November 1, 2005 POMPANO BEACH, Fla., Nov. 1 -- Onstream Media Corporation ( OTC: ONSM), a leading online Application Service Provider (ASP) of live and on-demand, rich media communications, today announced a new version of its Digital Media Services Platform (DMSP). The newly enhanced platform provides additional features and functionality developed to satisfy the needs of an already growing number of monthly ASP customers, including: Alcoa Inc.; AXA Equitable Life Insurance Company; KPMG LLP; MediaOne; MultiVu, a PR Newswire company; the U.S. Department of Veteran Affairs as well as industry-leading video communications service providers including Wire One Communications. Clients are already using Onstream Media's DMSP for various business requirements such as employee training, e-learning, customer communications as well as product information distribution. Among the key features included in the latest version of the DMSP are: Onstream Media's DMSP offers many key advantages to users, including elimination of the upfront costs often associated with installations of Digital Asset Management (DAM) software and hardware, a low monthly fee, ease- of-use that allows anyone utilizing a web browser to use the DMSP, and a highly secure environment for content provided by SAIC, one of the country's leading IT data assurance companies. "We are extremely pleased with the reception for our DMSP from our growing list of clients," said Randy Selman, president and chief executive officer of Onstream Media. "The latest upgrade is just the beginning, with additional feature sets to follow that are being developed in response to specific requests from both existing and prospective clients. We expect to add many third party services to the platform, which we believe will serve to further enhance the user experience, attract new customers and positively impact our future financial performance." About Onstream Media Corporation Onstream Media customers include: AOL, AAA, AXA Equitable Life Insurance Company, Disney, MGM, Deutsche Bank, Thomson Financial/CCBN, PR Newswire and the U.S. Government. For more information, visit the Onstream website at http://www.onstreammedia.com or call 954-917-6655. Certain statements in this document and elsewhere by Onstream Media are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such information includes, without limitation, the business outlook, assessment of market conditions, anticipated financial and operating results, strategies, future plans, contingencies and contemplated transactions of the company. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors which may cause or contribute to actual results of company operations, or the performance or achievements of the company or industry results, to differ materially from those expressed, or implied by the forward-looking statements. In addition to any such risks, uncertainties and other factors discussed elsewhere herein, risks, uncertainties and other factors that could cause or contribute to actual results differing materially from those expressed or implied for the forward- looking statements include, but are not limited to, fluctuations in demand; changes to economic growth in the U.S. economy; government policies and regulations, including, but not limited to those affecting the Internet. Onstream Media undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements as a result of certain factors, including those set forth in Onstream Media Corporation's filings with the Securities and Exchange Commission. |