VRX Reports First Quarter Results (Unaudited)

• Record Licensing Fees: up 35% over Q1’07 and 6% over Q4’07
• 6th Straight Quarter of Licensing Fee Growth
• Gross Profit Increases 18.8% over Q1’07 to $427,258
• EBITDA Increases 35% over Q4’07 to ($124,981)

Vancouver, B.C. (May 15, 2008), VRX Worldwide Inc. (TSX-V:VRW) reports its unaudited financial results for the first quarter ending March 31, 2008. The financial results reflect strong growth, year-over-year and quarterover-quarter, of the Company’s Licensing Fees and a significant improvement in the Company’s Gross Profit and EBITDA.

Total revenue for the first quarter of 2007 was $978,798 with quarterly Licensing fees reaching a record $432,029 after eighteen straight months of growth.

“As the global online travel industry evolves, the demand for high quality, consistent, rich media content is escalating. We’ve seen this with large scale rich media projects being initiated by companies such as Wyndham Hotel Group,” commented David MacLaren, President and CEO of VRX. “With this demand comes the growing need for supporting services such as rich media content hosting and distribution services. This can readily be seen in the increase in our Licensing fees over the past eighteen months. Today, with the recent launch of our new distribution service, Athena, we are now delivering an end-to-end rich media content solution that’s driving both our Service and Licensing revenues.”

In the first quarter, VRX’s Service fees were generated primarily by production agreements with Fairmont Hotels and Resorts, Red Roof Inns and Wyndham Hotel Group. Both Fairmont and Red Roof projects were started in the beginning of this quarter whereas the Wyndham project is now in its third year. As the Company completed shooting most of Wyndham’s 6,000 properties in 2007, VRX is currently covering all new openings and renovations of the Wyndham brands: Howard Johnson®, Travelodge®, Super 8®, Days Inn®, Ramada®, Wingate Inn® and Baymont Inn and Suites®.

Cost of Sales
As compared to the same period in 2007, the Company’s cost of sales decreased 8.6 percent due to a lower number of hotels being shot. Combined with the increase in Licensing fees, resulted in an 18.8 percent increase in the Company’s gross profit.

Costs and Expenses
Over the same period in 2007, operating expenses in the first quarter of 2008 decreased 8.9 percent while total revenues have increase 1.7 percent.

Sales, marketing and product promotion expenses increased 83% due to additions made to our sales force to actively pursue and maintain new customers and due to increased marketing efforts.

Research and development expenses increased by 120% due to an increase of programmers’ salary and wages and consulting fees to further develop innovative products and services as well as the Company’s new technology initiative to improve production efficiency, the company's distribution and hosting platform and add to its stable of products and services.

General and administrative expenses decreased 62% due to the reclassification and to discontinuing the services of a third party providing accounting and finance duties. The Company now employs an internal finance team with a scalable financial infrastructure that will support the Company’s growth plans for the next three to five years.

Net Income (Loss)
VRX recorded a Net Loss of $260,107 in the first three months of 2008 compared with a net loss of $324,467 for the same period in 2007, an improvement of 20%. Further, VRX’s earnings before interest, taxes, depreciation and amortization (EBITDA) improved 35% for the first three months of 2008 over the prior period in 2007.

Balance Sheet
Balance sheet item of note is a $1,074,441 decrease in working capital to ($1,207,165). The decrease in working capital is related to the Company realizing a cash loss from operations of $260,107 and the reclassification of the long term liability component of the convertible debenture to current liabilities.

Improvement in the Company’s working capital during 2008 is largely dependent on the success of the Company’s Hotel Program, Athena and its technology initiatives. Ultimately, the Company’s increase in liquidity and capital resources will be based upon its ability to achieve consistently profitable operations.

Outlook
Licensing fees are expected to maintain their strong growth trend throughout 2008 and beyond driven by the combination of an increasing number of licensing clients, further integration of VRX’s content by existing clients, a growing archive of Hotel, Cruise and Destination Content and the launch of new initiatives such as Athena. Service fees are expected to comprise a large but lower percentage of total revenue in 2008 as VRX delivers more end-to-end rich media content solutions.

Detailed Financial Statements
The financial results provided in this release are based upon unaudited results. The full financial statements and the related MD&A are now available on the Company’s website, ,www.vrxstudios.com and on SEDAR at www.sedar.com.