Glacier Ventures International Corp.

Glacier Ventures International Corp.

September 24, 2007 17:21 ET

Glacier to Commence Normal Course Issuer Bid

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 24, 2007) - Glacier Ventures International Corp. (the "Company" or "Glacier") (TSX:GVC), announced today that it has filed a Notice of Intention to make a normal course issuer bid to purchase, subject to regulatory approval, up to 2,500,000 common shares (2.7% of the outstanding common shares and 4.0% of the public float) from time to time during the next 12 months.

As of September 15, 2007, there were 93,350,608 common shares issued and outstanding. The purchases may begin September 26, 2007 and will end no later than September 25, 2008. The shares will be purchased for cancellation through the facilities of the TSX at market price. Pursuant to TSX policies, daily purchases made by the Company will not exceed 10,750 common shares (25% of the average daily trading volume of 42,999 common shares on the TSX), subject to certain prescribed exceptions.

Glacier has reached a scale of operations and financial position where the Company a) has significantly reduced its leverage from the time of the Hollinger Canada asset acquisitions at the end of 2005 and the beginning of 2006, b) is generating strong free cash flow in excess of its operating, debt service and sustaining capital investment requirements and c) can afford to finance acquisition opportunities in the local newspaper, trade and business and professional information markets from internal cash flow while maintaining a prudent financial position. Many significant acquisition opportunities continue to exist in Glacier's core business segments.

While Glacier intends to use its excess free cash flow to pursue these acquisition opportunities on an ongoing basis, the Company believes that the market price of its common shares has in the past and may be such going forward that the purchase by the Company of its own shares may be an appropriate use of a portion of its corporate funds to increase shareholder value.

Shares in Glacier can be traded on the Toronto Stock Exchange under the symbol GVC.

About Glacier

Glacier Ventures International Corp. is an information communications company focused on expanding across North America through both internal growth and the strategic acquisition of information communications companies that provide essential information and related services through print, electronic and online media in the local newspaper, trade and business and professional information markets.

Forward Looking Statements

Certain statements in this press release are not historical and may constitute forward-looking statements reflecting financial performance. Investors are cautioned that all forward-looking statements involve risks and uncertainties. Forward-looking statements are based on management's estimates, beliefs and opinions on the date the statements are made. Glacier assumes no obligation to update forward-looking statements if circumstances should change. Additional information on these and other potential factors that could affect Glacier's financial results are detailed in documents filed from time to time with the applicable Canadian securities regulatory authorities.

The Toronto Stock Exchange has neither approved nor disapproved the form or content of this release.

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