PhotoChannel Networks Inc.
TSX VENTURE : PN
OTC Bulletin Board : PNWIF

PhotoChannel Networks Inc.

April 29, 2008 05:00 ET

PhotoChannel Signs Contract With Costco USA to Deploy Online Photo Services

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 29, 2008) - PhotoChannel Networks Inc. (TSX VENTURE:PN)(OTCBB:PNWIF) ("PhotoChannel" or "PNI"), a leading innovator in online digital media solutions for retailers today, has signed a three year definitive agreement with Costco USA ("Costco") to provide and operate the Costco online photo service, which will be connected to all 391 Costco locations in the US. The service will launch imminently and will allow Costco Members to easily upload and place orders for prints, greeting cards, calendars and other photo gift items on the Costco photo website with options to pick up their prints within an hour and/or have their order shipped to their home. PhotoChannel also provides online photo services to Costco in Canada.

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

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future events or developments, including the execution of a formal agreement with Costco USA, the timing of the launch of the online photo service, and that such launch will be seamless to member, are considered forward looking statements by PhotoChannel. Although PhotoChannel believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the fact that agreement may not be reached on the terms of a definitive agreement, delays may occur in launching the service as a result of a number of factors, including delays in development of the service, delays in training Costco staff to use the new service, and delays in transitioning Costco member information. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Delays in launching the service could adversely affect PhotoChannel's results of operations. For more information on the PhotoChannel, investors should review PhotoChannel's Annual Information Form and annual Management Discussion & Analysis in Canada available on the SEDAR website at www.sedar.com, PhotoChannel's Form 20F available on Edgar, and PhotoChannel's short form prospectus and registration statement dated August 10, 2007 (prospectus) and effective August 15, 2007 (registration statement). PhotoChannel does not undertake any obligation to release publicly any revisions to any "forward-looking statement" to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

Contact Information

  • PhotoChannel Networks Inc.
    Mr. Kyle Hall
    (604) 893-8955 ext. 313
    or
    PhotoChannel Networks Inc.
    Ms. Niti Maini
    (604) 893-8955 ext. 313
    Email: nmaini@PhotoChannel.com
    or
    PhotoChannel Networks Inc.
    Investor Information
    1-800-261-6796
    Website: www.photochannel.com