Customer Acquisition Network Appoints David M. Garrity, CFA to its Board of Directors

Business Wire, June 16, 2008

NEW YORK -- Customer Acquisition Network Holdings, Inc. (OTCBB: CACN) announced today that it has appointed David M. Garrity, CFA to its Board of Directors. The appointment increases the number of independent Board members to 2. Mr. Garrity, currently Managing Director & Director of Research at boutique investment bank Dinosaur Securities LLC, has twenty years' experience both covering the technology and industrial sectors as well as building research teams to assist clients in achieving their investment goals. At Dinosaur, Mr. Garrity advises U.S. institutional clients as well as those covered by the firm's offices in the U.K., Switzerland, Brazil and Turkey.

Because of his analytical insights, Mr. Garrity frequently appears on CNBC, Bloomberg Television and the Business News Network and is quoted in The Wall Street Journal, The Financial Times and Investor's Business Daily. As a result of his superior investment recommendation performance, Mr. Garrity has also been included in the Wall Street Journal's All-Star Analyst Survey.

"I am pleased to welcome David to our Board of Directors at such an opportune time," said Michael Mathews, Customer Acquisition Networks' Chief Executive Officer. "His experience and ability to evaluate potential partners and acquisition candidates, as well as his extensive knowledge of the capital markets should prove invaluable as we enter our next phase of growth."

Prior to joining Dinosaur in 2006, Mr. Garrity held positions as Managing Director & Director of Research at Investec, Managing Director at Caris & Company and Managing Director at American Technology Research, where he was a founding member of the research boutique. In the technology sector, Mr. Garrity has researched companies in software, internet & IT services, digital media and cellphone hardware & services. Previously, he led a global sector team at Dresdner Kleinwort Wasserstein where he guided seven analysts based in the U.S., Europe and Asia.

"In a short time Customer Acquisition Network through interCLICK has built a rapidly growing advertising network based on technology-driven customer value," added Mr. Garrity. "I look forward to working with the Company to grow value for shareholders as it enters its next stage of development."

Mr. Garrity received a Master's of Management from Northwestern University's Kellogg Graduate School of Management and a Bachelor of Arts from the College of the Holy Cross.

About interCLICK

interCLICK, a wholly-owned subsidiary of Customer Acquisition Network Holdings, Inc., operates the interCLICK Network, a highly targeted contextual marketing network designed to balance the interests of publishers, advertisers and users. The interCLICK Network combines advanced contextual awareness technology with a large base of top tier publisher sites to create a highly effective advertising platform. interCLICK's unique model delivers higher response rates than traditional ad networks, helping advertisers increase brand awareness, catalyze customer action and improve ROI on their advertising spend. The objective is to assist advertisers so that the consumer appreciates the targeted content, the advertiser obtains a significantly improved return on investment, and the publisher shows higher quality and better paying ads. For more information about the interCLICK Network, visit http://www.interclick.com.

About Customer Acquisition Network Holdings, Inc.

Customer Acquisition Network Holdings, Inc. was established to build an integrated, multi-channel network that provides advertisers the ability to drive high-volume, high-quality customer leads and acquisitions, and refocus ad dollars quickly based upon ROI. For more information about Customer Acquisition Network, visit www.customeracquisitionnetwork.com.

Forward-Looking Statements

Except for statements of historical fact, the matters discussed in this press release are forward looking and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond the company's control that may cause actual results to differ materially from stated expectations. These risk factors include, among others, limited operating history, difficulty in developing, exploiting and protecting proprietary technologies, intense competition and additional risks factors as discussed in the Form 10KSB dated April 15, 2008 filed by the company with the Securities and Exchange Commission, which are available on its website at http://www.sec.gov.