TORONTO, ONTARIO, Nov 25, 2008 (MARKET WIRE via COMTEX) --
Call Genie Inc. (CA:GNE:
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("Call Genie" or the "Corporation") today
announced the completion of a voluntary stock option surrender
program. Under the program, various employees and directors
surrendered previously issued stock options for cancellation. The
exercise prices associated with those options were in excess of the
current trading price of the Call Genie common shares and, in many
cases, were significantly in excess of the current market. Management
and the directors of Call Genie are of the view that the surrendered
options were providing limited motivational benefit for employees.
Participation in the option cancellation program was entirely
voluntary and no agreements or commitments have been made to holders
with respect to the receipt of new options.

The Board approved program resulted in the cancellation of 8,707,666
stock options. Of those cancelled options, 6,230,000 were surrendered
by directors and senior officers of the Corporation. The cancelled
options, which entitled the holders thereof to purchase up to an
aggregate of 8,707,666 common shares of the Corporation, had a
weighted average exercise price of $0.77. As a result of the program,
the Corporation has recovered approximately $1,225,000 of stock based
compensation expense previously recorded in its financial statements.
For the nine month period ended September 30, 2008, the Corporation
incurred $1,185,846 of stock based compensation expense.

"The Board of Directors remains of the view that stock options
encourage Call Genie personnel to act as owners, which helps align
their interests with those of the shareholders, and represent an
important incentive to employees in their efforts on behalf of the
Corporation," stated Richard Devries, Chairman of the Board of
Directors of Call Genie. "At this time, the Board of Directors
anticipates that stock options will continue to be used to as an
incentive to employees."

About Call Genie Inc.

Call Genie is a leading global provider of local mobile search and
advertising solutions that connect ready to transact consumers
directly with local merchants for local directory businesses,
directory assistance services and local media publishers. Call Genie
solutions are deployed in 11 countries around the world. Call Genie
has been awarded the Excellence in Integrated Ad Management award by
the Pelorus Group, has won the Yellow Page Association Industry
Excellence Award for Marketing Innovation, the Whitaker Innovation
Award, and the 118 Tracker Award for both Technology Innovation in
the UK and most recently, Outstanding Contribution to the Industry.
www.callgenie.com.

The TSX Exchange has neither approved nor disapproved the contents
of this news release.

Contacts:
Call Genie Inc.
Alex Blodgett
Investor Relations
(403) 410-6875
Email: alex.blodgett@callgenie.com
Website:  www.callgenie.com

SOURCE: Call Genie Inc.

mailto:alex.blodgett@callgenie.com
 http://www.callgenie.com