SeaMiles Announces 2008 Second Quarter Results

SeaMiles Limited (the "Company") (TSX VENTURE:SEE), North America's premier
cruise loyalty provider, announced today financial results for its second
quarter ended June 30, 2008. The Company's revenue in U.S. dollars, its
principal source, was $2,694,574 U.S., a 26% increase from $2,142,363 U.S. last
year. The increase in revenue is primarily a result of the implementation of
management's strategic and operational initiatives to grow its cruise loyalty
program. The Company reported revenue of $2,721,520 Canadian, an increase of 16%
compared to $2,352,528 Canadian for the same period in 2007. The reported
revenue in Canadian dollars in 2008 was impacted by a weakening U.S. dollar. The
Company reported net income for the 2008 second quarter of $409,217 or $0.04 per
share in 2008 versus a net loss of $(2,405,866) or $(0.21) in 2007.


For the quarter ended June 30, 2008, the Company reported income from continuing
operations of $102,495 or $0.01 per share, compared to income of $70,783 or
$0.01 last year. The 2008 second quarter results include non-cash, stock-based
compensation expense of $284,606 related to the issuance of stock options to
directors, officers, employees and consultants. SeaMiles also recognized income
of $246,114 related to the forgiveness of debt.


The Company's results include income from discontinued operations of $306,722
related to the disposal of property held for sale versus a loss of $(2,476,649)
in 2007. The 2007 loss was primarily due to the Company recording a write down
in the value of its property held for sale of $2,440,407.


For the six months ended June 30, 2008, the Company's revenue in U.S. dollars
was $5,257,030 U.S. as compared to $4,099,920 U.S. last year, a 28% increase.
The Company's reported revenue in 2008 was $5,295,763 Canadian, an increase of
14% compared to $4,637,193 Canadian last year. SeaMiles had net income of
$305,020 or $0.03 per share compared to a net loss of $(2,399,335) or $(0.21)
per share the previous year.


"The positive results recorded for the second quarter are the direct result of
the focus we are placing on our cruise loyalty programs now that we have
divested ourselves of all non-cruise related businesses. There is continued
growth in the cruise industry despite the economy, but consumers now more than
ever are looking for true value when making purchases. With SeaMiles offering
cruisers the most rewards and flexibility of any cruise loyalty program in the
market place, consumers are seeing the true value in what we have to offer",
said Peter Rooney, President.


ABOUT SEAMILES

SeaMiles is North America's premier cruise loyalty provider, committed to
recognizing and rewarding the cruiser through multiple earning opportunities and
best-in-class, maximum award flexibility based on "Any Cruise Line...Any Time".
Additional information can be found at www.seamiles.com.

Intellectual Capital Group Ltd. (TSXV:SEE)
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