MediaSite Named One of Region's Fastest-Growing Technology Companies

- Company Selected from Among Thousands for the "Pittsburgh Technology 50" -

PITTSBURGH, Oct. 20 -- MediaSite, Inc., the Pittsburgh-based pioneer in developing software and applications for converting traditional video into an interactive and searchable medium, was honored tonight by the Pittsburgh Technology Council as one of the 50 fastest-growing technology companies in southwestern Pennsylvania.

The honor came at Pittsburgh Technology 50, an annual award program that recognizes those technology companies in the region that have experienced the greatest revenue growth over the prior three years. MediaSite, which was founded in 1997, grew 746% between that time and 1999.

"We're tremendously honored to receive this most prestigious recognition," said MediaSite President and CEO Vinay Mehra. "When one thinks of all the start-ups that fail to survive for three years, let alone grow by hundreds of percentage points, it is deeply gratifying to know we're among the success stories."

According to Council President and CEO Steven G.Zylstra, preliminary data for the past year "show that the region's technology industries are growing, that they continue to be the engine of our new economy, and that all the companies represented here tonight are the engines."

The 50 companies honored by the Council were selected from among more than 4,200 public and private technology-oriented companies headquartered in the southwestern Pennsylvania counties of Allegheny, Armstrong, Beaver, Bedford, Butler, Cambria, Fayette, Greene, Indiana, Lawrence, Somerset, Westmoreland and Washington.

The criteria for participating companies were that they actively develop, manufacture or utilize advanced technology or technology-based products or function as a value-added reseller of such products. In addition, each entrant company was required to derive at least 50 percent of its revenue from the commercial usage of an advanced proprietary technology product, service or application of such technology. Gross revenues for each entrant were required to be at least $1 million during the measured three-year period between 1997 and 1999.

Since 1983, the Pittsburgh Technology Council has been the principal point of connection for companies from four primary clusters of the technology industry that are represented by a critical mass of businesses in southwestern Pennsylvania: Information Technology, BioMedical Technology, Advanced Manufacturing/Materials and Environmental Technology. The Council helps these companies grow and thrive by offering opportunities for meeting business contacts, guidance on business development, exclusive discounts on business products and services, workforce placement and development initiatives, knowledge-sharing forums and educational programming, publications covering regional business developments and trends, and industry advocacy in state and federal government.

About MediaSite

MediaSite, Inc. is a leading provider of software and services to enhance video production, video asset management and video publishing to the Web. Founded in 1997, the company derives its core technology from research conducted at Carnegie Mellon University's School of Computer Science.

For more information, visit www.mediasite.com.