SOURCE: Virtual Media Holdings Inc.

January 19, 2007 16:30 ET

Virtual Media Holdings Inc. Announces Resignation of Management Team

LAS VEGAS, NV -- (MARKET WIRE) -- January 19, 2007 -- Virtual Media Holdings Inc. (OTCBB: VMHIF) announces the resignation of its entire board of directors and officers.

This includes Steve Gaspar, CEO, President and director as well as Christopher J. Gaspar the CFO, Secretary and a director.

Shareholders can expect a quick addition of the new management and introduction to their credentials as well a clear vision of Virtual Media Holdings' future.

Current and future shareholders are encouraged to sign up for email updates on our new website to stay up to the minute on new releases, reports, interviews, industry news and market related information. The sign up is located to the bottom left of the screen at http://www.virtualmediaholdings.com/

Shareholder inquires and suggestions are welcomed and should be directed to the Virtual Media Holdings Investor Relations Team at the toll free # 1-888-601-9983 or internationally at 1-503-618-0370 or via email at info@novakcapital.com.

About Virtual Media Holdings

http://www.virtualmediaholdings.com/

Virtual Media Holdings Inc. (OTCBB: VMHIF) is committed to changing the way merchants and consumers interact on the Internet.

Through its proprietary marketplace platform, a custom-built software framework that facilitates the direct consumer-to-consumer and business-to-consumer buying and selling of new and pre-owned merchandise, the system combines a customized content management system with core order processing engines adapted to each unique market.

The content management facilities support the creation of a comprehensive web-based user community for a specific market, including features such as session management, product reviews, live aggregated retail prices, forums, and community feedback. Order processing modules support market inventories, authenticated order processing, billing, order tracking, commissions, and other market-related tasks. Companies can achieve both increased web presence and revenues by partnering with VMHSales.com and using the company's unique e-commerce platform.

This press release contains forward-looking statements involving risks and uncertainties including statements regarding the Company's future performance. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual future results may differ materially from those anticipated, depending on a variety of factors which include, but are not limited to, our ability to leverage our technology, manage our growth, protect our intellectual property rights, attract new customers and general economic conditions affecting consumer spending, including uncertainties relating to global political conditions, such as terrorism and the conflict with Iraq. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.

Contact Information

  • Contact:

    Novak Capital
    Investor Relations:
    1-888-601-9983
    International/Domestic Toll call: 1-503-618-0370
    info@novakcapital.com