SeaMiles Enters Into Definitive Agreement to Sell Remaining Real Estate Assets for $3.7 Million

SeaMiles Limited (the "Company") (TSX VENTURE:SEE), North America's premier
cruise loyalty provider, today announced that it has signed a definitive
agreement to sell its remaining non-core real estate assets for $3.7 million.
The sale is expected to close on June 16, 2008. The transaction will allow the
Company to eliminate its remaining real estate and convertible debt aggregating
$3.6 million and result in savings to the Company upwards of $400,000 per year.


"Due to the strong growth in our cruise based loyalty card program, we felt it
was prudent to sell these non-strategic assets, allowing us to improve our
balance sheet, reduce operating expenses and to exclusively focus on the many
opportunities in our core operations where we believe we can increase
shareholder value," said Peter Rooney, President of SeaMiles.


The properties to be sold consist of the Greene Slate Inn, the Ports development
project and three residential houses. The aggregate purchase price will be
approximately $3.7 million and will be satisfied by the cancellation of $1.5
million in convertible debentures previously issued by the Company, the
assumption by the purchaser of approximately $0.6 million in existing mortgages
and a cash payment by the purchaser to the Company of approximately $1.6
million, which will primarily be used to retire the remaining $1.5 million of
convertible debentures outstanding following the sale.


ABOUT SEAMILES

SeaMiles is North America's premier cruise loyalty provider, committed to
recognizing and rewarding the cruiser through multiple earning opportunities and
best-in-class, maximum award flexibility based on "Any Cruise Line...Any Time".
Additional information can be found at www.seamiles.com.