Rewards Network Inc. Announces Nomination of Seven Directors to its Board

  
    
  
  
    
      Rewards Network Inc. (AMEX:IRN), a leading provider of marketing 
      services and frequent dining programs to the restaurant industry, today 
      announced the nomination of seven directors to stand for election at the 
      Company’s Annual Meeting of Stockholders. As 
      approved by the current Board, the proposed slate of directors reduces 
      the size of the Company’s Board by three 
      members and includes six independent nominees.
    
    
      Marc Particelli and Michael Soenen are nominated for election to the 
      Rewards Network Board for the first time. Mr. Particelli and Mr. Soenen 
      were initially recommended as possible nominees by current directors who 
      are not standing for re-election.
    
    
      Mr. Particelli is the Chairman of the Board of Coactive Marketing Group, 
      Inc., a provider of integrated marketing services for manufacturers of 
      packaged goods and consumer products. Mr. Soenen is the Chairman of the 
      Board, President and Chief Executive Officer of FTD Group, Inc., a 
      leading provider of floral and specialty gift products to consumers and 
      retail florists.
    
    
      Current Board members standing for re-election are: Donald J. 
      Liebentritt, Chairman of the Board; Ronald L. Blake, President and Chief 
      Executive Officer; and the chairmen of the Board’s 
      three standing committees: Raymond A. Gross, Chairman of the Audit 
      Committee; F. Philip Handy, Chairman of the Corporate Governance and 
      Nominating Committee; and Mark R. Sotir, Chairman of the Compensation 
      Committee. Bios of all Rewards Network Board nominees can be found in 
      the Company’s proxy statement and on the 
      Company’s investor relations website at 
      investor.rewardsnetwork.com.
    
    
      The Company also announced that Adam M. Aron, Karen I. Bremer, Peter 
      C.B. Bynoe, Harold I. Shain and John A. Ward, III have chosen not to 
      stand for re-election.
    
    
      “In determining this year’s 
      slate of director nominees, we decided to reduce the size of the Board 
      and identified a slate of candidates that could provide our management 
      team with a broad range of resources,” said 
      Don Liebentritt, the Board's Chairman. “The 
      unique backgrounds and skill sets of Marc Particelli and Mike Soenen, 
      combined with the institutional knowledge and leadership of the current 
      Board members running for re-election, can provide the management team 
      with both continuity and new perspectives.”
    
    
      Liebentritt continued, “I would like to thank 
      all of our departing Board members for their commitment, leadership and 
      guidance to Rewards Network throughout the years.”
    
    
      The Company’s Board of Directors will be 
      voted on at the Rewards Network 2008 Annual Meeting of Stockholders to 
      be held on Monday, May 12, 2008 at 10:00 a.m. (Central time) at 1 North 
      Wacker Dr., 2nd Floor Conference Center, Chicago, Illinois. Rewards 
      Network filed a proxy statement in connection with its 2008 Annual 
      Meeting of Stockholders with the Securities and Exchange Commission on 
      April 2, 2008. The proxy statement is currently being distributed to the 
      Company’s stockholders, who are strongly 
      advised to read the proxy statement because it contains important 
      information. Stockholders can obtain this proxy statement for free at 
      the Internet website maintained by the Securities and Exchange 
      Commission at www.sec.gov or at the 
      Company’s investor relations website at 
      investor.rewardsnetwork.com.
    
    
      About Rewards Network
    
    
      Rewards Network Inc. (AMEX:IRN), headquartered in Chicago, IL, operates 
      the leading frequent dining programs in North America. Thousands of 
      participating restaurants and other merchants benefit from the Company's 
      extensive email, internet and print marketing efforts; member 
      ratings/feedback and other business intelligence; and access to capital. 
      In conjunction with major airline frequent flyer programs and other 
      affinity organizations, Rewards Network provides over three million 
      members with incentives to dine at participating restaurants. These 
      incentives include airline miles, college savings rewards, reward 
      program points, and Cashback Rewards(SM) savings. For additional 
      information about Rewards Network, visit www.rewardsnetwork.com 
      or call 1-877-491-3463.
    
    
      Safe Harbor Statement
    
    
      Statements in this release that are not strictly historical are 
      "forward-looking" statements that are made pursuant to the safe harbor 
      provisions of the Private Securities Litigation Reform Act of 1995. 
      These statements are based on management's current expectation or 
      beliefs, and are subject to risks, trends and uncertainties. Actual 
      results, performance or achievements may differ materially from those 
      expressed or implied by the statements herein due to factors that 
      include, but are not limited to, the following: (i) our inability to 
      attract and retain merchants, (ii) our inability to obtain sufficient 
      cash and refinance the repurchase of our convertible subordinated 
      debentures, (iii) our dependence upon our relationships with payment 
      card issuers, transaction processors, presenters and aggregators, 
      (iv) changes to payment card association rules and practices, 
      (v) economic changes, (vi) our susceptibility to restaurant credit risk 
      and the risk that our allowance for losses related to restaurant credit 
      risk in connection with dining credits may prove inadequate, (vii) our 
      dependence on our relationships with airlines and other reward program 
      partners for a significant number of members, (viii) the concentration 
      of a significant amount of our rewards currency in one industry group, 
      the airline industry, (ix) our inability to attract and retain active 
      members, (x) the filing of class action lawsuits against us, 
      (xi) changes in our programs that affect the rate of rewards, (xii) our 
      inability to maintain an adequately-staffed sales force, (xiii) our 
      inability to maintain an appropriate balance between the number of 
      members and the number of participating merchants in each market, 
      (xiv) our minimum purchase obligations and performance requirements, 
      (xv) network interruptions, processing interruptions or processing 
      errors, (xvi) susceptibility to a changing regulatory environment, 
      (xvii) increased operating costs or loss of members due to privacy 
      concerns of our program partners, payment card processors and the 
      public, (xviii) the failure of our security measures, (xix) the loss of 
      key personnel, (xx) increasing competition, and (xxi) a shift toward 
      Marketing Services Program that may cause revenues to decline. A more 
      detailed description of the factors that, among others, should be 
      considered in evaluating our outlook can be found in the company's 
      annual report on Form 10-K for the year ended December 31, 2007, filed 
      with the Securities and Exchange Commission. We undertake no obligation 
      to, and expressly disclaim any such obligation to, update or revise any 
      forward-looking statements to reflect changed assumptions, the 
      occurrence of anticipated or unanticipated events, changes to future 
      results over time or otherwise, except as required by law.