iWeb Technologies Inc Announced it had obtained New Financing of $1,000,000 from the Bank of Montreal (BMO), Oover and Above Funds Previously Announced

The additional amount will go toward purchasing server hardware to provide iWeb’s clients with dedicated server services, one of iWeb’s niche market that is enjoying substantial growth. It may also be used to acquire other computer equipment for the company’s two data centers. As things now stand, these funds will allow for acquisitions beyond the financial year ended September 30, 2007 and through the first quarter of 2008.

“After financing the expansion of our data centers, it was time to fund the purchase of servers to be installed, for the most part, in phase two of the iWeb-CL facility. It’s mainly by leasing out this hardware that the company will be able to maximize returns on its investment,” stated Martin Leclair, iWeb’s Cofounder and Chief Operating Officer.

The additional debt will take the form of a 36-month term credit of $1,000,000, at a rate of prime plus 2.5 %.

About iWeb Group Inc.
Founded in 1996, iWeb offers a full line of advanced web hosting services either through shared hosting, dedicated servers or colocation in its own data centers featuring 25,000 square foot of floor space and the latest technological equipments. iWeb provides services in English, French and Spanish to clients in more than 140 countries.

iWeb Group Inc. is listed on the TSX Venture Exchange under the IWB stock symbol. For more information, visit the Company’s website at http://iWeb8.com/investors/

Contact:
contact@iWeb8.com