iLOOKABOUT Lands Geo-Spatial Agreement With Teranet

LONDON, ONTARIO, Apr 17 (MARKET WIRE) --
iLOOKABOUT Corp. ("iLOOKABOUT) (TSX VENTURE: ILA) today announced that
it has completed the development of the software application to integrate
Teranet's Ontario Parcel Data with iLOOKABOUT's StreetScape image data
base, as required under their five-year master services agreement which
was signed in December 2007. The agreement also licenses the use of
iLOOKABOUT's visual data, viewers, and software required to access its
image database to Teranet and its customers. Compensation terms are based
on royalty payments, but no other financial details were disclosed.

"Our agreement with Teranet formalizes the productive and valued
partnership our companies have developed over the past year," said Jeff
Young, President and CEO of iLOOKABOUT. "We believe that, through the
continued collaboration of our companies and the integration of our
information-rich databases we can offer a unique, visual data
intelligence solution. We view this partnership as a significant
endorsement of iLOOKABOUT StreetScape and our other products and services
like our virtual tours and the ImageStore image management system."

"We are very pleased to be partnering with iLOOKABOUT on this new
strategic initiative for Teranet," stated Mike Power, Executive Director,
eServices of Teranet. "Teranet is committed to providing technologically
innovative and cost effective e-service solutions in land registration
management. This relationship with iLOOKABOUT signifies Teranet's intent
to service, with excellence, the visual data needs of the government,
businesses and professionals of Ontario."

iLOOKABOUT and Teranet have assigned project teams to manage the
technology and service integration and are now jointly working on a
number of customer initiatives.

About iLOOKABOUT

iLOOKABOUT is a visual data intelligence company serving commercial
enterprise in the municipal, real estate and insurance sectors in North
America and Europe with products and services including iLOOKABOUT
StreetScape and Virtual Tours. A pioneer in visual data with its Virtual
Tour product, the company recently developed iLOOKABOUT StreetScape, a
visual data intelligence product for the geo-spatial market. iLOOKABOUT
StreetScape is 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
also has offices in Toronto Canada, and London, U.K. iLOOKABOUT's shares
are traded on the TSX Venture Exchange under the symbol ILA.

About Teranet Income Fund and Teranet

Teranet Income Fund is an unincorporated, open-ended trust established
under the laws of Ontario by way of a declaration of trust. The Fund was
created to indirectly acquire all of the outstanding shares of Teranet
Inc. The units of the Fund trade on the Toronto Stock Exchange under the
symbol TF.UN.

Teranet Inc. is a leading provider of integrated land-based information
products and services. Teranet operates in Ontario and provides access to
the Ontario Electronic Land Registration System ("ELRS") through its
proprietary application Teraview(R) software. This product enables
customers to conduct electronic registrations as well as title and writ
searches relating to real property. Teranet has the exclusive right to
access the data in and operate the ELRS and the Writs of Execution
database, and create and market value-added products and services in
connection with the ELRS and writs until March 31, 2017. These licences
extend on a non-exclusive basis in perpetuity for the ELRS and until 2047
for writs. Through its subsidiary Teranet Enterprises Inc. Teranet has
leveraged its core capabilities to create electronic service offerings in
complementary information and e-commerce areas.

TSX Venture Exchange has not
reviewed and does not accept responsibility for the adequacy or accuracy
of this release.

Contacts:
iLOOKABOUT
Jeff Young
President and CEO
(519) 963-2015
Email: jeffyoung@iLOOKABOUT.com
Website: www.iLOOKABOUT.com

Teranet Inc
Mike Power
Executive Director, eServices

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