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SEB Closes Financing

TORONTO, ONTARIO -- (Marketwire) -- 12/27/12 -- Smart Employee Benefits Inc. ("SEB") (TSX VENTURE:SEB) is a technology company providing software, solutions and services, specializing in managing group benefit solutions and healthcare claims processing environments for corporate and non-profit clients.

Smart Employee Benefits Inc. is pleased to announce it has completed a private placement consisting of $554,000 in principal amount of convertible notes (the "Notes"). The Notes are convertible into common shares of SEB at a conversion price of $0.45 per common share any time during the period the Notes are outstanding. The Notes can be prepaid by SEB without penalty or bonus at any time after the first anniversary of closing. All securities issued in connection with the private placement are subject to a four month hold period from the date of closing.

Proceeds from the private placement will be used for acquisitions and working capital requirements.

Of the $554,000, the amount of $449,000 was subject to a Finder's Fee arrangement with Canaccord Genuity and Macquarie Private Wealth. Pursuant to this arrangement, cash fees of $22,450 were paid and 99,777 share purchase warrants were issued to the Finders. Each warrant entitles the Holder to acquire one common share of SEB at an exercise price of $0.45 per share for a two year period, post-closing.

Neither TSX Venture Exchange Inc. 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.

Contacts:
Smart Employee Benefits Inc.
John McKimm
Chief Executive Officer
(416) 460-2817
john.mckimm@SEB-inc.com

Smart Employee Benefits Inc.
Shelly Frank
VP Marketing
(416) 637-3486
shelly.frank@SEB-inc.com

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