Jun 27, 2006 LOS ALTOS, Calif. -- Radiance Technologies Inc., a leader in Managed Asset Delivery, today announced that it has partnered with Onstream Media Corp. ONSM, a leading online application service provider (ASP) of live and on-demand communications and digital media services, to provide a first in digital media and content delivery: the use of patented digital logistics technologies to optimize online delivery of digital media from their origin to their ultimate destination. The solution virtually eliminates the speed, reliability and security issues commonly related to sending massive files over the Internet or private networks. The joint-technology offering will be provided by Onstream Media and made available to its customers, including major Hollywood studios and production houses, advertising agencies, and media communications firms. Many of these firms today rely on mailing film and other media to partners in their supply chains -- a costly method that can add days or weeks to the production schedules of mission-critical media projects, reduce revenue opportunities, and jeopardize competitive advantage. The solution will also enable Onstream's customers to move large audio and video masters securely to production studio partners, shaving days off production schedules and allowing expedited schedules for movie premieres. The offering will be powered by Radiance's TrueDelivery(TM) system software, which is deployed in a distributed, fault-tolerant overlay network to provide carrier-class managed delivery. "Radiance Technologies offers a new paradigm for large file delivery as traditional materials move rapidly to digital formats," stated Randy Selman, president and chief executive officer of Onstream Media. "Our customers continue to validate the need for large-content delivery. In fact, we anticipate the need to move over 110GB of content daily using Radiance TrueDelivery. And here is the key to our competitive advantage: we will move this data by using our existing network bandwidth more efficiently, rather than adding more bandwidth." "The digital content industry relies heavily on collaboration in creating films, commercials and other corporate digital media -- often involving terabytes of content," said Tom Engdahl, president and chief executive officer of Radiance Technologies. "Onstream Media has relationships with some of the leading media firms in and outside of Hollywood, where eliminating piracy is a chief concern. Together we are providing a state-of-the-art distribution method that ensures secure, cost-effective delivery of critical digital media." Selman added that the Radiance solution will allow Onstream to guarantee delivery of content securely and cost-effectively, as well as to ensure accurate billing of customers. The joint-technology offering is available now. About Onstream Media Corporation Founded in 1993, Onstream Media is a leading online service provider of live and on-demand communications and digital media services including encoding, editorial, hosting, digital asset management, streaming, e- commerce/pay-per-view and distribution via the Onstream Digital Media Services Platform. Onstream Media's pioneering ASP Digital Media Services Platform (DMSP) 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 website at http://www.onstreammedia.com or call 954-917-6655. About Radiance Technologies Based in Los Altos, CA, Radiance Technologies is a breakthrough company delivering Managed Asset Delivery solutions that enable users and organizations to send, receive and collaborate on large content between remote locations around the world with unparalleled ease. Radiance's Courier(TM) and TrueDelivery(TM) systems provide comprehensive tracking and monitoring, guaranteed reliability all with US DoD certified security. Radiance was founded in 2000, and its investors include Levensohn Venture Partners, Vanguard Ventures and Sutter Hill Ventures. 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. |