POMPANO BEACH, Fla., Feb. 2, 2006 -- Onstream Media Corporation ONSM, a leading online service provider of live and on- demand, digital media communications and applications, today announced that Modevity, LLC, a leading provider of virtual event and streaming media solutions, has recently integrated its VTEST(TM) web-based testing & certification solution with Onstream Media's Digital Media Services Platform (DMSP). Modevity's VTEST(TM) application provides clients with a powerful set of features that can be integrated into any distance learning or eLearning training program. The Modevity VTEST Solution can automate all training testing and certification business processes. "This integration of our VTEST application with Onstream's state-of-the- art DMSP will truly provide a client with a powerful, turnkey solution for their distance learning program needs," said Thomas J. Canova Partner, CMO of Modevity. Randy Selman, CEO of Onstream Media, stated, "We are excited to assist Modevity in creating a robust on-demand application that addresses the large national corporate training market. Our strategic technology partners such as Modevity continue to choose the Onstream DMSP platform as a new way to increase revenues, while providing flexible, cost effective solutions to their customers. And the VTEST application will enable Onstream Media to expand our line of services to our client base creating new revenue opportunities as well." VTEST is a highly flexible, powerful testing application that provides clients with a turnkey solution for any Web-based testing and certification need. Modevity provides its VTEST application on a completely outsourced Application Service Provider (ASP) basis to minimize corporate internal resources and capital expenditures. Modevity can also work within an existing organizational Intranet or LMS framework to deliver Web-based testing and certification solutions to targeted user groups. VTEST incorporates best-of-market software and hosting technologies to deliver fast, reliable testing and certification services. The Modevity VTEST application can also be integrated with Modevity's eConnex learning management platform to provide a full complement of eLearning features and management reporting. It is a cost effective way to deliver web Testing & Certification Services to those who need it, when they need it. About Modevity, LLC Modevity is a leader in providing web-based content management, streaming technologies and productivity solutions for distributed workforces through our RxConnex and eConnex learning management platforms. As experts in implementing and integrating these solutions, Modevity enables returns on technical investments by helping clients use technology to increase productivity, drive revenues and improve their competitive positions. Modevity is headquartered in West Chester, PA. About Onstream Media Corporation Founded in 1993, Onstream Media ONSM is a leading online Application Service Provider (ASP) of live and on-demand, rich media communications via the Onstream Digital Media Services Platform. Specializing in audio and video corporate communications, Onstream Media's pioneering ASP digital media services technology provides its customers with the necessary tools for webcasting, web conferencing, managing digital assets, publishing content on the Internet and establishing e-commerce storefronts to transact business online. All of Onstream Media's services are focused on increasing productivity and revenues, and reducing capital expenditures and operational costs of any organization in an affordable and highly secure environment. As a result, 78% of the Fortune 100 CEOs and CFOs and almost half of the Fortune 1000 companies have used Onstream Media's services. 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 Media 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. |