TORONTO, Sept. 28 /CNW/ - iseemedia Inc. (TSX-V: IEE), a leading provider of rich content adaptation and delivery solutions for mobile applications today provided a business update on its RealBiz360 subsidiary as it reviews strategic alternatives for the profitable and growing unit. RealBiz360 is a leading provider of immersive imaging technology and solutions that enable fast and efficient high-resolution imaging, panoramic viewing, and image interaction to make real estate properties 'come alive' on the web. The subsidiary has focused its efforts on the US real estate industry where on any typical day, more than two million Americans take a virtual tour, and global digital camera OEM licensing where it has established a leadership position with several world renowned brands.

Market for Virtual Tours in Real Estate Industry is Growing Rapidly

According to a 2007 National Association of Realtors (NAR) survey of US home buyers and sellers, more than eight out of 10 buyers used the Internet to look for a home, and 90 percent of those people reported that virtual tours were useful in their search. A 2008 NAR survey reported that twice as many consumers found the Internet more useful than an open house.

The recent US real estate collapse has created an increased demand for online real estate marketing solutions that help sellers unload financially distressed properties by allowing buyers to take virtual tours prior to visiting a site in person. The sheer volume of properties available for sale and the length of time on market have made it an imperative to use online strategies for effective selling. RealBiz360 provides the industry's only high definition virtual tour solution that provides hands-on viewing experience for consumers and is the first company to automatically create video from virtual tours and slideshows for distribution via YouTube. More than 38,000 YouTube real estate tours have been taken since the service went live three months ago.

RealBiz360 Business Model Focused on Recurring Revenue Strategy

RealBiz360 is executing a three-pronged strategy to grow profitable and recurring revenues:

1. The RealBiz360 business model is focused on achieving broad

distribution of its immersive imaging solution through licensing

arrangements with key leading real estate organizations and their

franchisors which allow their agents and brokers to access more

advanced immersive virtual tour services for a nominal fee. All

imaging and other online marketing tools are available as a 'pay as

you go' or monthly subscription service.

2.