Mamma.com Inc.: Status Update-Continuing Delay in Filing of 2004 Audit

    News Editors

    MONTREAL--(BUSINESS WIRE)--April 14, 2005--Further to its press release of March 31, 2005, Mamma.com Inc. (the "Company") (NASDAQ:MAMA) today provided a status update pursuant to the requirements of the Ontario Securities Commission. These requirements contemplate that the Company will normally provide bi-weekly updates on its affairs until such time as it is current with its financial statement filing obligations under Canadian securities laws.

    The Company reported that there have been no material developments in the matters reported in the press release dated March 31, 2005, other than as reported below.

    As a result of its failure to file the Annual Financial Statements on or before March 31, 2005 the Ontario Securities Commission, consistent with Ontario Securities laws, has imposed a cease trade order affecting directors, officers and insiders of the Issuer (a management cease trade order). The Company had, prior to March 31, 2005, advised directors and officers, in accordance with the Company's insider trading policy, that they were subject to a blackout period with respect to trading in securities of the Company until such time as all regulatory filings have been made.

    The Company still expects that its auditors, RSM Richter LLP, will complete their audit in time for the Company to file its required financial information prior to May 31, 2005. Interim financial statements for the quarter ended March 31, 2005 will be filed no later than May 31, 2005, but cannot be filed prior to the filing of the 2004 annual financial statements.

    About Mamma.com Inc.

    Mamma Media Solutions(TM) is focused on providing quality information retrieval on the Internet through its metasearch engine and is a leading provider of integrated marketing solutions to online advertisers. For more information, visit www.mammamediasolutions.com.

    Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties that can cause actual results to differ materially from estimated results. Such risks and uncertainties are detailed in the Company's filings with the United States Securities and Exchange Commission and the Ontario Securities Commission and include but are not limited to whether 2004 financial statements will be issued and filed, and if so when, whether prior year audit reports will be withdrawn and what conclusions result from the investigation being carried out under the Audit Committee's supervision. The Company expressly disclaims any intent or obligation to update any description of the scope, focus or subject matter of the statements in this press release.



    MAMMA.COM INC. (NASDAQ:MAMA)

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CONTACT: Mamma.com Inc. Guy Faure President and CEO (514) 908-4346 (Local) or (888) 844-2372 (Toll Free) guy@mamma.com www.mammainc.com

KEYWORD: NEW YORK INTERNATIONAL CANADA INDUSTRY KEYWORD: SOFTWARE INTERNET E-COMMERCE EARNINGS SOURCE: MAMMA.COM INC.

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