Intertainment Media Inc. ("Intertainment Media" or "Company") (TSX
VENTURE:INT)(OTCQX:ITMTF)(FRANKFURT:I4T) is pleased to provide a corporate
update to its shareholders. The key components of the update cover internal
programs, new business initiatives, portfolio investment companies, capital,
Annual General and Special Meeting and investment / divestiture programs.


Over the past 14 months, management with guidance from its Board of Directors
has spent a considerable amount of its time and energies devoted to reducing
expenditures, moving from investment to execution, building key programs, like
Yappn and Ortsbo's Customer Care initiatives and divesting of assets, including
itiBiti, and Ad Taffy, Poynt and Tunezy and most recently announcing the
proposed sale of Magnum Fine Commercial Printing Limited for an aggregate CDN
$1.5 Million. The sales of itiBiti, Ad Taffy, Poynt and Magnum will continue to
provide Intertainment with cash flow from payments of sale notes. With the
divestitures completed and in the case of Magnum, underway and continuous
expense review, the focus is concentrated on developing business programs for
the Company's assets and investing in the creation and support of new
initiatives.


Internal Programs and New Business Initiatives

The board and management have had ongoing discussions on how to best provide
continued support and develop resources for Ortsbo as there is a considerable
amount of opportunities within its business sector. The Company continues to
evaluate internal and external opportunities for Ortsbo Inc. (www.ortsbo.com)
and Mr. Anthony R. Pearlman, President and COO of Intertainment Media, upon his
return from managing the sale of the Poynt technology and integration to the
purchaser, is now focusing his primary energies on growing Ortsbo's Canadian and
US operations and revenue generation. Mr. Pearlman has extensive experience in
the Telecom and Business Processing Outsourcer (BPO) space, having previously
held the position of President at Enghouse Systems in Toronto. Mr. Pearlman's
mandate is to expand the key offerings of Ortsbo within the global Customer Care
arena and build the core revenue and to continue to pursue stand alone
strategies for the business unit. Mr. Pearlman will also continue to hold his
positions at Intertainment Media Inc.


Intertainment is expected to continue to expand its current incubation
activities throughout fiscal and calendar 2014 and has been reviewing a number
of new activities in the US, Canada and overseas. Given the divestiture of
certain assets and the continued reduction in ongoing expenses, the Company has
been evaluating a number of new technologies and social engagement programs.
These include opportunities in the areas of eCommerce, Social Media, 3D
Technologies, Online Entertainment, Data Analytics, Advertising and Branding and
Language Services. The focus for the Company is to find, support through
investment, internal development and acquisition and ultimately create ongoing
revenue and / or exit value for these enterprises, which are next generation
programs showcasing leading edge technology and social solutions that have
significant opportunities to scale revenue and value. As an established leader
in this area, having sold 4 properties at a profitable level in 2013 and in the
process of a further portfolio exit and valuation exercise on others, the
Company has proven experience in this sector.


Portfolio Investment Companies

Intertainment Media has a number of key Portfolio investments in technology,
social media, online advertising and graphic services. 


Yappn Corp. (OTCQB:YPPN) (www.yappn.com) is a US public company and a major
asset opportunity for Intertainment Media focused through its technology
programs and language services platform to enable people and brands the ability,
through social, eCommerce and communications programs to communicate without a
language barrier. Mr. David Lucatch, CEO of Intertainment created the premise
for Yappn in late 2012 and has spearheaded the development and its management as
CEO. Yappn's business and technology programs are developing at a rapid pace
with recent partnerships and Mr. Lucatch has spent a considerable amount of his
time and energy engaging in Yappn business advancement. The Board of Directors
of both Intertainment Media and Yappn Corp. believe that this process is
paramount to the success of the program and to the value of the asset. Mr.
Lucatch currently remains CEO of Intertainment Media and is working with the
Board and management to evaluate all activities at Intertainment Media as
Yappn's business continues to develop. Intertainment currently controls 70
Million shares in Yappn, with direct ownership of 42 million shares. These
shares become free trading, and a potential long term source of income, after
March 28, 2014.


Cap That(TM) (www.capthat.com), an Intertainment Media non-controlling minority
interest portfolio investment which has patent pending photo and video capture
technology, continues to create a buzz in the marketplace by introducing its
technology into the entertainment, music, sports, gaming and user generated
sectors. Recently, Cap That(TM) entered into a master licensing agreement with
Disney Music Group which has paved the way for recent launches of Cap That(TM)
powered sites for notable artists such as Demi Lovato (www.capdemi.com), and
Lucy Hale (www.caplucy.com) who currently has the #1 country song on iTunes. In
the upcoming weeks, Cap That(TM) will also be launching a Cap That(TM) powered
site for Ubisoft's Assassin Creed video gaming property. Cap That(TM) will
continue to introduce artist websites featuring its technology and expects to be
announcing more strategic and content related partnerships in the near future. 


Lexifone (www.lexifone.com), which Intertainment Media owns a non-controlling
minority interest, recently launched Lexifone 2 which offers natural and
real-time translation for several major languages and dialects, including 3
versions of English (Australian, U.K. and U.S.) French (Canadian and European),
German, Hebrew, Italian, Mandarin (Chinese and Taiwanese), Portuguese (Brazilian
and European), Russian and Spanish (European and Mexican). The new version of
Lexifone processes voice as it hits the airwaves and doesn't require speakers to
change their voice patterns or to stop to press buttons along the way and is
based on patented technology that leverages computation linguistics / linguistic
optimization. Lexifone is working with government agencies, hospitality
organizations and communications companies increasing its sales channels.
Intertainment Media is working with Lexifone to explore commercial services that
enable voice recognition and translation for entertainment and social
communications through Yappn and customer care programs through Ortsbo. 


Itibiti Ventures (www.itibiti.com), to which Intertainment sold its full
ownership stake in 2013, retaining up to 40% for $3 Million plus a liquidity
event feature, manages and operates core telephony technology that brings brands
and consumers together. Itibiti continues to accelerate its business, growing
revenues significantly this past year. Itibiti is now creating new channels of
content and brand opportunities and is expected to continue to grow its business
in 2014, creating potential ongoing cash flow and note repayment opportunities
for Intertainment. 


theAudience, (www.theAudience.com) to which Intertainment Media owns a
non-controlling minority interest portfolio investment, continues to grow
significantly as it manages the social presence of hundreds of celebrities
reaching about a billion people each month. Intertainment has agreements to
develop managed language services initiatives with its portfolio companies such
as Yappn and theAudience for their clients. Program initiatives are currently
underway.


Intertainment will provide additional updates to its continued investments as
information becomes available.


Capital Investment and Annual General Meeting

Intertainment Media has developed a number of channels for ongoing
capitalization for its business and continues to engage discussion in the
development of a long term, minimally dilutive investment program both with
Investment banks and asset managers and debt holders. The Company believes that
this program, coupled with its ongoing activities and potential divisional
success will provide the Company with strong long term capital opportunities
which will foster and help to increase its incubation activities. The Company
remains confident in its long term capital strategy and investment program and
its ability to continue to execute its business operations.


The Company announced that its Annual General and Special Meeting of
Shareholders will be held on February 28, 2014 at 9:30 am Eastern at the
Sheraton Parkway Hotel and Conference Centre in Richmond Hill, ON.


Learn more at www.intertainmentmedia.com 

About Intertainment - www.intertainmentmedia.com

Intertainment is one of Canada's leading technology incubators and is focused on
developing, nurturing and investing in both North American and global
technologies and companies that provide technology solutions for brands and
consumers alike. Intertainment also owns and operates a number of key properties
and has investments in leading edge technologies and social media platforms,
including Magnum, Ortsbo, CapThat, theAudience, Lexifone, Shiny Ads and Yappn
Corp (www.yappn.com). For more information on Intertainment and its properties,
please visit www.intertainmentmedia.com 


Intertainment is headquartered in the Toronto, Canada region, with offices in
New York, Los Angeles and San Mateo, CA and is listed on the TSX Venture
Exchange under the symbol "INT" (TSX VENTURE:INT) and in the US on the OTCQX
Market under the symbol "ITMTF". Intertainment is also traded in Europe on the
Open Market (Regulated Unofficial Market) Frankfurt Exchange under the symbol
"I4T".


Forward Looking Information

This news release contains certain "forward-looking information" within the
meaning of such statements under applicable securities law, including statements
relating to the expected use of proceeds of the Offering.  


Forward-looking information is frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate", "may",
"will", "potential", "proposed" and other similar words, or statements that
certain events or conditions "may" or "will" occur. These statements are only
predictions. Forward-looking information is based on the opinions and estimates
of management at the date the statements are made, and are subject to a variety
of risks and uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the forward-looking
statements. Actual timelines associated may vary from those anticipated in this
news release and such variations may be material. Actual results could differ
materially because of factors discussed in the management discussion and
analysis section of our interim and most recent annual financial statements or
other reports and filings with the TSX Venture Exchange and applicable Canadian
securities regulators. The Company undertakes no obligation to update
forward-looking statements if circumstances or management's estimates or
opinions should change, unless required by law. The reader is cautioned not to
place undue reliance on this forward-looking information.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Intertainment Media Inc.
David Lucatch
CEO
info@intertainmentmedia.com
www.intertainmentmedia.com