PhotoChannel Networks Inc.
TSX VENTURE : PNI
OTC Bulletin Board : PHCHF

PhotoChannel Networks Inc.

November 02, 2006 12:46 ET

PhotoChannel Networks Inc.: Trading Halt

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 2, 2006) -

1 for 10 Share Consolidation

PhotoChannel Networks Inc. (TSX VENTURE:PN)(OTCBB:PHCHF) ("PhotoChannel" or "Company"), the leading innovator in online digital media solutions for retailers wishes to clarify the halt that occurred in its common shares as traded on the TSX Venture Exchange. As of the open of the market on November 2, 2006, the Company's common shares in Canada were available for trading under its new symbol PN and Cusip No.: 719316 20 0 on a post consolidated basis of ten (10) old common shares for one (1) new common share. Due to timing difficulties its common stock continued to trade in the United States on a pre-consolidated basis under its old symbol PHCHF and Cusip No. 719316 10 1.

The Company expects to have its common stock in the United States trading on a post-consolidated basis by the open of market Friday, November 3, 2006. Once this correction has been made in the United States, the Company's common shares will resume trading on the TSX Venture Exchange under its new symbol PN on a post-consolidated basis.

About PhotoChannel: Founded in 1995, PhotoChannel operates PNI Digital Media to provide services for major retailers, wireless carriers and content providers. The PNI Digital Media Platform connects consumer ordered digital content with retailers that have on demand manufacturing capabilities for the production of merchandise. Currently PNI Digital Media generates transactions for retailers and their thousands of locations across North America. For more information please visit www.photochannel.com.


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