SeaMiles Unable to File 2009 Audited Financials

  SeaMiles Limited ("SeaMiles" or the "Company") (TSX VENTURE: SEE), North America's premier cruise loyalty provider, announced today that it has determined that it will not be able to file its audited annual financial statements for the financial year ended December 31, 2009, related management's discussion and analysis and CEO and CFO certificates (collectively, the "Financial Statements") by the filing deadline of April 30, 2010 as prescribed by National Instrument 51-102 - Continuous Disclosure Obligations.

The Company will be unable to file the Financial Statements by the prescribed deadline due to ongoing litigation with Carnival Cruise Lines and Barclays Bank Delaware (the "Litigation") related to the termination of a co-branded credit card agreement as previously disclosed in the Company's press release dated July 20, 2009. The parties have been engaged in negotiations in an effort to achieve consensual resolution to the Litigation. The resolution of the Litigation will have a material impact on the Company's financial results and prospects, which will vary depending upon the outcome of the Litigation.

SeaMiles is unable to state at this time when it expects to file the Financial Statements. However, the Company will provide updates as warranted should anything change with respect to the status of the Litigation and the subsequent timing for the filing of the Financial Statements.

It is anticipated that the applicable regulatory authorities will issue a cease trade order against SeaMiles for its failure to file the Financial Statements within the prescribed time period.

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, statements with respect to the terms of the proposed litigation settlement, the proposed filing of financial statements, and potential regulatory actions. 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.

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.

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