Local.com Reports Second Quarter 2007 Financial Results

Irvine, August 6, 2007 — Local.com Corporation (NASDAQ: LOCM), a leading local search engine, today reported its financial results for the second quarter 2007.

“Local.com delivered strong financial results for the second quarter and made considerable progress on our growth strategy. Since our last report, we completed a strategic acquisition, launched our direct mail and outbound telesales channels, released two new ad products for small businesses, and announced two key patents in local Internet and directory assistance search,” said Heath Clarke, CEO, Local.com. “As a result of our recent $13 million financing and the conversion of our debentures, we have no debt and are in the strongest financial position since 2004. In addition, we believe our losses peaked during the second quarter. Excluding non-recurring charges for the debenture conversion, we expect a material improvement in our financial results in the third and fourth quarters.”

Q2 Highlights:

• Revenue – Second quarter of 2007 revenue of $5.1 million was at the high range of guidance. This represented growth of 51% over the second quarter 2006, and growth of 4% over the first quarter 2007.
– Local search revenue was $4.1 million for the second quarter of 2007, up 147% over the second quarter of 2006.

• Net Loss – Second quarter of 2007 net loss of $3.15 million was approximately $150,000, or 5%, better than the best end of our guidance of $3.3 million, and included non-cash expenses of $1.3 million or $0.13 per share. Basic and diluted net loss per share was $0.34.

The non-cash expenses of $1.3 million consisted of depreciation and amortization ($515,000); stock based compensation ($346,000); and interest expense related to the convertible debentures ($452,000).

• Increased Monetization – Revenue per thousand visitors (RKV) was $154, up 170% from $57 in the second quarter of 2006 and up 12% from $137 RKV in the first quarter of 2007.

• Awarded Patent Number 7,231,405 – We were granted patent number 7,231,405, by the U.S. Patent and Trademark Office for the method of indexing and retrieving web-documents using geographical location.

• Awarded Patent Number 7,200,413 – We were granted patent number 7,200,413, by the U.S. Patent and Trademark Office for the method of responding to enhanced directory assistance inquiries using wireless messaging protocols such as SMS, MMS and instant messaging.

• Launched Online Booking Capabilities and Travel Related Content – We added extensive online booking capabilities and travel related content.

• Launched Local Mobile™ – We introduced a new ad-supported mobile search service that allows users to access Local.com from mobile phones and wireless devices.

• Launched Local Verified™ and Local Promote Basic™ – We introduced new advertising programs that offer businesses enhanced listings and preferred placement in Local.com search results.

• Upgraded our Mapping and Site Navigation – We improved our mapping engine and added drill-down search capabilities for our search results page.

• Appointed Kim LaFleur as VP Product Management.

Recent Highlights:

• Completed $13 Million Financing – In August, we announced the sale of 2,356,900 shares of the company’s common stock to two institutional investors in a private placement transaction for $5.50 per share. The gross proceeds of approximately $13 million are expected to be used for acquisitions, to expand direct sales channel development, to protect the company’s growing intellectual property portfolio, and for general working capital.

• Completed acquisition of PremierGuide, Inc, - In July, we acquired one of the largest providers of online business directories to regional media publishers such as newspapers, TV and radio stations, and city portals.

• Converted all outstanding debentures - All outstanding convertible notes were converted into 2.0 million shares of

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