JAG Media Holdings, Inc. Announces a Further Update of the Status of Its Acquisition of CardioG...(aken by the Company remain outstanding a...),Health

Date:6/30/2009

aken by the Company, remain outstanding and unexchanged in accordance with the terms of the respective recapitalizations. Since such shares no longer have any voting rights and only represent the right to be exchanged for the applicable number of current JAG Media common shares in accordance with the respective recapitalizations, we urge all shareholders who hold any of these recapitalized classes of common shares to exchange them for JAG Media common shares prior to the scheduled closing date of the CardioGenics acquisition. If you are unsure whether you own any of these recapitalized classes of common shares or believe you may have lost your stock certificate representing such shares, you can contact the Company's transfer agent, Transfer Online, Inc., to determine if you are a registered owner of any of these classes of common shares or to make arrangements to replace and exchange any lost certificates. Likewise, if you have your certificate(s) for any of these classes of recapitalized common shares, the transfer agent can assist you in exchanging such shares for the applicable number of shares of JAG Media common stock. The transfer agent can be contacted at:

                     Transfer Online, Inc.
                     317 SW Alder Street, 2nd Floor
                     Portland, OR 97204
                     Tel: 503.227.2950
                     Fax: 503.227.6874

                     Attention: Aaron White
                     E-mail: aaron@transferonline.com

About JAG Media Holdings, Inc.

JAG Media Holdings, Inc. is a provider of Internet-based equities research and financial information that offers its subscribers a variety of stock market research, news and analysis, including "JAG Notes", the Company's flagship early morning consolidated research product.

About CardioGenics Inc.

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SOURCE JAG Media Holdings, Inc. Copyright©2009 PR Newswire. All rights reserved

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