 and a decrease in receivables.

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

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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

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