Michael Gerrity, Chairman of MultiChannel Ventures, commented, "Since most people prefer to buy and sell locally, we decided to build a business model and national online ad network with that focus in mind. ClassifiedChannel.com will allow local advertisers to select from two types of local ad insertion services: free and paid. With the efficiencies of the web, it's all about reducing their customer acquisition costs."

With the massive migration of traditional U.S. ad spending going to the web, online advertising is expected to grow from $11B in 2005 to approximately $19B by 2009 according to PricewaterhouseCoopers' 2005 Global Entertainment and Media Outlook Report. Because of such, ClassifiedChannel.com is perfectly positioned to ride this growing tidal wave of advertising transition.

About MultiChannel Ventures

MultiChannel Ventures is a developer, owner and operator of a broad range of video programming, broadband distribution, interactive, subscription, paid search, advertising and transaction-based Internet businesses. MultiChannel Ventures primarily develops or acquires early-stage Internet assets through which they can create and realize significant shareholder value over a five to seven year horizon.