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Phantom Fiber Retains First Capital Investors for Capital Markets Advisory and Investor Relations

Toronto, Canada – June 5, 2008 – Phantom Fiber Corporation (OTCBB: PHFB) announced today that it has retained First Capital Investors, Inc. to serve as its Capital Markets Advisor and Investor Relations firm.

Phantom Fiber’s CEO, Jeff Halloran, commented, “Phantom Fiber has worked diligently over the past several years in creating industry leading mobile applications. We are well positioned to deliver accelerated future growth via our global leadership position in the mobile application space.” He added, “We believe that utilizing the expertise and resources of First Capital Investors will allow us to effectively communicate our story to our current and future shareholders.”
All analysts, media, institutional and investor questions should be directed to First Capital Investors at 321-221-2910. Additional information regarding Phantom Fiber is available at: http://www.firstcapitalinvestors.com.

About Phantom Fiber Corporation

Phantom Fiber, www.phantomfiber.com, is a leading developer of wireless platform software that enables its customers to deliver high-performance applications across global communications networks to mobile users. Their wireless platform extends the rich multimedia content and user experience of existing Internet web sites securely and instantly to over 1,500 mobile devices, including cellular phones and PDAs. This platform is already deployed to most segments of the global gaming industry and can be used by enterprises seeking to implement high performance mobile applications in such markets as: banking and brokerage applications, remote video surveillance, as well as the logistics and distribution markets.

About First Capital Investors, Inc.

First Capital Investors (“FCI”) is a full service Capital Markets Advisory and Investor Relations firm. FCl focuses primarily on small and micro cap companies seeking professional representation to the investing public. For additional information or to sign up to receive FCI News Alerts, please visit: www.firstcapitalinvestors.com.

Forward-Looking Statements:

In this press release we make "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results or strategies and can often be identified by the use of terminology such as "may," "will," "estimate," "intend," "continue," "believe," "expect," "anticipate," "could," "potential," "opportunity," or similar terminology. These statements are based upon management's current expectations, assumptions and estimates and are not guarantees of future results or performance. Actual outcomes may differ materially from those projected in these statements due to a variety of risks and uncertainties and other factors, including, among other things: competition; material adverse changes in economic and industry conditions in our markets; technological change; retention and renewal of existing contracts; availability and adequacy of cash flow to satisfy obligations and indebtedness or future needs; protection of intellectual property; security and integrity of software and systems; laws and government regulation, including those relating to gaming licenses, permits and operations; seasonality; dependence on suppliers and manufacturers; factors associated with foreign operations; dependence on key personnel; failure to perform on contracts; resolution of pending or future litigation; labor matters; and stock price volatility. Additional information regarding risks and uncertainties and other factors that could cause actual results to differ materially from those contemplated in forward-looking statements is included from time to time in our filings with the SEC, including our most recent Annual Report on Form 10-K. Forward-looking statements speak only as of the date they are made, and except for our ongoing obligations under the U.S. federal securities laws, we undertake no obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise.

For further information, please contact:

Investor Relations:
First Capital Investors, Inc.
phfb@firstcapitalinvestors.com
(321) 221-2910

Source: Phantom Fiber Corporation

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