XRAYMEDIA Raises 2005 Sales Projection by 123% to $2.9 Million New Projection Reflects Expected Revenues from "Screenwriter Dig" Joint Venture with Producer Mark Canton

VANCOUVER, British Columbia & LOS ANGELES--(BUSINESS WIRE)--Dec. 22, 2004--XRAYMEDIA, Inc., (OTCBB:XRYM - News), a leader in real-time negotiating technology for the media industry, today raised its earlier sales projections for 2005. The revised projections reflect the anticipated impact of The Screenwriter Dig; the Company's newly announced joint venture with noted Hollywood producer and executive Mark Canton.

The Company now forecasts anticipated sales totaling $2.9 million in 2005, 123 percent above earlier estimates of $1.3 million. The new projection includes $400,000 from advertising services, $900,000 from XRAYMEDIA's media negotiating technology, and $1.6 million from The Screenwriter Dig. Anticipated revenues for the fourth quarter of 2004 remains the same as earlier. Total fourth quarter revenue is expected to be $120,000, with $15,000 from advertising services and $105,000 from online negotiating technology. The Company expects to end 2004 with total revenue of $180,000.

"As our new sales projections indicate, we feel confident that The Screenwriter Dig project is a winner," said XRAYMEDIA's President and CEO Raymond C. Dabney. "By partnering with a highly credible industry veteran, such as Mark Canton, who has held top production posts at both Warner Brothers and Sony Pictures, we plan to leverage our online technology at low cost, with impressive sales results projected from the very start. In the meantime, we expect to continue to grow our online negotiating business, which has already shown sharp growth as media buyers and sellers discover its unique mix of convenience and confidentiality."

The Screenwriter Dig is a worldwide online search for new television series and motion picture ideas. Winners will have their submissions chosen for further development and potential production by Mr. Canton, who, as a studio executive and independent producer, has brought more than 300 pictures to the screen, including such mega-hits as Jerry Maguire, A Few Good Men, As Good as It Gets and the Batman and Lethal Weapon franchises. Revenue is expected to be generated by submission fees ranging from $10 up to $29 per submission, making it competitive with similar Web-based contests, such as Matt Damon's and Ben Affleck's Project Greenlight.

In line with its earlier projections, the Company also expects to reach positive cash flow at some point during 2005, assuming revenue projections are met.

About XRAYMEDIA

XRAYMEDIA, Inc., aims to transform the media industry with a mix of traditional advertising agency services and advanced technology available through the company's Media SuperPortal website. Media SuperPortal is designed to streamline the media buying and selling process, while making all media markets more accessible to everyone seeking to advertise their products and services. Through its Live Media Marketplace v5.1 and XRBarter technologies, the portal gives the general business community and the media industry worldwide the ability to engage in real-time media negotiating and fulfillment in a secure, confidential environment over the Internet. Through its advertising services, the Company helps clients with their advertising needs from concept to completion, providing them user-friendly tools that generate increased exposure and profitability. It is also engaged in media and entertainment-related ventures, such as The Screenwriter Dig with Mark Canton.