SOURCE: Virtual Media Holdings Inc.

March 25, 2008 08:30 ET

Virtual Media Holdings Inc. Updates Shareholders on Merger

VANCOUVER, BC--(Marketwire - March 25, 2008) - Virtual Media Holdings Inc.'s (OTCBB: VMHIF) Chief Executive Officer, Jim Carroll, stated that the company will change its name to Biomass Secure Power Inc. upon completion of the merger with Biomass Waste Management (BWM).

BWM is a good fit as they have completed extensive research into the biomass to energy industry and can ensure that a steady supply of fuel is available for a power plant. We are currently preparing an application for submission to BC Hydro to construct a 10 mega watt power plant. Once our application is approved we will sign a 15 to 20 year contract with BC Hydro to sell them all of the power produced. Estimated cost of the power plant will be eighteen million dollars and we should recoup our capital cost in four years.

We are excited about entering this field as governments throughout North America are mandating that more energy be produced from green sources and contribute to the reduction of CO2 emissions. We will also generate carbon credits that can be sold or traded generating an addition income stream.

The company advises shareholders that Jim Carroll is a shareholder in Biomass Waste Management.

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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