WebMediaBrands Inc. Secures Additional Funding and Reduces Financing Charges

WebMediaBrands Inc.

today announced that it had obtained a $1,750,000 loan from Alan Meckler, the Company's Chief Executive Officer, and that Mr. Meckler had agreed to reduce the effective interest on an existing loan to the Company by $480,000 per year. The new and existing loans bear interest at the fixed rates of 3.1% and 3.4% per annum, respectively, and both loans will mature in 2016. No principal payments are required on either loan until July 2014. The Company also issued stock options to Mr. Meckler to purchase one million shares of common stock. The stock options were issued under the Company's existing 2008 stock option plan.