SOURCE: Next 1 Interactive Inc.

June 16, 2009 15:20 ET

Next 1 Interactive Inc. Announces Annual Financials and 10K Filing

FT. LAUDERDALE, FL--(Marketwire - June 16, 2009) - Next 1 Interactive Inc. (OTCBB: NXOI) announced today the company has filed its February 28, 2009 fiscal year end financial results and their annual 10K.

The company generated revenues of $2,755,608 in 2008 compared to $4,148,172 for the year 2007. The decrease was due to the soft USA economy resulting in less people traveling on expensive tours.

Next 1 Interactive Inc. operating losses were $1,843,567 for the fiscal year 2008, compared to losses of $3,487,342 in 2007.

The company's February 28, 2009 Balance Sheet records assets of $8,228,292 compared to $409,529 assets on February 29, 2008; the increase is due primarily to the October 30, 2008 acquisitions of Loop Networks Inc. and Home Preview Channel.

Next 1 Interactive Inc. management has developed a new business plan that will generate working capital, increase revenues and broaden its media products in 2009. The company announced on June 9th that the company is purchasing the full time TV programming Network, Resort and Residence TV from Colorado limited liability company Televisual Media Works, LLC. The purchase of Resort and Residence TV will open the doors to expand Next 1 Interactive's distribution from its current 1.6 million households to roughly 25 million households.

Bill Kerby, Vice Chairman and CEO states: "The company will focus on the purchase of Resort and Residence TV as the major revenue producing entity in the company, and strives for profitability in 2009."

About Next 1 Interactive Inc.

Next 1 Interactive Inc. (Next 1) is an interactive media company specializing in Digital Media with a focus on Travel and Lifestyle. Next 1 utilizes its online and offline expertise to deliver targeted content via digital platforms including broadcast, Cable, Satellite, Video on Demand enhanced by interactive applications, terrestrial and internet radio delivering a targeted media environment attractive to the consumers those brands want to reach. Through integrated, interactive promotional offerings and targeted marketing, our clients reach and engage the consumers who are the best customers for their offers. In today's digital market Next 1 Interactive delivers value and a measurable return on investment to its advertisers, sponsors and business partners.

About Televisual Media Works, LLC

Televisual Media Works, LLC (TVMW) is a privately held Denver-based media organization formed in 2007, with interests in a comprehensive suite of digital interactive television networks each targeting those specifically defined demographics so highly sought after by advertisers and distributors. TVMW boasts unsurpassed expertise in interactive programming and optimized content development. With over 20 years of success and expertise in the television advertising and content business, TVMW is the leader in advanced, transactional media.

This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plan, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks described in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements that may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

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