Business Editors/Entertainment and High-Tech Writers

LAS VEGAS--(BUSINESS WIRE)--May 22, 2002--Media and Entertainment.com Inc. (OTCBB: MEDE), a communications services company and cutting-edge technology provider of digital video and audio compression/encryption solutions for the entertainment industry, Wednesday announced that it has signed a letter of intent for a joint venture with 3V Graphics Inc. (3VI).
This multilayered partnership will include the creation of a new brand to be marketed by the joint venture as 3V Media & Entertainment.
"We are proud to announce our intent to enter into a strategic partnership with 3V Graphics," said Roger Paglia, chief executive officer of Media & Entertainment. "This decision comes as a result of our focus on partnering with an elite group of industry leaders to form specialized alliances that can tap into very lucrative markets.
"Our two companies bring unique strengths and valuable resources to this joint venture, thus resulting in a superior new level of value-added global broadband service."
Many organizations currently face the daunting task of trying to cost-effectively create, manage, distribute and store rich media assets like audio, video, graphic files, images and multimedia presentations.
The combination of Media and Entertainment.com's and 3V Graphics' capabilities is intended to provide this new venture's prospective clients with a new high-quality cost-effective means to manage their entire media supply chain.
3V Media and Entertainment's suite of software applications will deliver the latest in video streaming, file sharing, media content integration, indexing and search technology.
Nana Yalley, CIO of Media & Entertainment, added, "This joint venture will help corporate enterprises, entertainment companies, educational institutions, as well as media and governmental organizations, increase the ROI associated with creating encrypted media content by enabling maximum reusability and accessibility in a cross-platform environment."
Media and Entertainment.com plans to embellish the performance of its cutting-edge NetDvD technology by incorporating 3VI's high-performance multimedia tools for manipulating media files in order to output data to a flexible medium that generates extremely fast, yet easy drag-and-drop assembly of video clips.
"This advancement in technology means that all video, audio and menu graphics may be seamlessly integrated into interactive CD-ROM/DVD titles, and Internet streaming media, quicker and less expensively than ever before," explained Caesar Collazo, CTO of Media & Entertainment.
Through the use of NetDvD Streamshare's fault-tolerant technology, users can share video/audio files and assign multiple subtitle streams to each video clip.
The solution's real-time proofing capabilities will also allow projects to be previewed on a CPU monitor or an external video monitor using NetDvD's video encoding software, thus enabling extremely fast feedback and the highest quality review of all content.
"3V Media and Entertainment's combined modular set of tools is expected to transform audio, video and text assets into a dynamic medium for live pay-per-view events, video-on-demand, promotions, product marketing and various other applications," said Nicholas Reviglio, president of 3VI.
"This is a major advancement for the entertainment industry. We will be giving our clients the ability to pick and choose content and stream it straight from their desktops. That means that they'll be able to completely eliminate unnecessary tape duplication and shipping costs, which will save them a significant amount of time and money."

About Media and Entertainment.com

Media and Entertainment.com is a growth-oriented, multifaceted entertainment and technology company, providing fully integrated advertising, media management/communications technology, and Internet technology related products to the entertainment, motion picture, music industry and global technology market.
Media and Entertainment.com also offers broadcasters, motion picture studios and record labels the highest quality, multimedia services at extremely competitive prices. The continued growth of its business is expected to be facilitated through further acquisitions of synergistic companies, as well as through the formation of new strategic partnerships and alliances.

This release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including the company's ability to execute a joint-venture agreement and combine its software with 3VI's media tools and to increase the return on investment associated with creating encrypted media content and to embellish its performance of its cutting-edge NetDvD technology; and to deliver Internet streaming media quicker and less expensively than ever before; and to enable extremely fast feedback and the highest quality review of all content.
Forward-looking statements may be identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes," or statements indicating certain actions "may," "could," or "might" occur. Such forward-looking statements involve certain risks and uncertainties. The actual results may differ materially from such forward-looking statements.
The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or implied) will not be realized.

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