SCHEDULE 13G
CUSIP NO. 71940B208                                            PAGE 9 OF 9 PAGES


Exhibit I

                             JOINT FILING AGREEMENT

     This will confirm the agreement by and among the undersigned that the
Schedule 13G filed with the Securities and Exchange Commission on or about the
date hereof with respect to the beneficial ownership by the undersigned of the
Common Stock, $0.01 par value, of Photoworks, Inc., a Washington corporation, is
being filed, and all amendments thereto will be filed, on behalf of each of the
persons and entities named below in accordance with Rule 13d-1(k) under the
Securities Exchange Act of 1934, as amended. This Agreement may be executed in
two or more counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument.

Dated as of October 18, 2006

                                        ALEXANDRA GLOBAL MASTER FUND LTD.

                                        By: ALEXANDRA INVESTMENT MANAGEMENT,
                                            LLC, its Investment Advisor


                                        By: /s/ Mikhail A. Filimonov
                                            ------------------------------------
                                            Mikhail A. Filimonov
                                        Title: Managing Member


                                        ALEXANDRA INVESTMENT MANAGEMENT, LLC


                                        By: /s/ Mikhail A. Filimonov
                                            ------------------------------------
                                            Mikhail A. Filimonov
                                        Title: Managing Member


                                        /s/ Mikhail A. Filimonov
                                        ----------------------------------------
                                        Mikhail A. Filimonov