SOURCE: Virtual Media Holdings Inc.

March 14, 2008 11:00 ET

Virtual Media Holdings Inc. to Complete a Merger

VANCOUVER, BC--(Marketwire - March 14, 2008) - Virtual Media Holdings Inc (OTCBB: VMHIF) -- Jim Carroll, Chief Executive Officer, announced that an agreement to merge with Biomass Waste Management Inc. has been completed in principal and will be finalized when the paperwork is completed by legal council.

This merger enters the company into a new area of business and plans are currently underway to design and develop a ten (10) mega watt power plant that will use biomass as a fuel. The timing of this merger could not be better as the BC Hydro has issued a Clean Energy Call for 5,000 Gwh per year for seasonal and hourly firm energy. Information on the energy call can be found at www.bchydro.com and look up clean power call.

Virtual Media Holdings Inc. has held discussions with a major brokerage firm to raise capital for this project and the response has been favorable. Additional information will be released as we move forward.

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. 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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