Dec 12, 2006 POMPANO BEACH, Fla.- Onstream Media Corporation ( OTC: ONSM - News), a leading online service provider of live and on- demand, digital media communications and applications, announced today that the Company has signed both teaming and services agreements with Five Across, Inc., a leading provider of social networking and online community platforms. The agreements call for the integration of certain Onstream Media Digital Media Service Platform (DMSP) services with the Five Across Connect social networking platform. The combined service enables publishers, media companies, professional sports leagues and consumer brands to strengthen and grow their user communities with dynamic multimedia experiences including user generated video. Onstream Media's DMSP allows for the uploading, transcoding, hosting and streaming of user-generated video to accommodate a wide variety of media player formats and end-user devices, as well as connection bandwidths. "Onstream Media's turnkey video solutions will expand the power of the Five Across platform, allowing us to offer our customers a seamless way to include proprietary and user-generated video within their communities," said Ken Jones, Chief Operating Officer, of Five Across. "We're excited about partnerships like these that allow us to offer best-in-class solutions to our customer base." "This strategic partnership sets the stage for Onstream Media and Five Across to deploy the enabling technologies to create social networks based on any topic with integrated professional and user generated multimedia content found on platforms such as YouTube and MySpace," said Randy Selman, President and Chief Executive Officer of Onstream Media. About Five Across Founded in 2003 by leading software developers from Apple Computer and Adobe Systems, Five Across is a leading technology company bringing new, innovative products to build Internet-based communities. The Five Across® Connect is a rapid-deploy web platform enabling organizations, such as media companies, sports leagues, and consumer brands, the ability to strengthen and grow their user communities with dynamic multimedia experiences. Five Across is a privately held company backed by leading venture capital firms Adobe Ventures and Granite Ventures. For more information visit http://www.fiveacross.com. About Onstream Media Founded in 1993, Onstream Media Corporation ( OTC: ONSM - News) is a leading online service provider of live and on-demand, digital media communications and applications. Onstream Media's pioneering Digital Media Services Platform (DMSP) provides its customers with the necessary tools for webcasting, web conferencing and webinars as well as managing digital assets, publishing content on the Internet in various files and formats 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 for 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. Select Onstream Media customers include: AOL, AAA, AXA Equitable Life Insurance Company, Discovery Education, Disney, MGM, Deutsche Bank, Rodale Inc., Thomson Financial/CCBN, PR Newswire and the U.S. Government. For more information, visit Onstream Media at http://www.onstreammedia.com or call 954-917-6655. At the Company: 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. |