SOURCE: JumpTV

August 31, 2007 16:00 ET

JumpTV Closes XOS Broadband Network Acquisition

TORONTO--(Marketwire - August 31, 2007) - JumpTV Inc. (AIM: JTV) (TSX: JTV) is pleased to announce that the acquisition of the Broadband Network business unit of XOS Technologies Inc. ("XOS Network"), disclosed on July 17, 2007, is closing today. The consideration for the sale was US$60.25 million in cash and up to 3 million retention warrants for employees of XOS Network.

As part of the consideration employees of XOS Network have been initially granted 1.75 million common share purchase warrants permitting the holders to buy one common share at an exercise price equal to the average closing prices of JumpTV stock on the Toronto Stock Exchange on the last trading day of each of June, July, August and September 2007, exercisable for a period of 5 years. Each warrant will vest 1/48th per month for the employees. The grant of 1.25 million of the total 1.75 million warrants is subject to shareholder approval.

About JumpTV

JumpTV (AIM: JTV) (TSX: JTV) is a leading distributor of live international television and sports over the Internet. With over 300 TV channels from 75+ countries, JumpTV delivers full-screen sports, news and entertainment content on a real-time basis from all corners of the globe to computers, Internet-enabled TV sets, IP set-top-boxes and cell phones with browser access.

Forward-looking statement

Certain statements herein may constitute forward-looking statements, including those identified by the expressions "may," "will," "should," "could," "anticipate," "believe," "plan," "estimate," "potential," "expect," "intent" and similar expressions to the extent they relate to JumpTV or its managements. These statements reflect JumpTV's current expectations and are based on information currently available to management. These forward-looking statements are subject to a number of risks, uncertainties, assumptions and other factors that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risk Factors" contained in JumpTV's prospectus (admission document) dated August 1, 2006 and the matters discussed under "Risk Factors" contained in JumpTV's final short form prospectus dated February 19, 2007. These forward-looking statements are made as of the date hereof, and JumpTV assumes no obligation to update or revise them to reflect new events or circumstances.

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