ZAIO Corporation

TSX Venture Exchange Symbol: ZAO

CALGARY , Nov. 2 /CNW/ - Zaio Corporation (TSX-V ZAO) ("Zaio" or the "Company") announces that it has closed the transaction announced on September 15, 2009 to convert debts owed by the Company to arm's length third parties (the "Creditors") in exchange for common shares of the Company (the "Debt Shares"). The Debt Shares were exchanged for debts in the aggregate amount of $268,417.61 , all in accordance with the terms of settlement agreements with the respective Creditors. Each of the debts had been previously reported on the financial statements of Zaio. To convert the debts the Company issued an aggregate of 1,849,801 Debt Shares at the following prices per Debt Share:

    
          ---------------------------------------------------------
           Canadian Dollar   Price per Debt Share   Number of Debt
             Debt Amount                            Shares Issued
          ---------------------------------------------------------
              $56,184.98             $0.124             453,105
          ---------------------------------------------------------
             $102,044.94             $0.140             728,892
          ---------------------------------------------------------
             $110,187.69             $0.165             667,804
          ---------------------------------------------------------
    

The Debt Shares are subject to a four month hold period.

Zaio is a company listed and trading on the TSX Venture Exchange, symbol: ZAO.

About Zaio

Zaio develops and maintains a site-verified database of photos, valuations and property information of virtually every property in entire cities, using a proprietary "GeoScore" property rating system. Zaio and its network of premiere, local appraiser experts photograph and appraise entire cities, one building at a time from the street. Zaio is a public Company that trades under the symbol "ZAO" on the TSX Venture Exchange in Canada . Zaio shares are also available in the U.S. under the trading symbol "ZAOFF". For more company information, visit www.zaio.com.

This news release contains forward-looking statements which may include financial and business prospects, as well as statements regarding the Company's future plans, objectives or economic performance and financial outlooks. Such statements are subject to risk factors associated with the real estate industry, and the overall economy in both Canada and the United States . The Company believes that the expectations reflected in this news release are reasonable but actual results may be affected by a variety of variables and may be materially different from the results or events predicted in the forward-looking statements. Readers are therefore cautioned not to place undue reliance on these forward-looking statements.

In evaluating forward-looking statements readers should consider the risk factors which could cause actual results or events to differ materially from those indicated by such forward-looking statements. These forward-looking statements are made as of the date hereof, and unless otherwise required by applicable securities laws, the Company does not intend nor does it undertake any obligation to update or revise any forward-looking statements.

    
    Neither TSX Venture Exchange nor its Regulation Services Provider (as
    that term is defined in the policies of the TSX Venture Exchange) accepts
    responsibility for the adequacy or accuracy of this release.
    

For further information: Bradley Stinson, CEO, [phone]; Rodney Mitton, CFO, [phone]