( BW)(NV-MEDIA-&-ENTERTAINMENT)(MEDE) Media and Entertainment.com Completes Nexcode Acquisition; Company to Offer Internet Video Streaming as Clear as Broadcast Television

Business Editors

LAS VEGAS--(BUSINESS WIRE)--Sept. 24, 2001--Media and Entertainment.com Inc. (OTCBB: MEDE), a rapidly growing leader in communications services for the entertainment industry, Monday announced that it has completed its acquisition of Nexcode Inc., giving the company the ability to stream video over the Internet at very high speeds, matching television quality pictures online.
Nexcode's state-of-the-art technology permits video to be broadcast online at 24-30 frames per second, without cumbersome downloading and buffering like other popular technologies such as Microsoft Corp.'s (Nasdaq: MSFT) Windows Media Player, Apple Computer Inc.'s (Nasdaq: AAPL) Quick Time or RealNetworks Inc.'s (Nasdaq: RNWK) Real Player.
This means that Media and Entertainment will now be able to broadcast videos, commercials and movie trailers to online viewers at speeds that are up to 100 times faster than before.
"The acquisition of Nexcode's technology places us solely in the lead for super fast, high-quality video streaming," said Roger Paglia, chief executive officer of Media and Entertainment.com. "This strategic acquisition should pay for itself many times over as it helps us attract major clients throughout the international entertainment industry.
"This technology will enable us to offer motion picture studios and record labels the highest quality, multimedia broadcast networks at extremely competitive prices."
In the deal, Media and Entertainment.com has acquired the company and will utilize Nexcode's proprietary NetDvD(TM) technology, which converts video files into an Internet streamable format that run on platforms such as Real Player, Windows Media Player and Quick Time.
It allows consumers to view video online in a full-screen format, with the same quality as television, without high-speed Internet connections.
"With Media and Entertainment.com's business development expertise, industry-brand recognition and robust expansion strategy, we will be able to significantly accelerate the delivery of NetDvD(TM) technology and solutions to our shared customer base," said Nana Yalley, CEO and co-founder of Nexcode.
"Initiating this key acquisition so soon after our Matthews Affiliated Productions Inc. acquisition is testimony to the drive and effectiveness of our organization. During this short time frame, we have made great strides to build Media and Entertainment.com into a major player in this industry and are on track to announce positive results in the very near future.
"We anticipate that this acquisition will be responsible for sizable contributions to our bottom line in the fourth quarter of 2001 and for years to come," added Paglia.
Media and Entertainment.com is a growth-oriented multi-faceted entertainment company consisting of television and motion picture production facilities and production office buildings at multiple locations, services for the production and distribution of content worldwide, and a full-service advertising-media agency.
The continued growth of its business is expected to be facilitated through further acquisitions of synergistic companies and through the formation of strategic partnerships and alliances.

This release contains forward-looking information within the meaning of The Private Securities Litigation Act of 1995. 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.