Aug 1, 2006 POMPANO BEACH, FL – Onstream Media Corporation ( OTC: ONSM), a leading online service provider of live and on-demand, digital media communications and applications, announced today that the team of Cascades Technologies, Inc. (CTi), Akamai Technologies and Onstream Media has been selected by the U.S. Department of Agriculture (USDA), to provide webcasting services that will allow the USDA’s Office of Communications to disseminate information on a broad scale to the public via the real-time webcasting of events, briefings and other information products. The USDA has allocated up to $3 million under this contract through December 31, 2008, which will be allocated between team members based on actual USDA requests for services. Randy Selman, president and chief executive officer of Onstream Media, said, “We believe Onstream was chosen to participate as a result of its comprehensive webcast encoding capabilities and geographically diverse web broadcast centers that can provide redundant signal acquisition capability, coupled with the extensive set of features offered by its Visual Webcaster platform, including webcast player-based applications such as PowerPoint slides, downloadable documents and integrated live closed captioning.” “When the USDA came to us to help solve their need to be able to reach out to a scaled audience of up to 100,000 persons simultaneously via webcasts,” said Alfredo Casta, president of team leader Cascades Technologies, “it quickly became evident that Onstream Media’s feature-rich webcasting platform possessed the capabilities we needed. Together with Akamai’s powerful delivery network, we will be able to efficiently and effectively broadcast urgent and time-critical information in multiple formats to the public in the event of emergency situations or incidents.” The USDA’s Office of Communications is responsible for the creation and dissemination of video materials (press conferences, speeches, informational programs, video coverage of meetings, and so forth) to the public during emergency situations or incidents. Mr. Casta noted that the USDA’s ability to disseminate information to the public via real-time webcasting has previously been limited by the number of users who can view these products simultaneously. “Given the growing worldwide threat of an incident such as an outbreak of Avian Influenza, critical to our assignment was the development of a means to disseminate information to the largest audience in the fastest means possible,” said Mr. Casta. About Cascades Technologies, Inc. Cascades Technologies, Inc. (CTi), an 8(a) certified, Hispanic-owned small business with headquarters in Herndon, Virginia, has a well-established history of providing superior information technology (IT) and professional services to the U.S. Department of Agriculture (USDA), Department of Labor (DOL), National Institutes of Health (NIH) as well as numerous other civilian federal government clients. Cascades Technologies uses proven methodologies and technologies to deliver solutions that meet the specific operational requirements of its clients, on time and within budget. CTi provides: People, Technology, Results (PTR), aligning the right technology using the right technology to achieve driven results. CTi successfully introduces emerging technology solutions to enable clients to better perform services. About Akamai Akamai® is the leading global service provider for accelerating content and business processes online. Thousands of organizations have formed trusted relationships with Akamai, improving their revenue and reducing costs by maximizing the performance of their online businesses. Leveraging the Akamai EdgePlatform, these organizations gain business advantage today, and have the foundation for the emerging Web solutions of tomorrow. Akamai is "The Trusted Choice for Online Business." For more information, visit http://www.akamai.com. About Onstream Media Corporation Founded in 1993, Onstream Media ( OTC: ONSM) 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, Discovery Education, Disney, MGM, Deutsche Bank, Rodale, 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. |