Shift Networks Inc.

Shift Networks Inc.

January 10, 2007 09:00 ET

Shift Networks Reports Continued Subscriber Growth in Q4, 2006

Company Named to "The Fast 50: Alberta's Fastest Growing Companies"

CALGARY, ALBERTA--(CCNMatthews - Jan. 10, 2007) - Shift Networks Inc. ("Shift") (TSX VENTURE:SHF) ( announced today that it signed over 2,000 new subscriber lines during the fourth quarter of 2006, bringing total signed subscriber lines to over 8,000. The increase in subscriber lines represents growth of over 400% for the 2006 calendar year.

"In 2006, Shift made good progress on our primary objectives: continued growth in subscriber numbers, market expansion and minimal customer churn," said Shift Networks CEO, Trent Johnsen.

"It's also important to note that Shift now has over 3,000 sold subscribers in the process of being activated. Collectively they represent approximately $1 million in non-recurring revenues and an additional $100,000 in monthly recurring revenues. Shift's focus going in to 2007 is on eliminating our subscriber backlog and reducing the time it takes to activate and bill new customers. 2007 is all about profitable, sustainable growth, with an emphasis on operations and cash flow."

"In the latter half of 2006 we made substantial investments of time and money in our new network, and our operating and billing systems software. We anticipate significant returns on these investments in the form of lower operating costs, enhanced cash flow and a more efficient subscriber activation process."

Shift is also pleased to announce that it ranked 21st overall on Alberta Venture's "Fast 50" a list of Alberta's fastest growing companies under $20 million in revenue. Shift was ranked 3rd overall in Alberta Venture's listing of the top 10 performers under $20 million in revenue by 3-year percentage increase in sales.

"We are honored to be recognized among the fastest growing companies in Alberta, which in turn is one of the world's fastest growing economies," said Johnsen.

About Shift Networks

Shift Networks Inc. (TSX VENTURE:SHF) is reinventing the business phone company by combining premium hosted IP communications services, an exclusive focus on business customers, and unmatched customer service. Shift provides service in urban markets across Canada, including Toronto, Ottawa, Calgary, Edmonton, Vancouver and Victoria. Visit us at

Except for historical information, this press release contains forward-looking statements, which reflect the Company's current expectation regarding future events. These forward-looking statements involve risks and uncertainties, which may cause actual results to differ materially from those statements. Those risks and uncertainties include, but are not limited to, changing market conditions, and other risks detailed from time-to-time in the Company's ongoing filings. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events in this press release might not occur.

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

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