June 29, 2007

OceanLake executes license agreement for “meemo” for Taiwan

OceanLake expands meemo availability into Asia

Toronto, Canada and Singapore – June 29, 2007. OceanLake Commerce Inc. (OLI-TSX-V, OLIKF.PK) is pleased to announce that it has executed a formal licensing agreement on June 28, 2007, (“Agreement”) granting Jabios H.K Limited, the license to offer OceanLake’s meemo service direct to consumers in Taiwan. Jabios will undertake the marketing and promotion of the service, which will be hosted and operated by OceanLake.

meemo is an affordable, real-time, push e-mail service. It allows users with any internet-enabled mobile phone or PDA to send and receive e-mail from their existing e-mail accounts at a fraction of the cost of other solutions in the market place. The service was recently launched by OceanLake in the United States and will be launched in Canada in early July.

"In parallel with our direct to consumer launch in the US and Canada, we look forward to working with Jabios to drive even further reach for this service in Asia.", stated William Car, President and CEO of OceanLake. "meemo allows users to send and receive e-mail as easily as a text message. Mutiple email accounts can be configured with the service to ensure that whether at work or play, you stay in touch."

Under the terms of the Agreement, OceanLake will receive a license fee as well as a royalty on the gross revenue generated through the marketing and use of OceanLake’s Mobile Mail platform and license for the brand"“meemo". OceanLake will also be providing management and technical support services to Jabios for a predetermined fee. Jabios is on-track to begin offering meemo directly to mobile phone users, regardless of the carrier they use in Taiwan in the third quarter of 2007.

"We are excited to offer this service in partnership with OceanLake to bring affordable, push mobile e-mail to everyone. This geography represents approximately 23 million mobile subscribers, most of whom today are not receiving e-mail on their phone", said Furuya Yoshio, Chairman of Jabios. "We see tremendous opportunity for this service in Taiwan where mobile penetration is over 100%. There is no new hardware to buy, no expensive long-term contracts and no configuration of your phone required. This really is mobile e-mail for everyone."

This announcement continues OceanLake’s growth strategy to take its platforms and services global through strategic partnerships. By leveraging the relationships of partners in various regions, OceanLake is accelerating its ability to move into new markets quickly.

About Jabios H.K. Limited
Jabios H.K. Limited is a private investment company based in Hong Kong founded by Furuya Yoshio, Chairman of Jabios. Jabios invests in global technology companies to help them enter new markets around the world.

About OceanLake Commerce
OceanLake Commerce (TSX:OLI) was founded in 1999 as a developer of intelligent mobile technology to deliver richer and more engaging user experiences for the mobile consumer. The desire to bring the engaging world of the Internet to the mobile device has led OceanLake Commerce to develop a number of world-class products and services.

Its mobile service delivery platform, imercion, enables the creation of retail storefronts optimized for the mobile device. imercion includes OceanLake MobileGateway, a product that delivers mobile optimized browsing experiences transparently to the user enabling them to visit any Internet site through their mobile phone and have a far superior experience. Recently OceanLake has also developed a real-time mobile e-mail product, OceanLake MobileMail, that enables every consumer with a mobile phone to cost effectively use email on their mobile device. OceanLake platforms support direct to consumer offerings as well as the advanced mobile commerce applications and content stores offered by mobile operators to their own subscribers.

OceanLake Commerce is a publicly traded company on the Toronto Venture Exchange under the symbol OLI. It currently has offices in Singapore and Toronto, Canada. For more information, please visit www.oceanlake.com.

This document may contain forward-looking statements, relating to OceanLake's operations or to the environment in which it operates, which are based on OceanLake‘s  operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or are beyond OceanLake‘s control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. OceanLake disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For more information about OceanLake, please visit www.OceanLake.com.

For media enquiries please contact:
Leo Tignini
Horn Group
ltignini@horngroup.com
+1(646)688-0590

For investor enquiries please contact:
Will Car
CEO, OceanLake Commerce
wcar@oceanlake.com
+1(416)568-5267