iLOOKABOUT Corp. Announces Initial Closing of Private Placement

The initial closing resulted in the receipt by the Company of gross proceeds of $1,155,500 from the sale of 2,888,750 Units. There will be a hold period of four months on all securities issued under this financing. The Company also advises that it is accepting additional subscriptions until July 10, 2009 and will make a determination with respect to whether a second tranche of this private placement will be accepted on or before July 13, 2009. Net proceeds of the Private Placement will be used to pursue growth opportunities which may include the capture of additional streetscape image-data, increased sales and marketing efforts, expansion of capital infrastructure and for general corporate and working capital purposes.

About iLOOKABOUT

iLOOKABOUT is a visual data intelligence company serving commercial enterprise in the real estate, insurance, municipal, utility, assessment and appraisal sectors in North America and Europe. iLOOKABOUT is a pioneer in visual data intelligence with its StreetScape and Virtual Tour products. StreetScape is a visual data intelligence product for the geo-spatial market, providing panoramic, comprehensive, street level perspective visual data, geo-coded with latitude and longitude coordinates for accuracy and supported by patented software processes and proprietary security and storage systems. Headquartered in London, Ontario, Canada, iLOOKABOUT has offices in Toronto, Canada and London, UK. iLOOKABOUT's shares are traded on the TSX Venture Exchange under the symbol ILA.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.