iWeb Communities: Blog

MONTREAL, QUEBEC – April 8, 2010 – iWeb Group Inc. (TSX-V: IWB), a global provider of Internet hosting services and IT infrastructure, confirms the completion of a new $3 million financing agreement with BMO Bank of Montreal, one of its major financial partners.

iWeb’s Chief Financial Officer, Philip Tousignant, announced that the increased facility will be used to finance iWeb’s pool of servers including the initial 3,000 servers to be provisioned in the Company’s new data center. Once it reaches capacity, iWeb’s fourth Montreal data center will have an estimated 20,000 dedicated servers online.

The $3 million credit facility will bear interest at prime rate plus 2% (4.25% as of today) , payable in monthly instalments over 42 months. The agreement also includes a 0.5% reduction in the interest rate on the outstanding amount of the previous facilities (balance owed of 3.1M$ as of March 31, 2010). Finally, an additional facility for foreign exchange contracts is included in this agreement.

About iWeb Group Inc.:

iWeb is a worldwide provider of Internet hosting services and IT Infrastructure. With the opening of its fourth data center in Montreal, iWeb’s capacity will near 35,000 dedicated servers. Since 2004, the company’s compounded annual growth rate has been above 75%, making it one of Canada’s 100 fastest growing companies according to PROFIT Magazine.

Founded in 1996 in Montreal, iWeb now generates more than 60% of its revenues from abroad; and employs over 180 full-time employees providing Dedicated Server Hosting, Co-location and Web Hosting services to close to 20,000 customers in 145 countries. iWeb’s shares are listed on the TSX Venture Exchange (TSX-V: IWB); for more information please consult: http://investors.iweb.com

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The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

For further information:

Philip Tousignant
Chief Financial Officer
iWeb Group Inc.
(514) 286-4242 ext. 2149
ptousignant@iweb.com

Bernard Dahl
Investor Relations/Media Relations
Presentis
(514) 802-2801
bernard@presentis.ca