Mr. Michael Kraft reports

LINGO MEDIA EXTENDS TERM OF LOAN

Lingo Media Corp. has negotiated a one-year extension to the term of the $880,000 loan financing originally completed on Sept. 8, 2010, with a one-year term and extended for further one-year terms on Sept. 8, 2011, Sept. 8, 2012, and Sept. 8, 2013.

The new maturity date of the loan is Sept. 8, 2015, and continues to bear interest at a rate of 9 per cent per annum, payable monthly in arrears, and is secured by a charge over all of Lingo Media's assets and property. Lingo Media may elect to prepay the loan in whole or in part at any time at its sole discretion without penalty.

As additional consideration for the extension of the loan by the lenders, the company will issue to the lenders an aggregate of 600,000 common shares of Lingo Media. The bonus shares are subject to a four-month statutory hold commencing from closing.

The insider participation consisted of three directors who advanced an aggregate of $445,000 and one executive officer who advanced $35,000 in aggregate. It is expected that the loan will be repaid from the company's cash flow and any equity or debt financing completed by the company during the new term of the loan.

We seek Safe Harbor.