Company

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES

MONTREAL, March 22 /CNW Telbec/ - Kangaroo Media Inc. (the "Corporation") is pleased to announce that it has completed the previously-announced "bought deal" private placement of 17,393,000 common shares of the Corporation (the "Shares") at a price of $1.15 per Share for gross proceeds of $20,001,950. The private placement was increased from $17,000,450 to $20,001,950 following the exercise of the Underwriters Option to acquire an additional 2,610,000 common shares.

The private placement was lead by Desjardins Securities Inc. and Sprott Securities Inc. The Shares are subject to a hold period expiring on July 22, 2006.

The net proceeds of the offering will be used to fund the capital expenditures, to acquire additional licensing rights of sporting series and for general working capital purposes. As a result of the private placement, there are 102,113,163 common shares of the Corporation issued and outstanding.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.

About Kangaroo Media Inc.
Kangaroo.TV (www.kangaroo.tv) brings fans closer to the action, empowering them to interact with live and unique multimedia content. Kangaroo.TV is a wholly-owned subsidiary of Kangaroo Media, headquartered near Montreal, Canada, and listed on the TSX Venture Exchange (www.tsx.com) as KTV.

This news release contains forward-looking information. These statements relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management of Kangaroo Media. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. These forward-looking statements are made as of the date hereof and Kangaroo Media does not assume any obligation to update or revise them to reflect new events or circumstances.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
  
For further information: Kangaroo.TV: Normand Chartrand, Chief Financial Officer, (514) 990-0807 ext. 103 or nchartrand@kangaroo.tv ; Investor Relations: Sylvain Archambault, (866) 703-4887 or
s.archambault@evolutiongrp.com