PhotoChannel Provides Business Update

No visible impact from economic slowdown

Vancouver, BC - October 29, 2008- PhotoChannel Networks Inc. (TSX-V: PN and OTCBB: PNWIF) ("PhotoChannel" or "PNI" or "Company") the leading innovator in digital media solutions for retailers today provides its investors with a business update.

"We are very pleased with the progress that the Company has made over this past fiscal year," says Kyle Hall, Chief Executive Officer of PhotoChannel. "Although the economy has slowed and consumer confidence is being reported to have reached record lows, we are continuing to see strong growth in our sector. We are confident this will result in significant revenue growth and transaction volumes during fiscal 2009."

"PhotoChannel launched a number of large photofinishing retailers this past year. We are now EBITDA positive and anticipate this to carry on going forward. We believe that 2008 will be seen as the turning point for PhotoChannel and its shareholders in the years to come."

Business highlights for PhotoChannel's 4th quarter 2008 (July - Sept):

  • Total orders handled during the quarter of 3,091,203, a 184-per-cent increase over fourth quarter 2007 and a 59% increase over third quarter 2008; and
  • Average orders per day of 33,600, compared with 11,797 during the same quarter of fiscal 2007.

    • New business partners in fiscal 2008:

  • Loblaw Companies Limited (launched March 2008);
  • SAM's Club USA (launched March, 2008);
  • Costco USA (launched June, 2008);
  • Kmart Australia (launched July, 2008);
  • Hallmark U.K. (launched August, 2008); and
  • Kodak China (launched September, 2008).

    • New business partners launched in October:

  • Kodak Express stores in Australia; and
  • Myer Pty Ltd. In Australia

    • PhotoChannel anticipates filing and reporting on its fourth quarter and fiscal year end 2008 the week of December 15, 2008. Further details of a conference call and webcast will be provided closer to the release date.

    About PhotoChannel- Founded in 1995, PhotoChannel operates PNI Digital Media to provide services for major retailers, wireless carriers and content providers. The PNI Digital Media Platform connects consumer ordered digital content with retailers that have on-demand manufacturing capabilities for the production of merchandise. PNI Digital Media generates transactions for retailers and their thousands of locations worldwide. For more information please visit www.photochannel.com


    For more Information, Contact:

    PhotoChannel Networks Inc.

    Ms. Niti Maini
    (604) 893-8955 ext. 313
    nmaini@photochannel.com
    Investor Information: (800) 261-6796

    Website: www.photochannel.com

    		 
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