THK Think Partnership

Kowabunga!� (AMEX:THK), the leading provider of interactive performance-based advertising networks and technology platforms, announced today that it has engaged McFarland Dewey & Co., LLC as its financial advisor to assist in the divestiture of certain non-core business units. The Company intends to focus its efforts on its Network and other interactive businesses which have potential for enhanced growth. The business units that are no longer considered critical to its long term strategy and identified for divestiture are: (1) Cherish Inc., which provides online personals services; (2) MarketSmart Advertising Inc., which provides traditional offline advertising services; and (3) iLead Media, LLC, which provides online lead generation and digital marketing services. Proceeds from the sales will be used to reduce indebtedness and to fund the expected continued growth of the Network segment. The Company also announced that it expects to complete the sale of The Catamount Group, its full-service direct response agency located in Bethel, Conn. within the next ten days. Catamount formerly operated within the Company�s Direct segment. �The recent growth in our Network segment over the past few quarters has provided us with the flexibility to move more aggressively to divest certain non-core assets,� said Stan Antonuk, CEO of Kowabunga!. �McFarland Dewey�s recent experience in selling similar businesses was instrumental in our decision to choose them as our financial advisors. We are confident they will provide valuable assistance in accelerating the process of finding the right buyer and optimizing the value of these businesses.� �We anticipate that these planned divestitures will allow us to better focus on the growth opportunities in our Network and other interactive businesses,� Antonuk went on to say. �Our ValidClick� legacy search network continues to exceed our earlier growth expectations and our newer ValidClick AdExchange� is drawing increasing interest as the only truly open pay-per-click marketplace. Through effective leveraging of our FeedPatrol� click fraud technology in combination with Fair Isaac�s� Click Conversion Score�, we believe that the ValidClick AdExchange provides the only objective, data-driven method in the industry for fairly compensating publishers by evaluating the relative conversion value of a click. Correspondingly, advertisers are able to effectively extend their reach while achieving a more consistent ROI on their marketing expenditures. In June, we upgraded the platform�s performance and scalability to allow enhanced efficiency. On the CPA side, the upgrade to our merchant affiliate platform, MyAP�, as well as the planned simultaneous launch of our own affiliate network platform, KB Network, continues and will be made available to both new and existing merchants and affiliates by this fall. We believe MyAP�s new features and functionality will help us be very competitive and will lead us to market share gains in the CPA affiliate marketing space over the long term.� About Kowabunga! Inc. Think Partnership Inc. is now doing business under the name "Kowabunga! Inc." and will seek formal shareholder approval to change its legal name to Kowabunga! Inc. later in 2008. Kowabunga Marketing Inc. will continue as a subsidiary, operating its affiliate network and related products. Kowabunga! Inc. is the leading provider of interactive performance-based advertising networks and technology platforms. Kowabunga! provides a comprehensive and integrated set of scalable and cost-effective marketing solutions for both advertisers and publishers. These solutions increase customer retention and revenues through a diverse set of related marketing channels, including affiliate marketing, click-fraud-protected pay-per-click advertising, lead generation, interactive direct marketing, integrated offline advertising, campaign management, public relations, and branding. Kowabunga! also operates several direct-to-consumer services including online dating, online education, and home business opportunities. High-profile brands include ValidClick AdExchange�, MyAP�, PrimaryAds�, BabyToBee�, Second Bite� and MSA. For more information, visit www.kowabunga.com. About McFarland Dewey & Co., LLC McFarland Dewey & Co., LLC is a partners-owned investment bank providing, since 1989, financial advice to middle market companies and their shareholders. McFD bankers bring decades of experience advising on complex transactions which require specific industry knowledge and seasoned judgment of the financial world. The firm has extensive expertise in advising on mergers and acquisitions, corporate restructurings and privately raising debt and equity. Their offices are located in New York and Cleveland. For more information, visit www.mcfarlanddewey.com. Forward-Looking Statements Statements made in this press release that express the company�s or management�s intentions, plans, beliefs, expectations or predictions of future events, are forward-looking statements. Those statements are based on many assumptions and are subject to many known and unknown risks, uncertainties and other factors that could cause the company�s actual activities, results or performance to differ materially from those anticipated or projected in such forward-looking statements. For a discussion of these risks, see the company�s report, as filed with the Securities and Exchange Commission on Form 10-K, filed March 31, 2008, under the section headed �Risk Factors.� The company cannot guarantee future financial results, levels of activity, performance or achievements, and investors should not place undue reliance on the company�s forward-looking statements.