Onstream Media Awarded Three New Public Sector Contracts POMPANO BEACH, FL – August 7, 2008 – Onstream Media Corporation ( OTC: ONSM), an online service provider of live and on-demand Internet video, today announced that it has been awarded three new multi-year public sector webcasting services contracts. Onstream Media’s robust set of on-line digital media services, combined with Akamai Technologies Inc.’s (NASDAQ: AKAM) globally-distributed network for delivering and accelerating content and applications, will support the United States Nuclear Regulatory Commission (NRC), California State Department of Technology Services (DTS), and California State Board of Equalization (BOE) for an allocated total of $1.5 million in contract awards. These projects are all intended to help make legislative discussion and materials more transparent to the public. Onstream Media is an Akamai reseller. Government agencies today need a proven solution to provide video and audio broadcasts online and ensure that public hearings, training material and other specialized events and information are available to reach their constituents, industry partners and employees. Many government agencies do not have the resources and support tools and infrastructure to address this growing need. Onstream’s relationship with Akamai enables the two organizations to address this critical need in the marketplace with solutions that are designed to ensure that customers in the public sector have access to these capabilities. “Governmental use of webcasting services is becoming increasingly prevalent,” said Randy Selman, President and Chief Executive Officer, Onstream Media Corporation. “We are excited to have been awarded multi-year contracts with these organizations to help them better serve their constituents. As a result of our long term and expanding relationship with Akamai, we have come to understand why Akamai is the premier content delivery provider in the market. Akamai focuses on many of the same leadership drivers we do, such as innovation, quality, reliability, scalability and a superior customer experience. When combined with our market leading Internet video services, our public sector customers will receive the highest quality Internet broadcasting service to support their public awareness initiatives.” Highlights for the Three Contract Awards:
Onstream will begin working on all three projects this year. With these wins, Onstream is now providing webcasting services to twelve federal government agencies, and seven state agencies. In addition, 15 municipalities and federal agencies are subscribers to Onstream Media’s Digital Media Services Platform. Onstream Media is also a stakeholder in the federal government’s Networx Universal contract as part of the Qwest International team. About Onstream Media Onstream Media Corporation ( OTC: ONSM) is an 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 via 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, utilizing Onstream Media’s Auction Video™ (patent pending) technology. In addition, Onstream Media provides live and on-demand webcasting, webinars, web and audio conferencing services. In fact, almost half of the Fortune 1000 companies and 78% of the Fortune 100 CEOs and CFOs have used Onstream Media's services. Select Onstream Media customers include: AAA, AXA Equitable Life Insurance Company, Bonnier Corporation, BT Conferencing, Dell, Deutsche Bank, Disney, National Press Club, NHL, MGM, PR Newswire, Televisa, Shareholder.com (NASDAQ), and the U.S. Government. Onstream Media's strategic relationships include Akamai, Adobe, eBay, FiveAcross/Cisco and Qwest. For more information, visit Onstream Media at http://www.onstreammedia.com or call 954-917-6655. About United States Nuclear Regulatory Commission The U.S. Nuclear Regulatory Commission (NRC) was created as an independent agency by Congress in 1974 to enable the nation to safely use radioactive materials for beneficial civilian purposes while ensuring that people and the environment are protected. The NRC regulates commercial nuclear power plants and other uses of nuclear materials, such as in nuclear medicine, through licensing, inspection and enforcement of its requirements. About the California Department of Technology Services About California State Board of Equalization The Board of Equalization collects California state sales and use tax, as well as fuel, alcohol, and tobacco taxes and fees that provide revenue for state government and essential funding for counties, cities, and special districts. Media Relations: Investor 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. |