IPE Iperceptions Inc.

iPerceptions Inc. (TSX-V: IPE), a leading provider of web-focused Voice of Customer Analytics, today reported their second quarter results for 2008 and announced a 58% increase in revenues for the second quarter of 2008 compared to the same period last year.

Business Highlights for the Quarter:

Q2 saw a continued push for 4Q, a free survey tool that allows website owners and operators of all sizes to easily understand the reasons why visitors are coming to their websites and whether or not they are able to complete their tasks. Through low to no cost press, viral marketing, social media and strategic partnerships, 4Q has gained thousands of registrations in under 6 months of market presence. From small to medium to large, established companies such as Xerox, Subaru and Random House have added 4Q as a powerful weapon in their web analytics arsenal. A handful of 4Q users have already converted through to iPerceptions' enterprise solution, the webValidator, clearly demonstrating that 4Q is becoming a powerful sales tool for iPerceptions.

One of the strategic partnerships that will grow 4Q's user database is a collaboration with an independent third-party that works to facilitate web-hosting package value-add tools for hosting companies. During Q2, iPerceptions focused on integrating this company's technology with the 4Q tool. By adding on 4Q as a value-added tool within hosting company interfaces, 4Q will be open to millions of small to medium business/website owners that may not have otherwise been exposed to the service.

Also in Q2 2008, iPerceptions announced the findings of a commissioned Total Economic Impact (TEI) study conducted by Forrester Consulting on behalf of iPerceptions Inc., on the webValidator Continuous Listening Solution. Forrester's data was obtained directly from within an iPerceptions customer who is a major online retailer of consumer and enterprise electronics to analyze ROI, benefits and costs.

Key findings included in the Forrester Consulting TEI(TM) study:

--  ROI: ROI for the iPerceptions customer studied is at least 222%, with
    the potential to be higher if all benefits accruing to the product could be
    precisely attributed to its deployment.
--  Benefits: The chief benefit that is directly attributable to the
    webValidator Continuous Listening Solution is a reduction in
    customer/prospect calls to the support center as eService has been
    improved.
--  Forrester found that this iPerceptions client avoided several million
    dollars in call center support costs as improvements in the company's
    eSupport capabilities resulted in migration of calls to web-based self
    service.
    

The webValidator was also instrumental in enabling the organization described in this case study to effect change in culture toward more customer centricity as decision-makers adopted a common framework and a set of standard metrics for measuring customer perceptions worldwide on the company's many language/country websites.

Business Development

iPerceptions added numerous high-profile corporations to its customer portfolio in the second quarter of 2008, such as IDG (13 properties), The Economist, and Dolby. iPerceptions renewed annual contracts with high profile clients such as Land Rover USA, BMW/Mini Canada, and Nissan Canada. Q2 2008 also saw pilot continuations from Videotron, Autodesk and BMW North America, as well as custom studies developed for LG Canada, Dell and Samsung.

Exercise of Warrants and Options

On June 27, 2008, a holder of 760,198 warrants and four (4) holders of an aggregate of 225,000 options due to expire on June 30, 2008 have exercised their rights. Accordingly, 985,198 shares have been issued for a cash consideration of $409,588.

iPerceptions delivered the following results for the second fiscal quarter of 2008:

Revenue: For the quarter ended June 30, 2008, revenue totaled $1,132,181 compared to $715,191 for the corresponding period in the previous fiscal year, an increase of 58%.

Net Loss and Earnings per Share: Net loss and comprehensive loss for the quarter ended June 30, 2008 was $686,712 compared to $401,292 in the same period of 2007. The increase in net loss is mostly attributable to the increase in sales and marketing to acquire new business and research and development activities. The second quarter basic and diluted loss per share for 2008 and 2007 were $0.02.

Cash Position: Total cash and cash equivalents are $1,071,480 at the end of the second quarter. During the second quarter of 2008, the cash used in operating activities amounted to $528,831.

"The continued growth of 4Q and combined with the proven strength of the webValidator has clearly demonstrated iPerceptions as being the leader in Voice of Customer technology for both small to medium businesses and enterprise-level corporations alike," says Jerry Tarasofsky, CEO and President of iPerceptions. "As 4Q begins to take hold of the global market, after being released in 16 languages, we are ready to provide tactical business intelligence to companies around the world," Mr. Tarasofsky said.

For additional information, consult our Management Discussion and Analysis filed on SEDAR at www.sedar.com.

About iPerceptions:

iPerceptions is one of North America's leading web-focused Voice of Customer analytics providers. Its webValidator Continuous Listening solution and Proprietary iPerceptions Satisfaction Index (iPSI) turn thousands of data points into easy-to-understand strategic and tactical decision support for website marketers. iPerceptions' clients include such well known brands as InterContinental Hotels, General Motors, Dell Computers, Hyundai, LG Electronics, Toshiba, Choice Hotels International, BMW and Monster Worldwide. iPerceptions has offices in New York, Toronto, Montreal and London, UK.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.

Media information: Emily Brady Brady PR 415-606-9350 Investor information: Jerry Tarasofsky Chief Executive Officer iPerceptions Inc. Tel: 514-488-3600 Fax: 514-484-2600