MediaSite, Inc. Named "Most Likely to Receive Venture Funding" at Early Stage East

Pittsburgh, PA—July 2, 1998—MediaSite, Inc., the leading developer and supplier of integrated solutions for constructing and using network-based, searchable digital video libraries, was recognized as "The Company Most Likely to Receive Venture Funding" at Early Stage East, a premier venture capital showcase of the "best of the best" early stage companies from the eastern United States. The event was held in Wilmington, Del., on June 8 and 9, and attracted more than 350 attendees, including representatives from banks, venture capital firms and other financial institutions. Over 200 companies applied to present and 24 were selected.

"The award is given by a panel of regional venture capitalists to the company that presents the most compelling concept and business opportunity, and is most deserving of great attention by funders," according to David J. Freschman, host chairman for the event and president of Delaware Innovation Fund. Previous winners of this award include Raptor Systems, Inc., a Boston-based Internet firewall company that completed an initial public offering (IPO) in 1996.

Added the staff of TechCapital in the June/July issue, "Judges deemed the best presenting company to be MediaSite of Pittsburgh. TechCapital would add to that the Coolest Product Award."

"To be chosen among a highly select group of companies at one of the most prestigious venture capital conferences in the country is a tremendous honor," commented MediaSite president and CEO Mark Juliano. "Thus far, we have been fortunate to secure two rounds of private funding, for more than $2 million, and believe Early Stage East will springboard us on our current quest for $5 million of venture capital." He added, "We believe this award represents a vote of confidence for the strength of our technology in the marketplace."

The Market for Media Asset Management Solutions
The broad market of media asset management solutions, which includes tools for managing video, audio, images, and text, is one of today’s fastest growing technology market segments. The MediaSite System focuses specifically on the management of video and audio assets. Currently, most video exists in analog format or as rudimentary digital archives with limited retrieval capabilities.

With widely available technology including multimedia-enabled PCs, video compression and networked computers, organizations can now build a repository of thoroughly cataloged analog or digital video information. The market for media asset management reached over $507 million in 1997 and is expected to grow to $3.2 billion by the year 2001, according to GISTICS Incorporated, a research firm based in San Anselmo, Calif.

About the MediaSite System
The MediaSite System includes real-time video cataloging with MediaSite Logger (TM), Full-Media Indexing (TM) of archived video with MediaSite Builder (TM), and PC- or Web-based search and retrieval with MediaSite Finder (TM).

With MediaSite, video can be effectively used in applications across a variety of industries. For example: news broadcasters can quickly find existing video clips, increasing their quality and depth of programming; film production houses can easily locate archived video, increasing productivity; stock footage companies can sell content over the Internet, increasing their revenues and customer base; and corporations and government agencies can provide video-based training across computer networks to all employees, saving time and enhancing the quality of learning. No other system on the market today can deliver faster, easier, or more precise access to the video resources of an organization.

About  MediaSite
MediaSite, Inc. is the leading developer of software, systems and services to create searchable video and audio Media Sites. MediaSite operates a Web site (www.mediasite.net) and builds customized Media Sites, which offer searchable video with e-commerce purchasing. MediaSite also offers the MediaSite System (TM), a core set of software, systems and services required to develop a superior Media Site. With the MediaSite System, video becomes as searchable as text. The unique feature of MediaSite technical approach is the integrated application of speech recognition, language understanding and image understanding technologies based on software components of Carnegie Mellon University's Informedia Digital Video Library Project, an $8 million public-private sponsored research project. For more information, visit www.mediasite.com.