Pompano Beach, FL, April 5, 2007 - Onstream Media Corporation (Nasdaq: ONSM), a leading online service provider of live and on-demand video applications and digital media communications, announced today that it has been selected to serve as a member of the Qwest Communications International team that was awarded a stake in Networx Universal, the largest communications services contract in the world. Qwest and its team members will participate in the U.S. government program that is valued at approximately $48 billion over the next 10 years to provide leading-edge voice, data and video services, including managed and secure advanced data networks, to federal agencies nationwide. Onstream Media's role as part of the Qwest team will be providing comprehensive video and audio encoding services and webcasting for live and archived distribution of content via a wide range of digital delivery networks.
Providing voice, video, IP, wireless, satellite and IP-centric services to 135 federal agencies across 191 countries, Networx Universal will provide comprehensive, best-of-breed communications and networking services and technical solutions to all federal agencies. It will allow the agencies to focus resources on building a seamless and interoperable operating environment while GSA ensures agency access to the best technology industry has to offer.
Randy Selman, President and Chief Executive Officer of Onstream Media, stated, "Onstream Media is very pleased to be part of a team that has been chosen as a tier-one service provider to the government. We are equally proud to work with Qwest, especially given its long history of serving government customers. We believe our inclusion in this select group of providers clearly demonstrates that our digital media services platform provides the necessary technologies to meet both the current and anticipated needs of the broad number of government agencies who will be served under the Networx Universal initiative. We look forward to working closely with Qwest to deliver our advanced webcasting and video encoding solutions to the United States government."
Onstream Media Corporation (Nasdaq: 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, MGM, Deutsche Bank, Rodale, Inc., Televisa, Thomson Financial/CCBN, PR Newswire and the U.S. Government. For more information, visit Onstream Media at 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.