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

Fifty-Plus.Net International Inc.

June 01, 2006 16:55 ET

Fifty-Plus.net International Inc.: Introduction of New Dating Website & Changes in Management

TORONTO, ONTARIO--(CCNMatthews - June 1, 2006) - Fifty-Plus.net International Inc. (TSX VENTURE:FPN) is pleased to announce the launch of its dating and relationships website, www.50plusrelationships.com. The site is linked to the Fifty-Plus' website, www.50Plus.com. In just two months since its beta release, over 2,500 men and women have posted profiles on the service.

The site has been designed to be easy for an older audience to use. The rules are short and easy to follow. Users are given a 30 day free trial with full functionality including the ability to post a profile with a picture, search other profiles, and send instant messages to people they are interested in. The system will also suggest matches, based on new profiles coming in.

After the expiry of the trial period, users are given 3 payment options for quarterly, semi-annual, or annual terms. Subscription fees range from $29.99 for 90 days through $79.99 for a year.

"We believe that many in this demographic are looking for people their own age but may feel somewhat hesitant or uncomfortable posting their profiles on dating websites geared to a younger audience," said Executive Vice President David Cravit. "Here is a site where they can network and reach out to people who have had similar experiences and have lived long enough to know what they want out of a relationship."

Chief Information Officer Andrew Shaw believes experienced users will appreciate the "no-hassle" terms and conditions and simple interface, while novice users will appreciate the 30-day free trial and the built-in profile creation tools designed to help eliminate 'writer's block' that some may experience when asked to describe themselves.

As the 50-plus population continues to increase rapidly, it is expected the market for an online dating and relationship service specifically geared to this age group will get even stronger. The 50Plus Relationships website extends the trusted www.50plus.com brand and provides a safe, user-friendly environment for the new waves of first-time computer daters - and a potentially important source of incremental revenue for the company.

Fifty-Plus also announces the resignations of Gordon Poland as CFO, and Elliot Cohen as a director. The CFO position will be assumed by Eric Vengroff, President, on an interim basis. Mr. Poland previously held the dual position of President and CFO from 2002-2005, and Mr. Vengroff had previously been CFO, originally assisting in taking Fifty-Plus public in 1999.

"We thank both gentlemen for their years of dedication and service to the Company during its formative years", said Eric Vengroff, President. "Both made invaluable contributions to the business and will continue to be friends to the Company in the future."

Mr. Poland was also, and continues to be, the Publisher of CARP Magazine. As the official publication of CARP, the magazine supplies all of its content to the 50Plus Group of sites, including www.50Plus.com and www.CARP.ca, a position "that requires my full-time attention, and as such does not afford much time for the CFO duties of another company", stated Mr. Poland. Mr. Cohen resigned his position on the Board of Directors for personal reasons. The Company has not selected a replacement for him at this time.

About Fifty-Plus.Net International Inc.

Fifty-Plus.Net International Inc. operates The 50Plus Group, a portfolio of Internet properties providing unique content, community and commerce for people over the age of 50. The properties include www.50plus.com and www.carp.ca, the online home of CARP, Canada's Association for the Fifty-Plus, the country's largest 50-plus advocacy group with more than 400,000 members and of 50Plus magazine, Canada's magazine for people over the age of 50, with readership of over 840,000.

The 50Plus Group also produces six electronic newsletters. 50Plus.com is also an anchor partner with AOL Canada and Microsoft Canada for content directed at this audience.

Fifty-Plus.Net International Inc. trades under the symbol FPN on the TSX Venture Exchange.

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

Contact Information

  • Fifty-Plus.Net International Inc.
    Eric Vengroff
    President
    (416) 363-8748 ext. 237
    ericv@50plus.com