Immersive Media Announces That Google Has Released GeoImmersive Imagery of Four Major US Cities in Google Maps

Immersive Media Corp. (TSX VENTURE: IMC) ("IMC"), today announced that Google Inc. has released street level imagery of four major US cities in Google Maps. This street level imagery contains IMC's GeoImmersive imagery data, which has been licensed by IMC to Google under the terms of a license agreement (the "Agreement") previously announced by IMC on January 9, 2007. Google made the announcement at O'Reilly's Where 2.0 Conference in San Jose on May 29, 2007.

IMC's GeoImmersive street-level, georeferenced imagery data is 360 degree video with embedded GPS information (collectively, "GeoImmersive Imagery Data") that can be integrated into any mapping application. IMC's GeoImmersive imagery enables users to travel down the street and look in every direction as if they were in the middle of the scene.

Although the financial impact of IMC's relationship with Google is anticipated to be modest, IMC believes that the use of IMC's GeoImmersive Imagery Data within Google Maps validates the use of GeoImmersive Imagery Data for mapping applications. In addition, IMC anticipates that Google's rollout of IMC's street level imagery in Google Maps will create greater awareness of IMC's situational awareness solutions and its new streaming 360 content for the commercial media market. IMC believes that this awareness will enhance its ability to pursue and capitalize on the business opportunities available in these spaces.

Under the Agreement, IMC has agreed to license IMC's GeoImmersive Imagery Data to Google in consideration of the payment of certain fees. The Agreement also provides IMC the opportunity to license updated and new GeoImmersive Imagery Data to Google for additional fees. However, the quantity of IMC's GeoImmersive Imagery Data ultimately licensed to Google is at its election. Therefore, the amount of revenue generated under the Agreement by IMC will be dependent on the amount of GeoImmersive Imagery Data that Google elects to license. IMC licenses its GeoImmersive Imagery Data on a per mile of data basis. The Agreement is for a multi-year term, subject to earlier termination by Google at its discretion.

IMC uses its patented Dodeca 2360® System to create the GeoImmersive imagery and licenses this dataset to Google under the exclusive Agreement. To date, IMC has collected over 40,000 miles of GeoImmersive Imagery Data in the US and Canada. IMC is currently executing its strategy to collect GeoImmersive Imagery Data in additional metropolitan cities in Canada, the US and internationally. IMC's Agreement with Google has contributed to IMC's aggressive expansion of its data collection efforts. As noted in IMC's fiscal 2007 third quarter management's discussion and analysis, IMC's third quarter expenses increased 106% (2006 - $773,544; 2007 - $1,592,071) as compared to the same quarter in 2006. Much of the increase is attributable to IMC's aggressive expansion of its GeoImmersive Imagery Data collection efforts. IMC anticipates that this trend will continue in the current quarter and beyond. IMC believes that it has the financial resources to fund this expansion in the near term.

To date, IMC has received modest revenues under the Agreement and anticipates receiving modest revenues under the Agreement through to the end of the current quarter ending June 30, 2007. As noted in IMC's fiscal 2007 third quarter management's discussion and analysis, IMC's third quarter revenues increased 132% (2006 - $423,232; 2007 - $983,085) as compared to the same quarter in 2006 as a result of GeoImmersive data licensing, much of which is attributable to the licensing of GeoImmersive Imagery Data under the Agreement. IMC expects this trend to continue in the current quarter as additional revenues are generated by the Agreement and other GeoImmersive data licensing. However, the receipt of additional revenue under the Agreement beyond June 30, 2007 is dependent on Google's rollout of additional cities, which will be dependent upon numerous factors beyond IMC's control, including the level of consumer acceptance of street level imagery in mapping applications.

Although IMC believes that the execution of the Agreement and Google's launch of GeoImmersive Imagery Data is a significant milestone in IMC's growth, investors are cautioned that there can be no assurances that IMC's Agreement with Google will result in long term financial benefits for IMC, or that such financial benefits (if any) will be material.

To learn more about GeoImmersive video and explore streaming 360 degree spherical video online, please visit http://demos.immersivemedia.com/ . For more information please visit www.immersivemedia.com .

About Immersive Media Corp.

Immersive Media Corp. ("IMC") is an advanced digital video imaging company. Using our patented image capture technology arranged according to specific geodesic geometry, immersive video captures a complete spherical image; a high-resolution 360 degree view of surroundings that is seamlessly stitched together. IMC's open systems design easily interfaces with industry standard platforms enabling anyone to deploy 360 degree imagery instead of conventional video, Immersive video engages users and enables them to take control and look around. IMC customers include everyone from government defense and security to mapping organizations, digital media entities and gaming companies. IMC's offerings include hardware, software, services, and content licensing of both our immersive and GeoImmersive(TM) imagery.