Seamiles Limited reported earnings results for the second quarter and six months ended June 30, 2009. For the period, the company reported revenue of $3,071,798 compared to $2,721,520 in 2008, a 13% increase, due to the increased strength in the U.S. dollar. Net loss from continuing operations was $100,408 or $0.01 per share versus net income from continuing operations of $102,495 or $0.01 per share in 2008. Net loss was $100,408 or $0.01 per share compared to net income of $409,217 or $0.04 in 2008. For the six months, the company reported revenue of $6,266,392, an increase of 18% compared to $5,295,763 last year, as a result of the strengthening U.S. dollar. Income from continuing operations was $188,485 or $0.02 per share compared to income from continuing operations of $47,201 or $0.00 per share in the previous year. Net income was $188,485 or $0.02 per share compared to $305,020 or $0.03 per share last year.

Seamiles Limited reported unaudited consolidated cash flow results for the second quarter and six months ended June 30, 2009. For the quarter, the company reported cash used in operating activities was CAD 82,906 and capital spend on purchase of property and equipment was CAD 2,645 compared to cash used in operating activities of CAD 1,372,285 and capital spend on purchase of property and equipment of CAD 9,234 for the same period a year ago. For six months, the company reported cash used in operating activities was CAD 626,509 and capital spend on purchase of property and equipment was CAD 52,645 compared to cash used in operating activities of CAD 45,993 and capital spend on purchase of property and equipment of CAD 18,775 for the same period a year ago.

SeaMiles Limited announced that Carnival Cruise Lines has informed the Company that it does not wish to renew the co-branded credit card agreement dated November 24, 2004 between the Company, Carnival and Barclays Bank Delaware upon the expiry of the Agreement in December, 2009. The Company and Carnival are discussing how the companies can continue to work together as the agreement expires May 2010. At the same time, the Company intends to continue to pursue and develop opportunities through its existing program with Chase involving the SeaMiles Visa Rewards Card.