SEB Raises $2,143,800 of New Equity, 78% From Insiders

Smart Employee Benefits Inc. ("SEB") (TSX VENTURE:SEB) - SEB is pleased to
announce it has raised $2,143,800 of new equity over the past 4 months from the
conversion of a Convertible Note issued on acquisition and the exercise of
warrants. Of this amount, $1,673,750 or 78% was from insiders, including SEB's
Chairman, President/CEO, Independent Directors, Executive Management and
Employees. The details are as follows:




1.  Convertible Notes - $400,000 convertible @ $0.45 per SEB share 

--  Converted by an executive officer 

2.  Warrants Exercised by SEB's Chairman, President/CEO, Executive Officers
    & Employees 

--  @ $0.30 - 1,890,000 warrants for proceeds of $567,000 
--  @ $0.45 - 325,000 warrants for proceeds of $146,250 
--  @ $0.50 - 1,121,000 warrants for proceeds of $560,500
    Proceeds from these warrants totaled $1,273,750 

3.  Warrants Exercised by SEB's Underwriter 

--  @ $0.30 - 450,000 warrants for proceeds of $135,000 
--  @ $0.45 - 21,222 warrants for proceeds of $9,550.
    Proceeds from these warrants totaled $144,550. 

4.  Warrants Exercised by Arms-Length Investors 

--  @ $0.30 - 1,085,000 warrants for proceeds of $325,500. 



The cash proceeds from the exercise of warrants totaled $1,743,800. A
Convertible Note of $400,000 issued to a majority shareholder from an
acquisition was converted @ $0.45 per share.


ABOUT SEB: SEB is a technology company providing software, solutions and
services specializing in managing group benefit solutions and healthcare claims
processing environments for corporate and government clients. This is a $60.0
plus billion industry, of which over $37.0 billion relates to employee group
benefit plans and over $25.0 billion relates to other healthcare benefit claims
(e.g.: workers compensation claims, travel benefits, various federal and
provincial government programs, dental associations, drug associations, etc.).
In the employee group benefits industry, SEB operates as a licensed third party
administrator ("TPA") and insurance broker utilizing its software platform to
provide "totally hosted PCI compliant supply chain solutions" for managing the
complete group benefits business processes between insurers, clients, brokers,
consultants, technology service providers and healthcare service providers. In
healthcare claims processing, SEB also operates as a systems integrator
utilizing its technology platform together with other technologies to provide
customized solutions for highly specialized environments (e.g.: travel claims,
etc.). The technology and expertise deployed in this healthcare area also allows
SEB to provide other related supply chain, systems integration and human
resource solutions and services to the same clients.


Forward-Looking Statements

This news release is intended for information purposes only. Statements made in
this news release may contain "forward looking" information about the company's
future business prospects. These statements while expressed in good faith and
believed to have a reasonable basis - are subject to risk and uncertainties that
could cause actual results to differ materially from those set forth or implied
by such forward looking statements. Investors should consult a professional
advisor before making any investment decision.


For further information about SEB, please visit www.seb-inc.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Smart Employee Benefits Inc.
John McKimm
President/Chief Executive Officer
[phone]
[e-mail]


Smart Employee Benefits Inc.
Shelly Frank
Vice-President, Marketing
[phone] x 358
[e-mail]


First Canadian Capital Corp.
Daniel Boase
416-742-5600 x 232 or 1-866-580-8891
[e-mail] or
[e-mail]


First Canadian Capital Corp.
Eric Balog
416-742-5600 or 1-866-580-8891
[e-mail]