iPerceptions - Customer Satisfaction Measurement

Leading Voice of Customer Analytics Provider Announces 47% increase compared to first quarter last year

Montreal, QC - May 14, 2008 ––

iPerceptions Inc. (TSX.V:IPE), a leading provider of web-focused Voice of Customer Analytics, today reported their first quarter results for 2008 and announced a 47% increase in revenues for the first quarter 2008 compared to the same period last year.

Business highlights for the Quarter:

•    iPerceptions expanded its user-base significantly in the first quarter of 2008 with the launch of a free survey tool called 4Q. 4Q allows website owners and operators of all sizes to quickly and easily understand the reasons visitors are coming to their website and whether or not they are able to complete their tasks. By being co-marketed by respected analytics expert Avinash Kaushik (author of “Web Analytics: An Hour a Day” and well known web analytics blog “Occam’s Razor), millions of small to medium business owners will now have a no-barrier solution to entry in beginning to understand website optimization and voice of customer analysis. 4Q is a platform for iPerceptions to generate a great deal of brand awareness and mind share in the analytics market, which will ultimately turn into a strong conversion funnel for iPerceptions’ enterprise solution, the webValidator.

•    Q1 2008 also saw the completion of iPerceptions’ acquisition of the Repindex Technology, which analyzes the open-ended user commentary provided by the webValidator and outputs descriptions and measurements of the main concepts and key takeaways that this open-ended text provides for our clients, adding to the value of the webValidator deliverables.

•    Other Q1 2008 business development highlights include the opening of a London, UK office, and the addition of high-profile clients to its customer portfolio including Canadian Tire, Monster Worldwide, Constellation Energy and Century 21. Along with a contract extension of a major automotive client valued at over $320,000, iPerceptions also renewed business with such clients as Choice Hotels, Hyundai, Yamaha Land and Sea, Kraft in this past quarter.

iPerceptions delivered the following results for the first fiscal quarter of 2008:

Revenue: For the quarter ended March 31, 2008, revenue totaled $947,230 compared to $645,949 for the corresponding period in the previous fiscal year, an increase of 47%.
 
Net loss and Earnings per Share: Net loss and comprehensive loss for the quarter ended March 31, 2008 was $530,059 compared to $392,198 in the same period of 2007.  The increase in net loss is mostly attributable to the increase in sales and marketing to acquire new business and research and development activities.  The first quarter basic and diluted loss per share for 2008 and 2007 were $0.01 and $0.02 respectively.
Cash position: Total cash and cash equivalents are $1,283,629 at the end of the first quarter. During the first quarter 2008, the cash used in operating activities amounted to $749,398.

“With the launch of 4Q, the official opening of our London office, and all the other activity that has taken place in the first quarter of 2008, iPerceptions has been extremely busy spreading the Voice of the Customer,” says Jerry Tarasofsky, CEO and President of iPerceptions. “We are providing leading companies with crucial customer-based business intelligence. More and more leading companies are realizing how essential it is to tune in to the Voice of the Customer in order to remain a viable business in this ever-changing economic landscape.”

For additional information, consult our Management Discussion and Analysis filed on SEDAR at www.sedar.com.

About iPerceptions:
iPerceptions is one of North America's leading web-focused Voice of Customer analytics providers. Its webValidator Continuous Listening solution and Proprietary iPerceptions Satisfaction Index (iPSI), turn thousands of data points into easy-to-understand strategic and tactical decision support for website marketers. iPerceptions' clients include such well known brands as InterContinental Hotels, General Motors, Dell Computers, Hyundai, LG Electronics, Toshiba, Choice Hotels International, BMW and Monster Worldwide. iPerceptions has offices in New York, Toronto, Montreal and London, UK.