SOURCE: WatchIt Technologies, Inc.

September 27, 2007 08:30 ET

WatchIt Technologies Officers to Exchange 90 Million Shares in Order to Significantly Reduce Outstanding Shares

ASHEVILLE, NC--(Marketwire - September 27, 2007) - WatchIt Technologies, Inc. (PINKSHEETS: WTCT) -- The Officers and certain insiders of WatchIt Technologies, Inc. have elected to exchange personally held stock, totaling more than 92.5 million common shares, for Series A and B convertible preferred shares. This will effectively and immediately reduce the 176,422,789 shares outstanding to 83,736,811.

"It is our belief that WatchIt Technologies has the potential to achieve terrific successes. The actions of this group substantiate the incredible faith for the future of this company. The reduction in outstanding shares will result in a stronger per share value to shareholders," stated Frank Moody, CEO of WatchIt Technologies, Inc.

In addition to developing the Child Watch Network, the Company is focused on establishing a presence in the United Kingdom. WatchIt is currently approaching several major pub chains and advertising partners. The Company also has been working with Quizzing Ltd., a U.K. trivia company, to establish brand recognition. Over the last several years, interactive quiz games have increasingly become a direct competitor to the more traditional European pub games.

About WatchIt Technologies, Inc.:

WatchIt Technologies, Inc. is an emerging out-of-home new media advertising Company operating the Child Watch Network (CWN) through an exclusive licensing agreement with the not-for-profit organization Child Watch of North America. Some of the corporate sponsors of Child Watch of North America are Shell, Epson, Continental Airlines, Toys "R" Us, and Pizza Hut. CWN delivers time-sensitive missing children information while providing a dynamic digital signage network for advertisers to reach on-the-go consumers with a targeted effective medium. Recently, the Company has acquired the international rights to market and sell Boondoggle Sports Network. The Company will initially focus on establishing a presence in the United Kingdom and will utilize management's experience and contacts to expand into other European countries.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements, other than the statements of historical facts, contained in this release which are not historical facts may be deemed to contain forward-looking statements with respect to events, the occurrence of which involves risk and uncertainties, including, without limitation, demand and competition for the Company's products and services, the availability to the Company of adequate financing to support its anticipated activities, the ability of the Company to generate cash flow from operations and the ability of the Company to manage its operations.

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