TORONTO & AMSTERDAM - November 5, 2008 - VFM Interactive Inc., the leading distributor and producer of rich visual content for the travel industry, announced today that it has acquired the business of European-based Leonardo Media B.V., the leading distributor of still image content for the travel industry. The combined entity, VFM Leonardo Inc., will host over one million digital photographs, videos and 360° virtual tours for 80,000 hotels and resorts worldwide and distribute this content to all four Global Distribution Systems (GDS), Pegasus Solutions and more than 30,000 travel related websites.

"Combining these two businesses creates the largest image database and online media network for the global travel industry," said Paolo Boni, President and Chief Executive Officer of VFM Leonardo. "Visual content, particularly rich visual media has proven to be a very effective way to increase bookings and average daily rates (ADR) for the hotel industry," added Mr. Boni. "By combining the distribution networks of the two companies, we are not only making it easier for hotel brands and properties to manage their images, we are giving them access to the largest media network in the world to reach online travel shoppers."