OMT Inc.
TSX VENTURE : OMT

OMT Inc.

April 28, 2009 17:59 ET

OMT Executes Extension Agreement to Defer Debt Interest Payments

WINNIPEG, MANITOBA--(Marketwire - April 28, 2009) - OMT Inc. (TSX VENTURE:OMT): Bill Baines, Chief Executive Officer of OMT Inc., announced today that the primary holders of OMT Inc.'s convertible debt have agreed to further extend the current agreement to defer interests payments on the debt.

GrowthWorks Canadian Fund Ltd., Ensis Investment Limited Partnership and Renaissance Capital Manitoba Ventures, who together hold $3,000,000 of OMT's convertible debt, have provided OMT with a signed waiver to defer the monthly interest payments, representing approximately $20,000 per month, until such time that OMT's cash reserves accumulate to $500,000. Interest will continue to be paid monthly on the remaining debt of $995,000 represented by CIBC Mellon Trust Company.

"GrowthWorks is both a debt holder and a significant shareholder. Our support for OMT continues and it is advantageous to allow OMT to deploy their available cash resources to execute on the various strategies supported by the Board of Directors", stated Harold Heide, VP - Investments at GrowthWorks Canadian Fund.

"Renaissance is very supportive of OMT and agrees that marketing, customer acquisition and product support are key areas of focus for continued success in 2009", said Kevin Hooke, Renaissance Capital.

OMT will accrue the deferred interest until such time that is it paid in the future. There are no penalties, changes in terms or additional costs associated with the interest deferral arrangement.

About OMT

OMT Inc. (OMT) is a technology solutions and content provider to the broadcast, entertainment and retail industries across North America and Internationally. iMediaTouch is OMT's radio broadcast solution used by our clients to distribute audio content heard by millions of people worldwide through television, radio, satellite, cable and internet broadcasts. OMT's Intertain division enables retail and commercial clients with background music, in-store messaging, on-hold features and digital signage solutions to enhance the overall shopping experience. To learn more about our Company, products and services, visit www.omt.net.

The TSX Venture Exchange has not reviewed or approved the contents of this press release.

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