SOURCE: Wi-Fi TV Inc.

February 23, 2007 09:15 ET

Wi-Fi TV to Spend $1 Million on Marketing and Development of Phase 2 of Social Internet TV With Launch Set for May 1

Green Light to New Ideas Comes as Phase 1 of Site Surpasses Global Expectations and Company Reviews Finance Offers

NEWPORT BEACH, CA -- (MARKET WIRE) -- February 23, 2007 -- Wi-Fi TV Inc. (PINKSHEETS: WTVI) which launched its new Social Internet TV website this week (www.Wi-FiTV.com) and quickly scored its biggest viewing day in the company's twelve year history, has announced a $1 million development and marketing budget for a new Phase 2 launch on May 1.

Wi-Fi TV Inc.'s Chairman Alex Kanakaris and his team have created several challenges for the development team in Atlanta, the Ukraine and London to take user video and live TV to the next level on the Internet. Now that Phase 1 is complete and being tweaked, Wi-Fi TV Inc. is committing an additional $1 million to the development, launch and marketing of Phase 2 of Social Internet TV, and has set the new launch date for May 1.

"While certain market makers seem to be selling Wi-Fi TV short, the company has received multiple indications of interest from financiers and other interested parties in continuing to bring Wi-Fi TV to both an enlarged user base and to representation on additional stock exchanges, and has set the stage for major viewer and advertising growth. The consumer response has been off-the-charts positive," said Chairman Kanakaris.

"We will not rest until we have done everything possible to achieve our goal of one of the highest rated and most influential websites in the world. While anyone can set lofty goals, the fact is that we have come out of nowhere into the top 100,000 web sites in the world and we haven't even advertised yet. With the revenue projections from advertising, station sales, premium channels and product sales, we feel we have a solid business plan. The key is users, and independent tracking shows that we are rocketing in user attention," said Kanakaris.

"We really would delight in proving the cynics and critics wrong and demonstrate that a little company has no limit in its potential on the Internet. We are bolstered by the real world response to Phase 1 of Social Internet TV and can't wait to demonstrate the next phase of our ideas and vision and how it relates to paid targeted video advertising," Kanakaris concluded.

Wi-Fi TV Is a Pioneer In Online TV

Wi-Fi TV Inc. has long touted the coming convergence of TV and the Internet and was established twelve years ago, and provided the first online movie in December 1995. The Wi-Fi TV web site is the only place on the Internet where you can watch hundreds of TV stations and chat with others watching the same program in a live chat box directly under the viewing screen, and get breaking news for each country and category listed, and download a dialer and make free phone calls all on one website.

About Wi-Fi TV Inc.

Wi-Fi TV Inc. provides a new generation TV delivery platform that has a geographic sphere out-distancing any traditional cable or over-the-air TV broadcaster. Wi-Fi TV memberships are free at www.Wi-FiTV.com and include such perks as free online phone calls and free chat and free online parties.

Ownership of Wi-Fi TV Stations is available at $25,000 (full details are on the web site www.Wi-FiTV.com). Several financing options are available.

The Wi-Fi TV Channel Sales Blog is at http://www.wi-fitvchannelsales.blogspot.com

The company was launched in 1995 and has been publicly traded since November 1997, and has been a pioneer in the delivery of video and books over the Internet.

Press Relations

Wi-Fi TV Inc. has opened a content and technology demo room for the press in Newport Beach, California. For further information contact Colby Marceau, (949) 716-9397, info@wi-fitv.com.

Forward-Looking Statements

Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement. Wi-Fi TV and Social Internet TV are trademarks of Wi-Fi TV Inc. and all rights pertaining to these names are reserved. This press release shall not be deemed a general solicitation.

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