Contact Image Corporation Announces a Shares for Debt Settlement

MONTREAL, April 15 /CNW Telbec/ - Contact Image Corporation (the
"Corporation" or "Contact Image") (TSX Venture Exchange: CI) announces that it
has concluded a shares for debt settlement with its legal advisors, Boivin
O'Neil, s.e.n.c. pursuant to which it will proceed with the issuance of
125,000 common shares at a price of $0.24 per share in consideration for the
settlement of a $30,000 debt. The Corporation intends to complete this
transaction as soon as it has obtained the required approvals from regulatory
authorities. The securities issued pursuant to this debt settlement are
subject to a restriction and cannot be alienated for a four (4) month period
following their issuance.
Contact Image and its subsidiaries are providers of digital imaging
products and services based in Montreal. Current products and services
include, digital wide-format printing and finishing services, digital
processing and imaging services and traditional photographic processing and
imaging services. Contact Image and its subsidiaries service target market
segments that focus on retail chain stores, businesses, institutions,
photography professionals, imaging professionals and, finally, higher-end
photo amateurs. Contact Image and its subsidiaries' clients typically seek
higher quality prints, promptness of service and a large offering of imaging
services.

The TSX Venture Exchange has neither approved nor accepts any
responsibility with respect to the veracity or exactitude of this press
release.
%SEDAR: 00019826EF