Shift Networks Inc.
TSX VENTURE : SHF

Shift Networks Inc.

October 30, 2006 07:00 ET

Shift Continues Increased Rate of Subscriber Acquisition in Q3 2006

CALGARY, ALBERTA--(CCNMatthews - Oct. 30, 2006) - Shift Networks Inc. ("Shift") (TSX VENTURE:SHF) announced today that it signed over 1,700 new subscribers for the third quarter of 2006, representing 425% growth over Q3, 2005. Shift's forward booked contracted revenues for the quarter were $1.8 million, an increase of 533% over Q3, 2005; total forward booked contracted revenue now exceeds $5.8 million. All Shift customers sign a minimum 36-month contract for business telephone services, purchase Shift phones, and a VoIP gateway to enable access to Shift's next generation network.

"We've continued to accelerate subscriber growth through the third quarter which tends to be cyclically lower due to the summer. We're also pleased to see more customers choosing our service because of the value it adds to their businesses, in addition to potential cost savings - a trend indicated by increases in our average revenue per subscriber in Q3 over the previous two quarters," said Shift Networks CEO, Trent Johnsen. "We anticipate a robust fourth quarter as we continue to innovate and grow our national network and roll out a number of new services not available from traditional Canadian telecommunications providers."

About Shift Networks

Shift Networks Inc. (TSX VENTURE:SHF) is reinventing the business phone company by combining premium Voice over IP (VoIP) technology, a strict focus on business customers, and unmatched customer service. Visit us at www.shiftnetworks.com.

Except for historical information, this press release contains forward-looking statements, which reflect the Company's current expectation regarding future events. These forward-looking statements involve risks and uncertainties, which may cause actual results to differ materially from those statements. Those risks and uncertainties include, but are not limited to, changing market conditions, and other risks detailed from time-to-time in the Company's ongoing filings. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events in this press release might not occur.

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