MONTREAL, Sept. 18 /CNW Telbec/ - Contact Image Corporation (the "Corporation" or "Contact Image") (TSX Venture Exchange: CI) announces that a special resolution providing for the consolidation of its currently issued and outstanding common shares on the basis of one new common share for each existing ten common shares has been approved by its shareholders at the Annual and Special Meeting of shareholders held today. Based on the 16,197,606 common shares currently issued and outstanding, after the proposed consolidation, Contact Image will have approximately 1,619,761 common shares issued and outstanding. Any fractional shares resulting from this consolidation will be rounded-down to the nearest whole share. The Corporation considers that without a share consolidation, it may be more difficult for the Corporation to effect future financings. It is expected that the proposed share consolidation will be completed as soon as the Corporation obtains all the required regulatory approvals. Contact Image will not change its name following the proposed share consolidation. The share consolidation is subject to the TSX Venture Exchange approval. Trading on a consolidated basis is expected to commence following receipt of the required approvals and mailing of Letters of Transmittal to registered shareholders. About Contact Image Corporation 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.