Customer Acquisition Network Holdings Redeems $2.75 Million of Notes, Improving Capital Structure

Business Wire, June 26, 2008

NEW YORK -- Customer Acquisition Network Holdings, Inc. (OTCBB: CACN) announced today that it has redeemed approximately $2.75 million in 8% senior secured promissory notes (the "Notes"), leaving approximately $1.77 million outstanding under the Notes. The redemption, which came from the proceeds received from the sale of approximately 69% of the Company's subsidiary Options Acquisition Sub, Inc., will reduce the Company's interest expense by approximately $150,000 on an annual basis, based upon the revised interest rate in effect.

"Paying down 61% of our outstanding debt strengthens our capital structure and reduces interest expense," said Michael Mathews, Customer Acquisition Networks' Chief Executive Officer. "As we enter our next phase of growth, these steps enhance our flexibility both to invest in our business and to enter into strategic transactions."

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.