TORONTO, ONTARIO--(MARKET WIRE)--Aug 29, 2008 -- MPL Communications Inc. (CDNX:MPZ.V - News) announces that an independent committee of directors, comprised of Allie Ash, Lynn Goth and William Scott, was appointed on August 11 to consider the proposed offer by MPL's majority shareholders to acquire all of the common shares of MPL that they do not already own.

The independent committee has now retained Kalex Valuations Inc. of Toronto to prepare the required formal valuation of MPL's shares and, if warranted, to provide a fairness opinion with respect to the proposed offer. The independent committee also retained McCarthy Tetrault LLP as counsel.

MPL announced on August 7, 2008 that its majority shareholders made a proposal to acquire all of the common shares of MPL that they do not already own. The offer will be a cash take-over bid pursuant to which minority shareholders will be offered Cdn $0.08 per share. MPL's shares are listed on TSX Venture Exchange under the trading symbol MPZ.

MPL is an internationally recognized independent investment advisory publisher of nine investment advisory newsletters, an investment newspaper published twice monthly, an investment advisory web site and an on-line equity research service. MPL also publishes two non-financial newsletters for health and dental professionals. Almost all subscribers are located in Canada.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

     Contacts:
     MPL Communications Inc.
     William Scott
     Chairman, Independent Committee
     (416) 869-1177
     Email: independentdirectors@mplcomm.com