SeaMiles Limited: Shares Under Settlement Agreement Clarification

  SeaMiles Limited (the "Company") (TSX VENTURE: SEE), North America's premier cruise loyalty provider, announced today that it wishes to supplement information contained in the press release dated October 21, 2008 regarding the agreement to issue shares pursuant to a settlement agreement reached with respect to litigation involving SeaMiles, LLC (the "Agreement").

In addition to the issuance of 100,000 common shares in the capital of the Company (the "Shares"), the Company will also be issuing 200,000 Shares to be held in escrow to secure future payments under the Agreement. Provided that such payments are made, 100,000 Shares will be released from escrow and cancelled by the Company on each of the first and second anniversary dates of the initial payment made by the Company.

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.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contacts: SeaMiles Limited Peter Rooney President [phone] Ext. 442 Email: [e-mail] SeaMiles Limited Steven Wise Chairman & CEO [phone] Email: [e-mail] Website: www.seamiles.com