Media & Entertainment.com Announces the Appointment of James B. Anderson to the Board of Directors

TUESDAY , SEPTEMBER 24, 2002 09:34 AM

BURBANK, CALIFORNIA, Sep 24, 2002 (CCNMatthews via COMTEX) -- Experienced financial executive to help direct strategic planning and growth initiatives for commercialization of flagship software.

Media & Entertainment.com Inc., (OTCBB:MEDE), a leading developer of software for video streaming, compression and secure file sharing on the Internet has named James B. Anderson, Ph.D, to its Board of Directors.

Dr. Anderson is a Principal of Lantern Hill Capital, a management consulting firm providing consulting services to development stage companies. Dr. Anderson formed Lantern Hill after serving as Portfolio Manager for The Travelers Insurance Company where his responsibilities included management of the Travelers Venture Capital Program. Under his direction the fund grew from $20 million to $200 million with annual commitments averaging $25 million.

"We are fortunate to have a man of Jim's experience joining our Board of Directors. His expertise in guiding development stage companies will be invaluable as we experience growth through increasing market acceptance of our NetDVD Streamshare software," said CEO Roger Paglia.

One of Dr. Anderson's responsibilities on the Board of Directors will be to Chair the Audit Committee. Appointing an independent Director to this position is a statement to shareholders of management's commitment to implementing and following fiscally responsible policies. The appointment of Dr. Anderson as an outside Director fulfills a significant requirement towards qualifying for the Bulletin Board Exchange ("BBX").

About Media & Entertainment.com, Inc.

Media & Entertainment.com, Inc. is a technology/media company whose proprietary software, NetDVD Streamshare, enables users to view all types of video online in full screen format, at very high speed, superb quality, and greatly reduced cost, eliminating the need for expensive high-speed connections. The technology makes it possible to produce highly scalable, fault tolerant, fully integrated streaming of scheduled and live video. 

This release contains forward-looking statements 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 our experiencing growth through increasing market acceptance of our NetDVD StreamShare Software. 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. Forward-looking statements involve risks and uncertainties. A number of factors could cause actual future results to differ materially from those contemplated by forward-looking statements, including Media & Entertainment's ability to develop satellite-based live and video-on-demand streaming media services from its NetDvD technology helping to lay a solid foundation for profitability in the foreseeable future; NetDVD StreamShare's ability to ensure reliable delivery of content to web viewers; and our experiencing growth through increasing market acceptance of our NetDVD Streamshare software. Media & Entertainment 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.