Jun 26, 2007 Pompano Beach, FL – Onstream Media Corporation ( OTC: ONSM), a leading online service provider of live and on-demand, digital media communications and applications, today announced that the Company has been added to the Russell Microcap® Index when Russell Investment Group reconstituted its family of U.S. indexes on June 22, 2007. Membership in the Russell Microcap® Index, which remains in place for one year, means Onstream Media will automatically be included in appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes. According to Russell, Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. $4 trillion in assets currently are benchmarked to Russell indexes, according to Russell, and investment managers who oversee these funds purchase shares of member stocks according to that company's weighting in the particular index. Randy Selman, chief executive officer of Onstream Media stated, “Onstream Media’s inclusion in the Russell Microcap® Index reflects the ongoing growth of the Company and our improving market capitalization. I believe by being a part of this index, our investor audience will further broaden potentially resulting in stronger interest and more universal ownership of our stock.” About Russell: Russell Investment Group aims to improve financial security for people by providing strategic advice, world-class implementation, state-of-the-art performance benchmarks and a range of institutional-quality investment products. With more than $200 billion in assets under management, Russell serves individual, institutional and advisor clients in more than 40 countries. Russell provides access to some of the world's best money managers. It helps investors put this access to work in corporate defined benefit and defined contribution plans, and in the life savings of individual investors. Founded in 1936, Russell is a subsidiary of Northwestern Mutual Life Insurance Company and headquartered in Tacoma, Washington. Russell has principal offices in Amsterdam, Auckland, Hong Kong, Johannesburg, London, Melbourne, New York, Paris, San Francisco, Singapore, Sydney, Tokyo and Toronto. Russell's indexes are unmanaged and cannot be invested in directly. For more information on Russell indexes, go to http://www.russell.com About Onstream Media: Onstream Media Corporation ( OTC: ONSM) is a leading online service provider of live and on-demand internet video, corporate web communications and content management applications. Onstream Media's pioneering Digital Media Services Platform (DMSP) provides customers with cost effective tools for encoding, managing, indexing, and publishing content on the Internet. The DMSP provides our clients with intelligent delivery and syndication of video advertising, and supports pay-per-view for online video and other rich media assets. The DMSP also provides an efficient workflow for transcoding and publishing user- generated content in combination with social networks and online video classifieds. Onstream Media also provides live and on-demand webcasting, webinars, web and audio conferencing services. Almost half of the Fortune 1000 companies and 78% of the Fortune 100 CEOs and CFOs have used Onstream Media's services. Onstream Media customers include: AOL, AAA, AXA Equitable Life Insurance Company, Dell, Disney, eBay, MGM, Deutsche Bank, Qwest, Rodale, Inc., Televisa, Thomson Financial/CCBN, PR Newswire, Bonnier Corporation and the U.S. Government. For more information, visit Onstream Media at http://www.onstreammedia.com or call 954-917-6655. Media Relations: 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. |