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Phantom Fiber to Build an Integrated Wireless Solution to Deliver Personal Health Records on Mobile Devices for MyMedicalRecords.com.au

Phantom Fiber to Build an Integrated Wireless Solution to Deliver Personal Health Records on Mobile Devices for MyMedicalRecords

TORONTO -- (MARKET WIRE) -- 06/10/08 -- Phantom Fiber Corporation (OTCBB: PHFB) today announced a multi-year contract with MyMedicalRecords.com.au to deliver an integrated mobile solution for their Personal Health Records system. The terms of the contract specify Phantom Fiber is to receive a one-time facilitation fee, as well as ongoing revenue sharing upon implementation of the platform.

The deployment will target the Australian and New Zealand markets. The integration will provide MyMedicalRecords.com.au clients with access, through their mobile device, to all of the functionality they have come to expect from the Internet offering. The seamless integration to mobile will allow clients 24/7 emergency access to medical information at their fingertips, such as medical history, emergency contacts, insurance and prescriptions. The mobile extension will operate on over a 1000 devices including Java phones, Blackberry, Palm, Microsoft PocketPC and Smartphone based handheld devices from anywhere in the world and support multiple languages.

Russell Armstrong, Founder of MyMedicalRecords.com.au, stated, "Internally we knew mobile access was a critical piece to a successful personal health record application. However, as we first launched the development of MyMedicalRecords.com.au we felt the mobile market was still not mature enough to support the speed, security and functionality demands we desired in a mobile offering. Once we were introduced to Phantom Fiber and the performance, portability and most importantly the security inherent to their offering, we immediately realized we could now move forward into the mobile market at an accelerated rate. The mobile solution which will integrate directly into our secure personal health record platform is the next generation of technology that will deliver cutting edge convenience for our clients. After reviewing a number of mobile providers, we could not be more pleased with our choice of Phantom Fiber."

Jeff Halloran, Chairman & CEO of Phantom Fiber, stated, "Being awarded this contract is significant to Phantom Fiber Corporation for a number of reasons. First and foremost we made a strategic corporate decision to demonstrate the breadth of our platform by securing key clients in markets outside of the gaming and entertainment sector where we are recognized as a leader. The healthcare sector along with the successful penetration of the financial sector certainly proves the versatility and confidence our clients have in our product. Equally as important is how well our two organizations complement each other. The key component to a Personal Health Record is always having access to your family's complete health record in a secure central location. Now whether on vacation, while travelling or should a medically related call pertaining to a family member be received, your critical health information is at your fingertips at all times. We couldn't be happier partnering with a recognized leader in this emerging PHR market."

Additional investor information about Phantom Fiber Corporation is available via their Investor Relations firm, First Capital Investors, at www.firstcapitalinvestors.com.

ABOUT MYMEDICALRECORDS.COM.AU

MyMedicalRecords.com.au, Inc. ("MMR.AU") is an Australian provider of a Web-based personal health record and vital document storage solutions available to consumers, employers, healthcare providers, insurance companies and brokers, unions, professional organizations, and government agencies enabling individuals and their families to have greater control over their health and well-being. MMR.AU offers an easy-to-use, secure and convenient online personal health record (PHR) solution that enables documents, images and voicemail messages to be transmitted in and out of the system using a variety of methods, including fax, file upload and e-mail. MMR.AU also serves as a virtual safe deposit box for storing any important documents, including insurance policies, financial records, advance directives, deeds of trust and wills, providing an emergency preparedness tool that protects valuable information from being lost or destroyed by fire, flood, earthquake and other disasters.

For further information, please visit: www.MyMedicalRecords.com.au

About Phantom Fiber Corporation

Phantom Fiber Corporation is a leading developer of wireless platform software that enables its customers to deliver high-performance applications across global communications networks to mobile users. Their wireless platform extends the rich multimedia content and user experience of existing Internet web sites securely and instantly to over 1,500 mobile devices including cellular phones and PDAs. This platform is already deployed to most segments of the global gaming industry and can be used by enterprises seeking to implement high performance mobile applications in such markets as: remote video surveillance; banking and brokerage applications; as well as the logistics and distribution markets. For more information about Phantom Fiber, please visit our web site at www.phantomfiber.com

Forward-Looking Statements:

In this press release we make "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results or strategies and can often be identified by the use of terminology such as "may," "will," "estimate," "intend," "continue," "believe," "expect," "anticipate," "could," "potential," "opportunity," or similar terminology. These statements are based upon management's current expectations, assumptions and estimates and are not guarantees of future results or performance. Actual outcomes may differ materially from those projected in these statements due to a variety of risks and uncertainties and other factors, including, among other things: competition; material adverse changes in economic and industry conditions in our markets; technological change; retention and renewal of existing contracts; availability and adequacy of cash flow to satisfy obligations and indebtedness or future needs; protection of intellectual property; security and integrity of software and systems; laws and government regulation, including those relating to gaming licenses, permits and operations; seasonality; dependence on suppliers and manufacturers; factors associated with foreign operations; dependence on key personnel; failure to perform on contracts; resolution of pending or future litigation; labor matters; and stock price volatility. Additional information regarding risks and uncertainties and other factors that could cause actual results to differ materially from those contemplated in forward-looking statements is included from time to time in our filings with the SEC, including our most recent Annual Report on Form 10-K. Forward-looking statements speak only as of the date they are made, and except for our ongoing obligations under the U.S. federal securities laws, we undertake no obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise.

For further information, please contact:

Phantom Fiber Corporation
Investor Relations
First Capital Investors, Inc.
321-221-2910
Email Contact

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