Customer Acquisition Network Holdings Sells Options Media

Business Wire, June 26, 2008

NEW YORK -- Customer Acquisition Network Holdings, Inc. (OTCBB: CACN) or "CACN" announced today that it has sold Options Acquisition Sub, Inc. ("Options") to a newly formed public company, Options Media Group Holdings, Inc. ("Holdings") for $4 million. Under the terms of the agreement, Customer Acquisition Network Holdings, Inc. will also receive 12.5 million shares of Holdings' common stock.

Mike Mathews, CEO of Customer Acquisition Network Holdings, Inc. stated, "In our continuing effort to create value for our shareholders we took advantage of a unique opportunity to capitalize on the attractive email business we recently acquired and own a significant stake in a separate operating business that we believe will provide further value to our shareholders as a result of the ownership interest retained and the cash purchase price paid to us for Options."

Customer Acquisition Network Holdings, Inc. acquired Options in January, 2008 for $1.5 million, 1 million shares of Customer Acquisition Network Holdings, Inc. common stock, plus a contingent earn-out payment of up to $1 million.

Proceeds of the Options sale, which closed June 23, was used to redeem approximately $2.75 million of CACN 8% senior secured promissory notes, leaving approximately $1.77 million outstanding under the notes.

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.