Metamedia Capital Corp.

Metamedia Capital Corp.

August 19, 2005 15:11 ET

Metamedia Capital Corp. Australian Subsidiary

CALGARY, ALBERTA--(CCNMatthews - Aug. 19, 2005) - Metamedia Capital Corp. (TSX VENTURE:MME) ("Metamedia" or the "Company") is pleased to announce the commencement of operations in Australia through its new subsidiary, Metamedia Corp. Australasia Pty Ltd. ("Australasia"), based in Melbourne.

Metamedia owns 99% of Australasia, with our local partner, Mr. Nick Kolendrianos, owning the remaining 1% of the company. The directors of Australasia are Mr. Kolendrianos and Mr. Alexandros Kostis, President and CEO of Metamedia.

Australasia is commencing commercial operations with Melbourne as the base for the entire Southeastern Asia and Australia, where nearly 1,000,000 Hellenic descent individuals reside.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.

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