The Tube Media Corp. Announces $2.45 Million Capital Infusion

The Tube Media Corp. Announces $2.45 Million Capital Infusion

FORT LAUDERDALE, Fla., April 26 /PRNewswire-FirstCall/ -- The Tube Media Corp. (BULLETIN BOARD: TUBM.OB) , announced today that it closed a deal to receive financing of $2.45 million in a private placement transaction with several institutional investors.

The Tube Media Corp. and the investors entered into a Purchase Agreement and a Registration Rights Agreement, each of which are dated April 21, 2006. Pursuant to the terms of the Purchase Agreement, The Tube Media Corp. sold 7% secured convertible notes in the aggregate principal amount of $2.45 million and issued common stock purchase warrants to purchase an aggregate of 1,088,889 shares of the Company's common stock, par value $0.0001 per share, at an exercise price of $2.25 per share to the investors. For additional detail, please review the Form 8-K being filed by the Company with respect to this transaction.

Palladium Capital Advisors, LLC acted as the exclusive placement agent for this financing.

Forward-Looking Statements

This press release may include a number of "forward-looking statements" as that term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements reflect management's current views with respect to future events and financial performance and include statements regarding management's intent, belief or current expectations, which are based upon assumptions about future conditions that may prove to be inaccurate. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, involve risk and uncertainties, and that as a result, actual results may differ materially from those contemplated by such forward- looking statements. Such risks include, among other things, the volatile and competitive markets in which we operate, our limited operating history, our limited financial resources, our ability to manage our growth and the lack of an established trading market for our securities. When considering forward- looking statements, readers are urged to carefully review and consider the various disclosures, including risk factors and their cautionary statements, made by us in our reports filed with the Securities and Exchange Commission.

Source: Tube Media Corp.

CONTACT: Media Relations, Denise Sullivan of THE TUBE Music Network, +1-
305-673-6890, or denise@afterplay.net; or Investor Relations: Judy Crowhurst
of Tube Media Corp., +1-954-714-8100, or jcrowhurst@tubemc.com

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