Company

MONTREAL, July 20 /CNW Telbec/ - Kangaroo Media Inc. (TSX Venture: KTV) announces the execution of a proposed transaction with the Caisse de Dépôt et Placement du Québec with respect to a private placement of a minimum of
$3,000,000 and a maximum of $4,000,000 consisting of the issue of common shares and warrants to Kangaroo. In addition, concurrently with this private placement, Kangaroo will be entitled to effect another private placement of a
maximum of 2 million dollars to existing shareholders of Kangaroo. Kangaroo would apply the proceeds of the proposed private placement to accelerate the acquisition of exclusive on-site broadcast rights with several undisclosed sport properties, a key component of its business development strategy and revenue model, and to working capital.

The proposed private placement will be subject to a number of conditions, including the approval of the TSX VentureExchange and the execution of a subscription agreement. The particular terms and conditions of this proposed private placement will be disclosed at a later date.

About Kangaroo Media

The company's unique handheld spectator device ( Kangaroo.TV ) allows fans at live events to see, hear and understand all of the action, all of the time. Since 2003 Kangaroo.TV has been successfully deployed in motorsports at selected Champ Car races and tested at seven NASCAR races during 2004. Kangaroo Media ( www.kangaroo.tv ) is headquartered in Montreal, Canada and listed on the Toronto TSX Venture Exchange as KTV ( www.tsx.com ) .

(The TSX Venture Exchange has not reviewed and does not accept any responsibility for the adequacy or accuracy of this release.)

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