For Immediate Release

OMT INC. ANNOUNCES PRIVATE PLACEMENT

Winnipeg, Manitoba, February 21, 2005 – OMT Inc. (“OMT”) (TSX Venture: OMT) announced today a private placement offering of up to $400,000 aggregate principal amount of 4 year 8% subordinate convertible debentures (the “Debentures”) of OMT. The Debentures will have the same terms as the debentures issued pursuant to the previous offering of OMT which closed on December 20, 2004 (the “Initial Closing Date”). In addition, OMT has reached an agreement with ENSIS Growth Fund Inc. (“EGF”) with respect to an additional private placement of subordinated debt to EGF. A summary of the proposed transactions is set forth below.

OMT will undertake an offering (the “Offering”) of a maximum of $400,000 principal amount of Debentures to accredited investors in such Canadian jurisdictions as may be determined by OMT. The Debentures will bear interest at a rate of 8% per annum, payable monthly. The Debentures will be convertible into common shares of OMT at a price equal to $0.10 per share for two years following the Initial Closing Date, increasing to $0.11 in year three after the Initial Closing Date and $0.12 in year four after the Initial Closing Date. The Offering will not be brokered, however certain individuals and registered investment dealers will be paid a finder’s fee of up to 5% of the gross proceeds raised from the sale of Debentures to subscribers that they have introduced to OMT. No broker warrants will be issued in connection with the Offering.

EGF has agreed to make an additional investment in OMT equal to the amount raised by OMT pursuant to the Offering by way of a convertible loan having the same term as the Debentures with an interest rate of 8% per annum, payable monthly. The additional EGF loan will be convertible into common shares of OMT on the same terms as the Debentures.

The terms of the foregoing transactions are subject to, among other things, the approval of the TSX Venture Exchange.

About OMT
OMT Inc. (TSXV:OMT) is an entertainment technology and content delivery provider to the broadcast and entertainment industries. Intertain Media, the digital entertainment division, and iMediaTouch, the radio broadcast solution group, distribute audio content that is heard by millions of people worldwide every day through television, radio, satellite, cable and Internet broadcasts. To learn more

FOR FURTHER INFORMATION PLEASE CONTACT:
Scott Farr
Tel: 204.795.0790
Email: sfarr@omt.net

Marieke Wijtkamp, OMT Chief Operating Officer
Phone: (204) 975-0792
Email: mwijtkamp@omt.net

The TSX Venture Exchange has not reviewed or approved the contents of this press release and does not accept responsibility for the adequacy or accuracy of this press release.

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