TORONTO, ONTARIO--(Sept. 26, 2008) - Intertainment Media Inc. ("Intertainment" or the "Company")(TSX VENTURE:INT) is pleased to announce that on September 16, 2008 the Company completed the first tranche of its previously announced brokered private placement for proceeds of $286,000 CDN (the "Offering").

At this closing 2,860,000 units (the "Units") were issued at a price of $0.10 per Unit comprised of one (1) common share and one (1) common share purchase warrant with an exercise price of $0.18, valid until September 16, 2010. The Company has the right to accelerate the common share warrant redemption should the closing price be $0.30 or higher for 30 consecutive trading days at any time prior to September 16, 2010. The securities issued pursuant to this private placement are subject to a statutory resale period of four months, which expires on January 17, 2008.

D&D Securities Company, the Broker for the Offering, received fees of $22,080 in cash commissions and 228,800 in options to purchase Units, which options expire on March 16, 2010.

Following the completion of the Offering the Company has 59,509,688 common shares issued and outstanding.

The Offering was previously disclosed in a press release dated July 8, 2008. On August 29, 2008 the TSX Venture Exchange Inc. approved a 30 day extension for completion of the Offering. The Company expects to complete additional tranches of the Offering prior to September 28, 2008.

The capital raised from the Offering will be used for strategic growth opportunities and for general corporate purposes.

About Intertainment

Intertainment Media Inc. (www.intertainmentmedia.com) is a conventional and new media company with an experienced and innovative team of professionals focused on delivering leading edge technology and marketing solutions. Intertainment develops and invests in strategic programs that enable clients to increase their branding and loyalty relationships with their consumers while focusing on increased revenue generation. Intertainment owns, operates and invests in high value content, traffic management, advertising and social networking solutions including, Eye Rock Digital (www.eyerockdigital.com) No Good TV (www.ngtv.com), Trooker Inc. (www.trooker.com), and Itibiti Inc. Intertainment Media Inc. is headquartered in Richmond Hill, Ontario, Canada. The company is listed on the Toronto Venture Exchange (symbol: INT).

This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not undertake any duty to update any forward-looking statements.