SeaMiles Private Placement

SeaMiles Limited ("SeaMiles" or the "Company") (TSX VENTURE:SEE), North
America's premier cruise loyalty provider, announced today that it has entered
into an agreement to raise $1,000,000 by way of a private placement of
convertible debt. The convertible debt will have a three year term and bear
interest at 10% per annum. The debt is convertible, in whole or in part, into
common shares of the Company at a conversion price of $0.50 per share. In
connection with the financing, the Company will also issue 1,000,000 common
share purchase warrants to the holder of the convertible debt to purchase common
shares of the Company at an exercise price of $0.10 per share at any time during
the next three years. The lender is a related party of the Company. These
transactions are subject to the approval of the TSX Venture Exchange. 


The proceeds of the financing will be used primarily to pursue opportunities in
the development and implementation of solutions in support of venture
philanthropy, as well as to repay certain outstanding liabilities of the
Company. Coupled with net proceeds of approximately $462,000 U.S. the Company
received from the recently settled litigation from Barclays Bank Delaware, the
Company is positioned to pursue its new opportunities. 


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. 


This press release contains "forward looking information" within the meaning of
applicable Canadian securities legislation. Forward looking information
includes, but is not limited to, the potential closing date of the private
placement and the proposed use of proceeds. Generally, forward looking
information can be identified by the use of forward-looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might" or "will be taken",
"occur" or "be achieved". Forward-looking information is subject to known and
unknown risks, uncertainties and other factors that may cause the actual
results, level of activity, performance or achievements of the Company to be
materially different from those expressed or implied by such forward-looking
information, including but not limited to: general business, economic,
competitive and regulatory risks. Although the Company has attempted to identify
important factors that could cause actual results to differ materially from
those contained in forward-looking information, there may be other factors that
cause results not to be as anticipated, estimated or intended. There can be no
assurance that such information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward looking
information. The Company does not undertake to update any forward-looking
information, except in accordance with applicable securities laws.