SOURCE: Virtual Media Holdings Inc.

January 26, 2007 19:05 ET

Virtual Media Holdings Inc. Completes Change to Upper Management and the Board of Directors

VANCOUVER, BC -- (MARKET WIRE) -- January 26, 2007 -- Virtual Media Holdings Inc. (OTCBB: VMHIF) is pleased to announce the company's new officers and directors.


Mr. Carroll has been a self-employed businessman for the past 15 years with a background in banking. He is familiar with the company's history as he was a director for the company for a short period of time in 2005.


Mr. Klassen has been a successful self-employed businessman since returning to Canada in 1986. He has been involved in Real Estate Development and the Food Brokerage business.

Prior to returning to Canada in 1986, he was a Vice President for a major U.S. bank. He spent 24 years in the banking industry in California and Southeast Asia.


Mr. Holden is the current Sales and Marketing Director for the company and has a strong background in sales. He has been instrumental in formulating the website and bringing sellers to our website. Mr. Holden's addition to the board of directors allows the company to maintain continuity as it goes forward.

New management is currently developing a formal business plan to take Virtual Media Holdings Inc. to the next level and shareholders can expect an update in the near future.


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 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.

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