iPerceptions - Customer Satisfaction Measurement

Leading Voice of Customer Analytics Provider Announces 30% increase in revenue compared to the third quarter of 2007

MONTREAL--(BUSINESS WIRE)--iPerceptions Inc. (TSX-V:IPE), a leading provider of web-focused Voice of Customer Analytics, today reported their third quarter results for 2008 and announced a 30% increase in revenues for the third quarter of 2008 compared to the same period last year.

Highlights for the third quarter of 2008 and the beginning of the fourth quarter include:

    * The addition of multiple high-profile corporations to its customer portfolio, as well as a number of renewals, pilot continuations and custom studies.
    * The securing of $3,650,000 in funding.
    * The continued growth of 4Q, iPerceptions’ simple and free survey tool.
    * The appointment of Len Emmick as the new VP of Global Sales as well as Bernard Dumais as interim CFO.

“Delivering a better online experience is the number one priority for marketers today. In order to accomplish this goal, marketers are moving beyond click-stream and behavioral data and embracing iPerceptions to tune into the needs and goals of website visitors. Initiatives such as the continued growth of the free 4Q website survey tool have allowed the iPerceptions brand to further penetrate the market and has helped us gain considerable mind share in the web analytics and interactive marketing space,” says Jerry Tarasofsky, CEO and President of iPerceptions. “The timing could not be better – the state of the global economy is forcing companies to listen to what their customers want and need in order to survive.”

Further details of third quarter highlights for 2008:

Business Development: iPerceptions added numerous high-profile corporations to its customer portfolio in the third quarter of 2008, such as Fox, Joost, Rodale Publishing, Texas Instruments, SmartBargains, and SkillSoft. iPerceptions renewed annual contracts with high profile clients such as Dell, Samsung and Intuit Canada. Q3 2008 also saw pilot continuations from Mercedes Benz, Volkswagen and CDW, as well as custom studies developed for LG Canada and Autodesk.

Securing of $3,650,000 in Funding: On November 26, iPerceptions has concluded a private placement financing of convertible debentures valued at $3,650,000 . The Corporation expects to use the net proceeds of the private placement to meet future working capital requirements and implement its commercialization plan.

4Q: iPerceptions’ free and simple survey tool, 4Q, continues to grow exponentially, recently announcing its one millionth survey respondent. Several thousand companies, large and small, have deployed 4Q to understand their website visitors and customers.

Management Updates: iPerceptions announces the addition of Len Emmick as Vice President, Global Sales and Bernard Dumais, Interim CFO.

Len Emmick has been appointed Vice President of Global Sales at iPerceptions. Mr. Emmick joins iPerceptions with 20 years of executive leadership and sales experience at IBM, Infinium Software, and Honeywell, among others. Mr. Emmick, who most recently served as senior vice president of sales at mobile marketing company Air2Web, is immediately responsible for driving continued revenue and customer growth for iPerceptions’.

The Corporation has retained the services of Mr. Bernard Dumais CA to fulfill the role of CFO on an interim basis.

Granting of Stock Options to an Officer: iPerceptions Inc announces the grant of an aggregate of 150,000 common stock options to an officer of the Corporation, under the terms and conditions of the Corporation’s stock option plan. This grant of options is effective November 10, 2008. Each stock option grants to its holder the right to purchase one common share in the share capital of the Corporation, for an exercise price of $0.45, and can be exercised up to November 10, 2013.

iPerceptions delivered the following results for the third quarter of 2008:

Revenue: For the quarter ended September 30, 2008, revenue totaled $1,104,802 compared to $850,670 for the corresponding period in the previous fiscal year, an increase of 30%.

Net loss and Earnings per Share: Net loss and comprehensive loss for the quarter ended September 30, 2008 was $668,641 compared to $469,146 in the same period of 2007. The increase in net loss is mostly attributable to the increase in sales and marketing expenses to acquire new business and research and development activities. The third quarter basic and diluted loss per share for 2008 and 2007 were $0.02 and $0.01 respectively.

Cash position: Total cash and cash equivalents are $288,830 at the end of the third quarter. During the third quarter 2008, the cash used in operating activities amounted to $715,825.

For additional information, consult our Management Discussion and Analysis filed on SEDAR at www.sedar.com.

About iPerceptions:
iPerceptions is one of North America's leading web-focused Voice of Customer analytics providers. Its webValidator Continuous Listening solution and Proprietary iPerceptions Satisfaction Index (iPSI), turn thousands of data points into easy-to-understand strategic and tactical decision support for website marketers. iPerceptions' clients include such well known brands as InterContinental Hotels, General Motors, Dell Computers, Hyundai, LG Electronics, Choice Hotels International, BMW and Monster Worldwide. iPerceptions has offices in New York, Toronto, Montreal and London, UK.