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Destiny Announce Record Q3 Revenues Up 40% from Q2

Sequential Revenue Growth in 15 of the Last 19 Quarters Averaged 20%

VANCOUVER July 14, 2011 May 31, 2011. $1,176,473 $324,720

Fred Vandenberg France Germany Japan $600,000

Steve Vestergaard

We signed a number of new and renewal agreements for our Play MPE® service, including a renewal of our global agreement with Universal Music and a number of independent and international regional major agreements.  The partnership we announced in May with a subsidiary of Dentsu for Asian distribution is expected to impact Q1 2012.

Canada’s

  Three Months    Nine Months  
  Ended     Ended  Ended
  May 31,     May 31,  May 31,
  2011    2011  2010
  $ $ $
Revenue 1,176,473 952,383 3,074,183 2,869,775
Operating expenses        
General and administrative  262,467 255,487  922,012 768,013
Sales and marketing 184,280 184,801  598,811  578,289
Research and development 392,818   1,151,463 879,668
Amortization  13,533   44,313 38,789
  853,098   2,716,599 2,264,759
Income from operations 323,375 213,669 357,584 605,016
Other income (expenses)        
Other income  43   3,073 88,466
Interest income 1,445 641 6,527 2,706
Interest and other expense  (143) (537)  (628) (2,410)
Income before income taxes 324,720   366,556  693,778
Income tax expense – deferred (94,000)  —  106,000)  —
Net Income 230,720 243,929  260,556 693,778
Net income per common share, basic and diluted 0.01  0.00 0.01 0.01

About Destiny Media Technologies

http://www.dsny.com http://www.plaympe.com http://www.plaympe.com/v4/company/plaympestats.php http://www.dsny.com/pres/index.htm

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy and accuracy of this release.

SOURCE Destiny Media Technologies, Inc.

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