Musicrypt Inc.
OTC Bulletin Board : MCYPF
TSX VENTURE : MCT

Musicrypt Inc.

June 30, 2005 16:30 ET

Options

TORONTO, ONTARIO--(CCNMatthews - June 30, 2005) - Musicrypt Inc. (TSX VENTURE:MCT)(OTCBB:MCYPF) has granted 600,000 options exercisable at $0.42 per share to directors and officers. These options will only become exercisable when certain performance criteria established by the compensation committee of the board, such as revenue and profitability targets, are achieved. All of these options expire May 19, 2010 and are subject to standard vesting provisions. At the date of grant these option exercise prices were set at the three-month weighted average price.

About Musicrypt:

Musicrypt's patented Digital Media Distribution System (DMDS) is the leading secure B2B digital delivery solution for the music industry. DMDS is a web-based delivery system that pioneers secure digital file distribution by incorporating biometrics, high-value encryption and watermarking. The first application of DMDS replaces the physical distribution of new musical recordings by record companies from the studio, internally, and to radio stations with more secure, more effective and less costly digital distribution of broadcast quality media via the Internet. Musicrypt trades on the TSX Venture Exchange (TSX-V) under the symbol MCT and in the U.S. under OTCBB:MCYPF. For more information on Musicrypt, please visit www.musicrypt.com.

The statements contained in this release that are not purely historical are forward-looking statements and are subject to risks and uncertainties that could cause such statements to differ materially from actual future events or results. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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