ShopNBC Monetizes Illiquid Auction Rate Securities

MINNEAPOLIS, MN, Jul 10 (MARKET WIRE) --
ShopNBC (NASDAQ: VVTV), the premium lifestyle brand in electronic
retailing, today announced it has monetized its portfolio of auction rate
securities for $19.4 million in cash. The company's auction rate
securities portfolio had a carrying value of $15.7 million and the sale
resulted in a non-operating gain of $3.7 million. The company stated it
is pleased to have monetized these securities and strengthened its
balance sheet.

About ShopNBC

ShopNBC is a multi-channel electronic retailer operating with a premium
lifestyle brand. The shopping network reaches 73 million homes in the
United States via cable affiliates and satellite: DISH Network channels
134 and 228; DIRECTV channel 316. http://www.ShopNBC.com is recognized as
a top e-commerce site. ShopNBC is owned and operated by ValueVision Media
(NASDAQ: VVTV).

Forward-Looking Information

This release contains certain "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements are based on management's current expectations and are
accordingly subject to uncertainty and changes in circumstances. Actual
results may vary materially from the expectations contained herein due to
various important factors, including (but not limited to): consumer
spending and debt levels; interest rates; competitive pressures on sales,
pricing and gross profit margins; the level of cable distribution for the
Company's programming and the fees associated therewith; the success of
the Company's e-commerce and rebranding initiatives; the performance of
its equity investments; the success of its strategic alliances and
relationships; the ability of the Company to manage its operating expenses
successfully; risks associated with acquisitions; changes in governmental
or regulatory requirements; litigation or governmental proceedings
affecting the Company's operations; and the ability of the Company to
obtain and retain key executives and employees. More detailed information
about those factors is set forth in the Company's filings with the
Securities and Exchange Commission, including the Company's annual report
on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form
8-K. The Company is under no obligation (and expressly disclaims any such
obligation) to update or alter its forward-looking statements whether as
a result of new information, future events or otherwise.

Contacts:
Frank Elsenbast
Chief Financial Officer
952-943-6262

Anthony Giombetti
Media Relations
612-308-1190

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