Savers Plus International Inc.

Savers Plus International Inc.

April 16, 2007 10:13 ET

Savers Plus Invests into

TORONTO, ONTARIO--(CCNMatthews - April 16, 2007) - Savers Plus International Inc. ("Savers" or the "Company") (TSX VENTURE:SAV) announced today it is in receipt of a subscription document in the amount of One Million, One Hundred and Eighteen Thousand CDN ($1,118,000) for its previously announced debenture offering to accommodate the closing of the Company's investment in Beverly Hills, CA based No Good Television Inc.

As previously announced, subject to the approval of the TSX Venture Exchange, Savers has received a commitment from a Toronto based, private equity fund to invest into Savers allowing the Company to make a strategic investment in NGTV. The Agreement provides for an option to extend the term for an additional two years, with certain renewal options and rights of first refusal covenants, for a total term of five (5) years.

In addition to Canada, and rights to expand to the UK and Europe, the amendment to the Agreement is expected to provide Savers with the ability to extend its rights, on a first right of refusal basis, to include China, Indonesia, Japan, Malaysia, New Zealand, the Philippines, Singapore, South Korea, Taiwan, Thailand and Australia.

The subscription received is for a convertible debenture offering that will mature two (2) years from the date of closing, carry a ten percent (10%) interest rate, and have the ability to convert to common shares of the Company at $0.28 CDN each. In addition each convertible debenture unit will have attached 3,333 common share purchase warrants, valid for 24 months from the time of closing, with an exercise price of $0.40 CDN. The common share purchase warrants will be issued immediately upon closing of the private placement, and will not require the investor to convert the principal of the convertible debenture to common shares.

In addition, subject to approval by the TSX Venture Exchange, the Company has secured, a non brokered private placement equity units of up to $500,000 CDN. Each unit will be priced at $0.25 CDN and consist of one common share and one half of one warrant. Each whole Warrant will entitle the holder to purchase one additional common share of the Corporation at a price of $0.35 CDN for up to 18 months. The Company expects to close this offering by April 23, 2007. The proceeds will be used to complete the Company's current investment into NGTV.

Savers will invest, into NGTV on the basis of receiving a one (1) year Junior Secured Debenture bearing 12% interest per annum, and a conversion provision at 50% of the IPO offering price in the event NGTV goes public. In the event that NGTV does not go public within one year, the Company will be repaid by NGTV with any accrued interest.

A commission of 7% will be paid to eligible parties.

Savers Changes Name to Intertainment Media Inc.

On April 10, 2007, the Company's shareholders approved changing its name to Intertainment Media Inc. The Company has submitted formal documentation to the TSX Venture Exchange to approve the name change.

Savers Appoints New Chief Financial Officer

The Company is pleased to announce the appointment of Debra Farquharson, BBM, CA, as its new Chief Financial Officer. Ms. Farquharson is a Chartered Accountant with more than 25 years of industry and private practice experience, originally qualifying with Price Waterhouse Coopers in 1980. She has extensive senior management and entrepreneurial experience in a wide range of industries, including CFO for various publicly traded companies. She has been actively involved in the community leading a number of business committees and groups. Ms. Farquharson replaces Mr. Mark Wiseman, who was instrumental is assisting the Company is reaching this stage of its business development. The Board of Directors thanks Mr. Wiseman for his continued support, and wishes him well in his future endeavors.

About Eye Rock Digital

The Company's wholly owned US subsidiary Eye Rock Digital Inc. (, is a leading edge provider of video on demand, digital content, distribution, advertising and production. Eye Rock Digital aggregates and creates digital content aimed at the young, hip and technologically savvy young adult market. Eye Rock Digital develops programming for simultaneous delivery over broadband and wireless platforms.

About Savers Plus International Inc./Intertainment Media Inc.

The Company and its divisions, provide proprietary programs for clients to build Brand, Loyalty and Revenues.

Working with industry leading firms in the financial sector, real estate, insurance, media, telecommunications, entertainment, electronic gaming, travel, automotive and services sectors, the Company initiates proprietary business building solutions that increase customer activity and strengthen customer-vendor relationships.

The Company maintains a fully integrated creative, web, technology and graphics production facility to service its growing client base, and works with company owned and managed systems with vendors throughout North America and Europe. The Company developed proprietary technologies for managing these programs and manufacturing its offerings.

Savers Plus International Inc. is headquartered in Richmond Hill, Ontario, Canada. Its shares trade on the TSXV (symbol: SAV).

This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not undertake any duty to update any forward-looking statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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