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            <p style='margin-left:0pt;text-indent:0pt;text-align: justify;margin-top:0pt;margin-bottom:0in'><b><font size=2>As filed with the Securities and Exchange Commission on July
			2, 2007</font></b></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align: justify;margin-top:0pt;margin-bottom:0in'><b><font size=2>Registration No. 333-______</font></b></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>SECURITIES AND EXCHANGE COMMISSION</font></B></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><b><font size=2>Washington, D.C.  20549</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>FORM S-8</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>REGISTRATION STATEMENT</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>UNDER</font></B></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>THE SECURITIES ACT OF 1933</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><u><b><font size=2>PHOTOWORKS, INC.</font></b></u></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><b><font size=2>(Exact Name of Registrant as Specified in Its Charter)</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><u><b><font size=2>Washington</font></b></u></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>(State or Other Jurisdiction</font></b></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><b><font size=2>of Incorporation or Organization)</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><u><b><font size=2>91-0964899</font></b></u></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><b><font size=2>(I.R.S. Employer Identification No.)</font></b></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0in'><u><b><font size=2>71 Columbia Street, Seattle, Washington</font></b></u></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0in'><u><b><font size=2>98104</font></b></u></p> </td> </tr></table>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0in'><b><font size=2>(Address of Principal Executive Offices)</font></b></p> </td>
        <td width="80" nowrap valign=top style='padding:0in 0in 12.0pt 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0in'><b><font size=2>(Zip Code)</font></b></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><U><B><font SIZE=2>PHOTOWORKS, INC. 2005 EQUITY INCENTIVE COMPENSATION PLAN</font></B></U></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><b><font size=2>(Full Title of the Plans)</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Andrew Wood</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>President and Chief Executive Officer </font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>PhotoWorks, Inc.</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>71 Columbia Street</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><u><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><b><font size=2>Seattle, Washington 98104       </font></b></u><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><b><font size=2>(Name and Address of Agent for Service)</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><u><b><font size=2>(206) 281-1390</font></b></u></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><b><font size=2>(Telephone Number, Including Area Code, of Agent for Service)</font></b></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>CALCULATION OF REGISTRATION FEE</font></B></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:4.5pt;margin-bottom:12pt'><font size=1>&nbsp;</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:2.7pt'><b><font size=2>Title of</font></b><br> <b><font size=2>Securities</font></b><br> <b><font size=2>To Be Registered</font></b></p> </td>
        <td width="147" valign=top style='border-top:double black 2.25pt; border-left:solid black 1.0pt;border-bottom:none;border-right:none;  padding:0in 6.0pt 0in 6.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:4.5pt;margin-bottom:12pt'><font size=1>&nbsp;</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:2.7pt'><br> <b><font size=2>Amount To Be</font></b><br> <b><font size=2>Registered</font></b></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:2.7pt'><font size=1>&nbsp;</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:2.7pt'><b><font size=2>Proposed Maximum</font></b><br> <b><font size=2>Offering Price</font></b><br> <b><font size=2>Per Share</font></b></p> </td>
        <td width="147" valign=top style='border-top:double black 2.25pt; border-left:solid black 1.0pt;border-bottom:none;border-right:none;  padding:0in 6.0pt 0in 6.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:2.7pt'><font size=1>&nbsp;</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:2.7pt'><b><font size=2>Proposed</font></b><br> <b><font size=2>Maximum</font></b><br> <b><font size=2>Aggregate</font></b><br> <b><font size=2>Offering Price</font></b></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:2.7pt'><font size=1>&nbsp;</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:2.7pt'><br> <b><font size=2>Amount of</font></b><br> <b><font size=2>Registration</font></b><br> <b><font size=2>Fee</font></b></p> </td> </tr>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:2.7pt'><b><font size=2>common stock,</font></b><br> <b><font size=2>par value $0.01</font></b></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:2.7pt'><b><font size=2>Total</font></b></p> </td>
        <td width="147" valign=top style='border-top:solid black 1.0pt; border-left:solid black 1.0pt;border-bottom:double black 2.25pt; border-right:none; padding:0in 6.0pt 0in 6.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:2.7pt'><b><font size=2>4,000,000 shares</font></b></p> </td>
        <td width="147" valign=top style='border-top:solid black 1.0pt; border-left:solid black 1.0pt;border-bottom:double black 2.25pt; border-right:none; padding:0in 6.0pt 0in 6.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:2.7pt'><b><font size=2>$.47 (1)</font></b></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:2.7pt'><b><font size=2>$.29 ( 2)</font></b></p> </td>
        <td width="147" valign=top style='border-top:solid black 1.0pt; border-left:solid black 1.0pt;border-bottom:double black 2.25pt; border-right:none; padding:0in 6.0pt 0in 6.0pt'>
            <p style='margin-left:0pt;text-indent:4.5pt;text-align:left;margin-top:0pt;margin-bottom:2.7pt'><b><font size=2>$1,718,093 (1)</font></b></p>
<p style='margin-left:0pt;text-indent:4.5pt;text-align:left;margin-top:0pt;margin-bottom:2.7pt'><u><b><font size=2>$   106,259</font></b></u><b><font size=2>(2)</font></b></p>
<p style='margin-left:0pt;text-indent:4.5pt;text-align:left;margin-top:0pt;margin-bottom:2.7pt'><b><font size=2>$1,824,352    </font></b></p> </td>
        <td width="147" valign=top style='border-top:solid black 1.0pt; border-left:solid black 1.0pt;border-bottom:double black 2.25pt; border-right:none; padding:0in 6.0pt 0in 6.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:2.7pt'><b><font size=2>$56.01</font></b></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:left;'><b><font size=2>(1) 3,633,591 options have been granted under the Plan at the date hereof.  The weighted average exercise price of the outstanding options is $.47  The proposed maximum aggregate offering price for those shares is determined in accordance with Rule 457(h)(i) under the Securities Act of 1933, as amended (the &#147;Act&#148;) based on the exercise price of the options. </font></b></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:left;'><b><font size=2>(3) For the remaining 366,409 shares that have not been granted under the Plan, the proposed maximum aggregate offering price is determined in accordance with Rule 457(h)(i) under the Act based on the price of the outstanding shares of common stock as of June 29, 2007 as determined in accordance with Rule 457(c) under the Act..</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>PART II</font></B></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</font></B></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:left;'><b><font size=2>Item 3.  Incorporation of Documents by Reference.</font></b></p>

<p style=' margin-bottom:13pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>The following documents filed by Seattle FilmWorks, Inc. (the &#147;Registrant&#148;) with the Securities and Exchange Commission (the &#147;Commission&#148;) are incorporated by reference in this Registration Statement:</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0in'><font size=2>(a)</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0in'><font size=2>Annual Report on Form 10-KSB for the year ended September 30, 2006;</font></p> </td> </tr></table>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0in'><font size=2>(b)</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0in'><font size=2>Quarterly Reports on Form 10Q-SB for the quarters ended December 31, 2006 and March 31, 2007;</font></p> </td> </tr></table>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0in'><font size=2>(c)</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0in'><font size=2>Current Reports on Form 8-K dated October 10, 2006; November 7, 2006; February 20, 2007; April 27, 2007; and May 10, 2007; and</font></p> </td> </tr></table>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0in'><font size=2>(d)</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0in'><font size=2>The description of the Registrant&#146;s Common Stock contained in its Registration Statement on Form 8-A filed with the Commission on January 27, 1987, as amended by the Registrant&#146;s Form 8-A/A filed with the Commission on May 31, 1996 and any amendments or reports filed for the purpose of updating these descriptions.</font></p> </td> </tr></table>
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<p style=' margin-bottom:13pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>All documents subsequently filed by the Registrant pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act of 1934, as amended, prior to the filing of a post-effective amendment which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference herein and to be part hereof from the date of filing of such documents.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:left;'><b><font size=2>Item 4.  Description of Securities.</font></b></p>

<p style=' margin-bottom:13pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>Not Applicable</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:left;'><b><font size=2>Item 5.  Interests of Named Experts and Counsel.</font></b></p>

<p style=' margin-bottom:13pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>None</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:left;'><b><font size=2>Item 6.  Indemnification of Directors and Officers.</font></b></p>

<p style=' margin-bottom:13pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>Section 23B.08.320 of the Washington Business Corporations Act (the &#147;WBCA&#148;) permits a corporation to limit its directors&#146; liability to the corporation or its shareholders for monetary damages for acts or omissions as a director, except for (a) acts or omissions involving intentional misconduct or a knowing violation of law, (b) certain unlawful distributions or loans in violation of Section 23B.08.310 of the Revised Code of Washington, or (c) transactions whereby the director received an improper personal benefit.  Article XI of the Registrant&#146;s Third Amended and Restated Articles of Incorporation contains provisions limiting the liability of Registrant&#146;s directors to the Registrant or its shareholders to the fullest extent permitted by Washington law.</font></p>

<p style=' margin-bottom:13pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>Sections 23B.08.500 through 23B.08.600 of the WBCA authorize a corporation to indemnify its directors, officers, employees and agents against certain liabilities they may incur in such capacities, including liabilities arising under the Securities Act of 1933, as amended (the &#147;Securities Act&#148;) provided they acted in good faith and in a manner reasonably believed to be in or not opposed to the best interests of the corporation.  Article IX of the Registrant&#146;s Amended and Restated Bylaws requires the Registrant to indemnify its directors, officers, employees and other agents to the fullest extent permitted by Washington law.</font></p>

<p style=' margin-bottom:13pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>The above discussion of the WBCA and the Registrant&#146;s Amended and Restated Bylaws and Third Amended and Restated Articles of Incorporation is not intended to be exhaustive and is qualified in its entirety by </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><font size=2>2</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:13pt; margin-top:0pt;text-align:left;'><font size=2>reference to such statute, the Amended and Restated Bylaws and the Third Amended and Restated Articles of Incorporation, respectively.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:left;'><b><font size=2>Item 7.  Exemption from Registration Claimed.</font></b></p>

<p style=' margin-bottom:13pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>Not Applicable</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><b><font size=2>Item 8.  Exhibits.</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><u><font size=2>Exhibit Number</font></u></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><u><font size=2>Exhibit</font></u></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:12pt'><font size=2>&nbsp;&nbsp;&nbsp; 4.1</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><font size=2>PhotoWorks, Inc. 2005 Equity Incentive Compensation Plan. (Incorporated by reference to Appendix A to the Company's definitive proxy statement for the annual meeting of shareholders held on June 28, 2005)</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:12pt'><font size=2>&nbsp;&nbsp;&nbsp; 5.1</font></p> </td>
        <td width="417" valign=top style='padding:0in .25in 0in .25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><font size=2>Opinion of Heller Ehrman  LLP.</font></p> </td>
	</tr>
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        <td width="83" valign=top style='padding:0in .25in 0in .25in'>
            <p style='margin-left:0pt;text-indent:27.0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'>
			<font size=2>23.1</font></p> </td>
        <td width="417" valign=top style='padding:0in .25in 0in .25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><font size=2>Consent of Heller Ehrman  LLP(Included in its opinion filed as Exhibit 5.1).</font></p> </td>
	</tr>
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        <td width="83" valign=top style='padding:0in .25in 0in .25in'>
            <p style='margin-left:0pt;text-indent:27.0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'>
			<font size=2>23.2</font></p> </td>
        <td width="417" valign=top style='padding:0in .25in 0in .25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><font size=2>Consent of Williams &amp; Webster, P.S., Independent Registered Public Accounting Firm.</font></p> </td>
	</tr>
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        <td width="83" valign=top style='padding:0in .25in 0in .25in'>
            <p style='margin-left:0pt;text-indent:30.75pt;text-align:left;margin-top:0pt;margin-bottom:12pt'>
			<font size=2>24  </font></p> </td>
        <td width="417" valign=top style='padding:0in .25in 0in .25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><font size=2>Power of Attorney (Included on the signature page of this Registration Statement).</font></p> </td>
	</tr></table>
</div>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:left;'><b><font size=2>Item 9.  Undertakings.</font></b></p>


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        <td width="48" nowrap valign=top style='padding:0in 0in 12.0pt 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" nowrap valign=top style='padding:0in 0in 12.0pt 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0in'><font size=2>(a)</font></p> </td>
        <td width="272" nowrap valign=top style='padding:0in 0in 12.0pt 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0in'><font size=2>The undersigned Registrant hereby undertakes:</font></p> </td> </tr></table>
</div>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:0.85in;text-align:left;'><font size=2>(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:1.27in;text-align:left;'><font size=2>(i)</font><font size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>To include any prospectus required by section 10(a)(3) of the Securities Act of 1933;</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:1.27in;text-align:left;'><font size=2>(ii)&nbsp;To reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement;</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:1.27in;text-align:left;'><font size=2>(iii)To include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration Statement;</font></p>

<p style=' margin-bottom:13pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><i><font size=2>Provided, however,</font></i><font size=2> that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed by the Registrant pursuant to Section&nbsp;13 or Section&nbsp;15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in this Registration Statement.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:0.85in;text-align:left;'><font size=2>(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><font size=2>3</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:0.85in;text-align:left;'><font size=2>(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:0.85in;text-align:left;'><font size=2>4)&nbsp;That, for the purpose of determining liability under the Securities Act to any purchaser: each prospectus filed pursuant to Rule 424(b) as part of a registration statement relating to an offering, other than registration statements relying on Rule 430B or other than prospectuses filed in reliance on Rule 430A, shall be deemed to be part of and included in the registration statement as of the date it is first used after effectiveness; provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such first use, supersede or modify any statement that was made in the registration statement or
prospectus that was part of the registration statement or made in any such document immediately prior to such date of first use; and</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:0.85in;text-align:left;'><font size=2>(5)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;That, for the purpose of determining liability of the Registrant under the Securities Act to any purchaser in the initial distribution of the securities: the Registrant undertakes that in a primary offering of securities of the Registrant pursuant to this Registration Statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the Registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:1in; text-indent:0.44in;text-align:left;'><font size=2>(i)   any preliminary prospectus or prospectus of the Registrant relating to the offering required to be filed pursuant to Rule 424;</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:1in; text-indent:0.44in;text-align:left;'><font size=2>(ii)  any free writing prospectus relating to the offering prepared by or on behalf of the Registrant or used or referred to by the Registrant;</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:1in; text-indent:0.44in;text-align:left;'><font size=2>(iii)   the portion of any other free writing prospectus relating to the offering containing material information about the Registrant or its securities provided by or on behalf of the Registrant; and</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:1in; text-indent:0.44in;text-align:left;'><font size=2>(iv)   any other communication that is an offer in the offering made by the Registrant to the purchaser.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:0.44in;text-align:left;'><font size=2>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the Registrant&#146;s annual report pursuant to Section 13(a) or Section&nbsp;15(d) of the Securities Exchange Act of 1934 that is incorporated by reference in the Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:0.44in;text-align:left;'><font size=2>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable.  In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion
of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question of whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><font size=2>4</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'>
<b><font size=2>Signatures</font></b></p>

<p style=' margin-bottom:13pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><u><font size=2>The Registrant</font></u><font size=2>.  Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Seattle, State of Washington, on this 28th day of June, 2007.</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><font size=1>&nbsp;</font></p> </td>
        <td width="153" nowrap valign=top style='padding:0in 0in 12.0pt 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0in'><B><font SIZE=2>PHOTOWORKS, INC.</font></B></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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        <td width="336" nowrap valign=top style="border-style: none; border-width: medium" >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom: 0in'><font size=1>&nbsp;</font></p> </td>
        <td width="124" nowrap valign=top style='border-right:medium none black; border-top:medium none black; border-bottom:medium none black; border-left:medium none; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0in'><font size=2>By:</font><u><font size=2>/s/  Andy Wood</font></u></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:3.5in; text-indent:0.31in;text-align:left;'><font size=2>Andy Wood, President and Chief </font></p>


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        <td width="365" nowrap valign=top style='border-style:none; border-width:medium; padding-left:0in; padding-right:0in; padding-top:0in; padding-bottom:12.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:12pt'><font size=1>&nbsp;</font></p> </td>
        <td width="115" nowrap valign=top style='border-right:medium none black; border-top:medium none black; border-bottom:medium none black; border-left:medium none; padding-left:0in; padding-right:0in; padding-top:0in; padding-bottom:12.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0in'><font size=2>Executive Officer</font></p> </td> </tr></table>
</div>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><b><font size=2>Power of Attorney</font></b></p>

<p style=' margin-bottom:13pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>Each person whose signature appears below constitutes and appoints Andy Wood and David Douglass, or either of them, his true and lawful attorney-in-fact, with the power of substitution and resubstitution, for him in his name, place or stead, in any and all capacities, to sign any or all amendments to this Registration Statement, and to file the same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, hereby ratifying and confirming all that said attorneys-in-fact and their agents or substitutes, may lawfully do or lawfully cause to be done by virtue hereof.</font></p>

<p style=' margin-bottom:13pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.</font></p>


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            <p style='margin-left:0pt;text-indent:87.75pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><u><font size=2>Signature</font></u></p> </td>
        <td width="312" valign=top style='padding:0in 9.0pt 0in 9.0pt'>
            <p style='margin-left:0pt;text-indent:99.0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><u><font size=2>Title</font></u></p> </td>
        <td width="144" valign=top style='padding:0in 9.0pt 0in 9.0pt'>
            <p style='margin-left:0pt;text-indent:35.25pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><u><font size=2>Date</font></u></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="192" valign=top style='padding:0in 9.0pt 0in 9.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><u><font size=2>/s/  Andy Wood</font></u><br> <font size=2>Andy Wood</font></p> </td>
        <td width="312" valign=top style='padding:0in 9.0pt 0in 9.0pt'>
            <p style='margin-left:.5in;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><font size=2>President, Chief Executive Officer and Director (Principal Executive Officer)</font></p> </td>
        <td width="144" valign=top style='padding:0in 9.0pt 0in 9.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><font size=2>June 28, 2007</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="192" valign=top style='padding:0in 9.0pt 0in 9.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><u><font size=2>/s/ David Douglass</font></u><br> <font size=2>David Douglass</font><u></u></p> </td>
        <td width="312" valign=top style='padding:0in 9.0pt 0in 9.0pt'>
            <p style='margin-left:.5in;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><font size=2>Chief Financial Officer (Principal Financial and Accounting Officer)</font></p> </td>
        <td width="144" valign=top style='padding:0in 9.0pt 0in 9.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><font size=2>June 28, 2007</font></p> </td> </tr>
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        <td width="192" valign=top style='padding:0in 9.0pt 0in 9.0pt'>
            <p style='margin-left:0pt;text-indent:1.75in;text-align:left;margin-top:0pt;margin-bottom:12pt'><br> <font size=2>Paul Goodrich</font><u></u></p> </td>
        <td width="312" valign=top style='padding:0in 9.0pt 0in 9.0pt'>
            <p style='margin-left:.5in;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><font size=2>Director</font></p> </td>
        <td width="144" valign=top style='padding:0in 9.0pt 0in 9.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><font size=2>June __, 2007</font></p> </td> </tr>
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        <td width="192" valign=top style='padding:0in 9.0pt 0in 9.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><u><font size=2>/s/ Edward Holl</font></u><br> <font size=2>Edward Holl</font><u></u></p> </td>
        <td width="312" valign=top style='padding:0in 9.0pt 0in 9.0pt'>
            <p style='margin-left:.5in;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><font size=2>Director</font></p> </td>
        <td width="144" valign=top style='padding:0in 9.0pt 0in 9.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><font size=2>June 28, 2007</font></p> </td> </tr>
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        <td width="192" valign=top style='padding:0in 9.0pt 0in 9.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><u><font size=2>/s/ Mark Kalow</font></u><br> <font size=2>Mark Kalow</font></p> </td>
        <td width="312" valign=top style='padding:0in 9.0pt 0in 9.0pt'>
            <p style='margin-left:0pt;text-indent:.5in;text-align:left;margin-top:0pt;margin-bottom:12pt'><font size=2>Director</font></p> </td>
        <td width="144" valign=top style='padding:0in 9.0pt 0in 9.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><font size=2>June 28, 2007</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="192" valign=top style='padding:0in 9.0pt 0in 9.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><u><font size=2>/s/ Joseph Waechter</font></u><br> <font size=2>Joseph Waechter</font></p> </td>
        <td width="312" valign=top style='padding:0in 9.0pt 0in 9.0pt'>
            <p style='margin-left:0pt;text-indent:.5in;text-align:left;margin-top:0pt;margin-bottom:12pt'><font size=2>Director </font></p> </td>
        <td width="144" valign=top style='padding:0in 9.0pt 0in 9.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><font size=2>June 28, 2007</font></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><font size=2>5</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:20pt; margin-top:0pt;text-align:center;'>
<U><B><font SIZE=2>EXHIBIT INDEX</font></B></U></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><u><font size=2>Exhibit Number</font></u></p> </td>
        <td width="422" valign=top style='padding:0in .25in 0in .25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><u><font size=2>Exhibit</font></u></p> </td>
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        <td width="88" valign=top style='padding:0in .25in 0in .25in'>
            <p style='margin-left:0pt;text-indent:30.0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><font size=2>&nbsp; 4.1</font></p> </td>
        <td width="422" valign=top style='padding:0in .25in 0in .25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><font size=2>PhotoWorks, Inc. 2005 Equity Incentive Compensation Plan (Incorporated by reference  to Appendix A to the Company's definitive proxy statement for the annual meeting of shareholders held on June 28, 2005)</font></p> </td>
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        <td width="88" valign=top style='padding:0in .25in 0in .25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:12pt'><font size=2>&nbsp;&nbsp;&nbsp; 5.1</font></p> </td>
        <td width="422" valign=top style='padding:0in .25in 0in .25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><font size=2>Opinion of Heller Ehrman  LLP</font></p> </td>
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        <td width="88" valign=top style='padding:0in .25in 0in .25in'>
            <p style='margin-left:0pt;text-indent:27.0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><font size=2>23.1</font></p> </td>
        <td width="422" valign=top style='padding:0in .25in 0in .25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><font size=2>Consent of Heller Ehrman  LLP (Included in its opinion filed as Exhibit 5.1)</font></p> </td>
	</tr>
    <tr >
        <td width="88" valign=top style='padding:0in .25in 0in .25in'>
            <p style='margin-left:0pt;text-indent:27.0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><font size=2>23.2</font></p> </td>
        <td width="422" valign=top style='padding:0in .25in 0in .25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><font size=2>Consent of Williams &amp; Webster, P.S., Independent Registered Public Accounting Firm</font></p> </td>
	</tr>
    <tr >
        <td width="88" valign=top style='padding:0in .25in 0in .25in'>
            <p style='margin-left:0pt;text-indent:30.75pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><font size=2>24  </font></p> </td>
        <td width="422" valign=top style='padding:0in .25in 0in .25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><font size=2>Power of Attorney (Included on the signature page of this Registration Statement)</font></p> </td>
	</tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:12pt; margin-top:24pt;text-align:left;'><font size=1>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><font size=2>6</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>



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[{"type": "S-8", "sequence": "1", "filename": "photos8regstmt2005plan.htm", "secsgml_size_bytes": 48460}]
{"company-data": {"conformed-name": "PHOTOWORKS INC /WA", "cik": "0000791050", "assigned-sic": "7384", "irs-number": "910964899", "state-of-incorporation": "WA", "fiscal-year-end": "0906"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-144267", "film-number": "07954509"}, "business-address": {"street1": "1260 16TH AVE WEST", "city": "SEATTLE", "state": "WA", "zip": "98119", "phone": "2062811390"}, "mail-address": {"street1": "1260 16TH AVENUE WEST", "city": "SEATTLE", "state": "WA", "zip": "98119"}, "former-company": [{"former-conformed-name": "SEATTLE FILMWORKS INC", "date-changed": "19920703"}, {"former-conformed-name": "AMERICAN PASSAGE MARKETING CORP", "date-changed": "19890320"}]}
As filed with the Securities and Exchange Commission on July
			2, 2007
Registration No. 333-______
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
PHOTOWORKS, INC.
(Exact Name of Registrant as Specified in Its Charter)
Washington
(State or Other Jurisdiction
of Incorporation or Organization)
91-0964899
(I.R.S. Employer Identification No.)
71 Columbia Street, Seattle, Washington
98104
(Address of Principal Executive Offices)
(Zip Code)
PHOTOWORKS, INC. 2005 EQUITY INCENTIVE COMPENSATION PLAN
(Full Title of the Plans)
Andrew Wood
President and Chief Executive Officer
PhotoWorks, Inc.
71 Columbia Street
Seattle, Washington 98104
(Name and Address of Agent for Service)
(206) 281-1390
(Telephone Number, Including Area Code, of Agent for Service)
CALCULATION OF REGISTRATION FEE
Title of
Securities
To Be Registered
Amount To Be
Registered
Proposed Maximum
Offering Price
Per Share
Proposed
Maximum
Aggregate
Offering Price
Amount of
Registration
Fee
common stock,
par value $0.01
Total
4,000,000 shares
$.47 (1)
$.29 ( 2)
$1,718,093 (1)
$   106,259
(2)
$1,824,352
$56.01
(1) 3,633,591 options have been granted under the Plan at the date hereof.  The weighted average exercise price of the outstanding options is $.47  The proposed maximum aggregate offering price for those shares is determined in accordance with Rule 457(h)(i) under the Securities Act of 1933, as amended (the "Act") based on the exercise price of the options.
(3) For the remaining 366,409 shares that have not been granted under the Plan, the proposed maximum aggregate offering price is determined in accordance with Rule 457(h)(i) under the Act based on the price of the outstanding shares of common stock as of June 29, 2007 as determined in accordance with Rule 457(c) under the Act..
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3.  Incorporation of Documents by Reference.
The following documents filed by Seattle FilmWorks, Inc. (the "Registrant") with the Securities and Exchange Commission (the "Commission") are incorporated by reference in this Registration Statement:
(a)
Annual Report on Form 10-KSB for the year ended September 30, 2006;
(b)
Quarterly Reports on Form 10Q-SB for the quarters ended December 31, 2006 and March 31, 2007;
(c)
Current Reports on Form 8-K dated October 10, 2006; November 7, 2006; February 20, 2007; April 27, 2007; and May 10, 2007; and
(d)
The description of the Registrant's Common Stock contained in its Registration Statement on Form 8-A filed with the Commission on January 27, 1987, as amended by the Registrant's Form 8-A/A filed with the Commission on May 31, 1996 and any amendments or reports filed for the purpose of updating these descriptions.
All documents subsequently filed by the Registrant pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act of 1934, as amended, prior to the filing of a post-effective amendment which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference herein and to be part hereof from the date of filing of such documents.
Item 4.  Description of Securities.
Not Applicable
Item 5.  Interests of Named Experts and Counsel.
None
Item 6.  Indemnification of Directors and Officers.
Section 23B.08.320 of the Washington Business Corporations Act (the "WBCA") permits a corporation to limit its directors' liability to the corporation or its shareholders for monetary damages for acts or omissions as a director, except for (a) acts or omissions involving intentional misconduct or a knowing violation of law, (b) certain unlawful distributions or loans in violation of Section 23B.08.310 of the Revised Code of Washington, or (c) transactions whereby the director received an improper personal benefit.  Article XI of the Registrant's Third Amended and Restated Articles of Incorporation contains provisions limiting the liability of Registrant's directors to the Registrant or its shareholders to the fullest extent permitted by Washington law.
Sections 23B.08.500 through 23B.08.600 of the WBCA authorize a corporation to indemnify its directors, officers, employees and agents against certain liabilities they may incur in such capacities, including liabilities arising under the Securities Act of 1933, as amended (the "Securities Act") provided they acted in good faith and in a manner reasonably believed to be in or not opposed to the best interests of the corporation.  Article IX of the Registrant's Amended and Restated Bylaws requires the Registrant to indemnify its directors, officers, employees and other agents to the fullest extent permitted by Washington law.
The above discussion of the WBCA and the Registrant's Amended and Restated Bylaws and Third Amended and Restated Articles of Incorporation is not intended to be exhaustive and is qualified in its entirety by
2
reference to such statute, the Amended and Restated Bylaws and the Third Amended and Restated Articles of Incorporation, respectively.
Item 7.  Exemption from Registration Claimed.
Not Applicable
Item 8.  Exhibits.
Exhibit Number
Exhibit
4.1
PhotoWorks, Inc. 2005 Equity Incentive Compensation Plan. (Incorporated by reference to Appendix A to the Company's definitive proxy statement for the annual meeting of shareholders held on June 28, 2005)
5.1
Opinion of Heller Ehrman  LLP.
23.1
Consent of Heller Ehrman  LLP(Included in its opinion filed as Exhibit 5.1).
23.2
Consent of Williams & Webster, P.S., Independent Registered Public Accounting Firm.
24
Power of Attorney (Included on the signature page of this Registration Statement).
Item 9.  Undertakings.
(a)
The undersigned Registrant hereby undertakes:
(1)            To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:
(i)
To include any prospectus required by section 10(a)(3) of the Securities Act of 1933;
(ii) To reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement;
(iii)To include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration Statement;
Provided, however,
that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed by the Registrant pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in this Registration Statement.
(2)            That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
3
(3)            To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
4) That, for the purpose of determining liability under the Securities Act to any purchaser: each prospectus filed pursuant to Rule 424(b) as part of a registration statement relating to an offering, other than registration statements relying on Rule 430B or other than prospectuses filed in reliance on Rule 430A, shall be deemed to be part of and included in the registration statement as of the date it is first used after effectiveness; provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such first use, supersede or modify any statement that was made in the registration statement or
prospectus that was part of the registration statement or made in any such document immediately prior to such date of first use; and
(5)            That, for the purpose of determining liability of the Registrant under the Securities Act to any purchaser in the initial distribution of the securities: the Registrant undertakes that in a primary offering of securities of the Registrant pursuant to this Registration Statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the Registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:
(i)   any preliminary prospectus or prospectus of the Registrant relating to the offering required to be filed pursuant to Rule 424;
(ii)  any free writing prospectus relating to the offering prepared by or on behalf of the Registrant or used or referred to by the Registrant;
(iii)   the portion of any other free writing prospectus relating to the offering containing material information about the Registrant or its securities provided by or on behalf of the Registrant; and
(iv)   any other communication that is an offer in the offering made by the Registrant to the purchaser.
(b)          The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the Registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 that is incorporated by reference in the Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
(c)          Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable.  In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion
of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question of whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.
4
Signatures
The Registrant
.  Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Seattle, State of Washington, on this 28th day of June, 2007.
PHOTOWORKS, INC.
By:
/s/  Andy Wood
Andy Wood, President and Chief
Executive Officer
Power of Attorney
Each person whose signature appears below constitutes and appoints Andy Wood and David Douglass, or either of them, his true and lawful attorney-in-fact, with the power of substitution and resubstitution, for him in his name, place or stead, in any and all capacities, to sign any or all amendments to this Registration Statement, and to file the same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, hereby ratifying and confirming all that said attorneys-in-fact and their agents or substitutes, may lawfully do or lawfully cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.
Signature
Title
Date
/s/  Andy Wood
Andy Wood
President, Chief Executive Officer and Director (Principal Executive Officer)
June 28, 2007
/s/ David Douglass
David Douglass
Chief Financial Officer (Principal Financial and Accounting Officer)
June 28, 2007
Paul Goodrich
Director
June __, 2007
/s/ Edward Holl
Edward Holl
Director
June 28, 2007
/s/ Mark Kalow
Mark Kalow
Director
June 28, 2007
/s/ Joseph Waechter
Joseph Waechter
Director
June 28, 2007
5
EXHIBIT INDEX
Exhibit Number
Exhibit
4.1
PhotoWorks, Inc. 2005 Equity Incentive Compensation Plan (Incorporated by reference  to Appendix A to the Company's definitive proxy statement for the annual meeting of shareholders held on June 28, 2005)
5.1
Opinion of Heller Ehrman  LLP
23.1
Consent of Heller Ehrman  LLP (Included in its opinion filed as Exhibit 5.1)
23.2
Consent of Williams & Webster, P.S., Independent Registered Public Accounting Firm
24
Power of Attorney (Included on the signature page of this Registration Statement)
6