Lingo Media Corporation
TSX VENTURE : LM
OTC Bulletin Board : LMDCF

Lingo Media Corporation

May 29, 2009 13:17 ET

Lingo Media Reports First Quarter Results

TORONTO, CANADA--(Marketwire - May 29, 2009) - Lingo Media Corporation (TSX VENTURE:LM)(OTCBB:LMDCF) ("Lingo Media" or the "Company"), a leader in online and print-based English language learning solutions, and Speak2Me Inc. ("Speak2Me") its wholly owned subsidiary, a state-of-the-art online English language learning service, announces its financial results for the three months ended March 31, 2009. All figures are reported in Canadian dollars, and are in accordance with Canadian GAAP unless otherwise noted.

Business Highlights

- Strengthened management team with the addition of Steven Chiu as Speak2Me President, Greater China in February. Mr. Chiu is focused on revenue generation from Speak2Me's Conversational Advertising™ and Speak2Me's Business English training products, and is building a sales team in China that is aggressively developing sales pipelines.

- Showcased Speak2Me's Business English 101 corporate training premium content and custom training services as invited guest speakers at the 3rd Chinese Enterprises Outbound Investor Conference in Beijing. Addressed the widely-acknowledged need for business English training to the audience of more than 100 investors during this key event co-hosted by the China Council for the Promotion of International Trade and China's Ministry of Commerce.

- Launched www.speak2me.com/advertising landing page to promote Speak2Me's Conversational Advertising platform. The site will be used as a proactive sales tool to increase advertising leads for our unique Conversational Advertising offering in China.

- Completed research commissioned with Hotspex, a market research company that services global Fortune 100 companies, to understand the impact that Speak2Me Conversational Advertising has on brand awareness and purchase intent. Preliminary findings indicate that consumers that went through a branded Conversational Advertising lesson resulted in significant increased purchase intent and brand recognition. These findings validate the benefits and return-on-investment of Conversational Advertising, thereby strengthening Speak2Me's value proposition.

- Speak2Me developed additional Conversational Advertising immersive lessons for Mercedes Benz (China) to further support its smart car launch in China.

Michael Kraft, President & CEO of Lingo Media said, "Lingo Media continues to drive revenue from its book publishing business, Lingo Learning whose long term relationships in China are instrumental in developing opportunities for our new and exciting subsidiary Speak2Me. At Speak2Me, we are committed to our vision to deliver the best technology-based solutions for learning spoken English. We have launched a landing page at www.speak2me.com/advertising for advertisers to learn more about Speak2Me's Conversational Advertising platform. We are committed to developing Speak2Me into an interactive English learning experience that is fun, effective and relevant."

Financial Highlights

First quarter revenue from continuing operations was $55,320 compared to $nil in Q1-08. Loss from continuing operations for the quarter ended March 31, 2009 was $455,135 or $0.04 per share compared to a loss from operations of $394,019 or $0.04 per share for the quarter ended March 31, 2008. Gain from discontinued operations from the quarter ended March 31, 2009 was $351,109 or $0.03 per share compared to a loss from discontinued operations of $59,535 or $0.01 per share for the quarter ended March 31, 2008. Net loss for the quarter ended March 31, 2009 was $104,026 or $0.01 per share compared to a net loss of $453,552 or $0.05 per share for the quarter ended March 31, 2008.

The financial statements for the three months ended March 31, 2009 and Management Discussion & Analysis are available at www.sedar.com.

About Speak2Me

Speak2Me (www.speak2me.cn), a wholly-owned subsidiary of Lingo Media, is an online English Language Learning ("ELL") community that incorporates Lingo Media's proven pedagogy with fun, interactive lesson modules to address the rapidly growing need for spoken English worldwide. Speak2Me's groundbreaking service uses speech recognition technology to teach spoken English online through more than 350 targeted lessons that engage users in interactive conversations with a virtual teacher. A unique social-networking infrastructure that allows students to form study groups and offers contests, prizes and other incentives, creates a learning environment that engenders co-operation and competition, just as in a conventional classroom. Speak2Me's patent-pending Conversational Advertising™ platform allows Speak2Me to provide its innovative offering to end-users at no cost. In addition, Speak2Me offers premium content development services and custom training modules to support businesses and institutions that require English language training for their personnel. For more information about Speak2Me and its business offerings, please visit www.speak2me.com/advertising.

About Lingo Media (TSX VENTURE:LM)(OTCBB:LMDCF)

Lingo Media (www.lingomedia.com) is a diversified online and print-based education products and services corporation focused on English Language Learning ("ELL") on an international scale through its Lingo Learning Inc. subsidiary, a print-based publisher of ELL programs in China, and Speak2Me, an online ELL community. Lingo Media has formed successful relationships with key government and industry organizations, establishing a presence in China's education market of 250 million students. Since 2001, the Company has published more than 278 million units in China from its library of 340 program titles, and 350 online speaking lessons and 250 eZines. Lingo Media continues to expand its ELL offering and extend its reach on a global scale.

To learn more, visit www.lingomedia.com and www.speak2me.cn

Portions of this press release may include "forward-looking statements" within the meaning of securities laws. Forward-looking statements contained in this press release are made pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and involve certain risks and uncertainties. Actual results may vary materially from management's expectations and projections and thus readers should not place undue reliance on forward-looking statements. Certain factors that can affect the Company's ability to achieve projected results are described in the Company's filings with the Canadian and United States securities regulators available on www.sedar.com or www.sec.gov/edgar.shtml.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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