DigitalMediaNet.com to License and Operate AVVideo.com and FilmAndVideoMagazine.com

FOR IMMEDIATE RELEASE

DigitalMediaNet.com to License and Operate AVVideo.com and FilmAndVideoMagazine.com

August 2, 2000 (Santa Ana, CA) -- Digital Media Online (http://www.digitalmedianet.com/), the worlds leading developer of B2B vertical online communities for the digital media market, has entered into an agreement to obtain licensing and operational authority for two sites owned by Knowledge Industry Publications, a subsidiary of Phillips Business Information, Inc. Digital Media Online is exhibiting this week at the SIGGRAPH 2000 Convention in New Orleans in Booth #2545.

We are thrilled to have these sites as part of the DigitalMediaNet.com industry hub," said Michael J. Skerly, President of Digital Media Online. Having Knowledge Industry Publications choose Digital Media Online as the online publishing partner for AVVideo.com and FilmAndVideoMagazine.com reinforces DigitalMediaNet.coms position as the worlds largest online B2B hub serving the digital media industry."

The agreement is one of the rare alliances between online and traditional publishing companies and gives Digital Media Online the license and operational authority for Knowledge Industry Publicationss www.avvideo.com and www.filmandvideomagazine.com. The sites will be updated daily by Digital Media Online staff with breaking news and industry information. In addition, all editorial content in the printed publications will be licensed to Digital Media Online from Knowledge Industry Publications. Digital Media Online will manage online sales in partnership with the sales staff of the printed publications.

We are happy to be entering into this partnership with Digital Media Online to build and develop the avvideo.com and filmandvideomagazine.com websites. They have clearly grown Digital MediaNet.com into the most important and respected portal site on the web for digital media creators. We are fortunate to be teaming up with such a technically experienced group who also have a deep understanding and appreciation for the markets we serve , said Roscoe Smith, President of Knowledge Industry Publications

The agreement is part of an investment of over $3 million in advertising, trademark and content licensing from Knowledge Industry Publications and incorporates the avvideo.com and filmandvideomagazine.com sites into the DigitalMediaNet.com industry hub.

About Digital Media Online (http://www.digitalmedianet.com)
Digital Media Online is the leading developer of vertical online communities in the digital media marketplace. With more than 40 channels, DigitalMediaNet.com serves distinct market segments including streaming media, digital video, animation, special effects, desktop publishing, imaging and design, digital audio, CAD, workstations, broadcast and post production and game development. Each of the channels is updated with current industry news at least once each business day. The DigitalMediaNet.com community resources include breaking technology and product news, techniques, white papers, research, interactive product guides, classified, expert help, training, job and resume listings and extensive examples of digital art, animations and video.

About Knowledge Industry Publications, Inc. (http://www.kipi.com)
KNOWLEDGE INDUSTRY PUBLICATIONS (KIPI) has been serving the creative, management and production needs of professionals working in image creation for entertainment, information, training, and education since 1967. As the producer of REPLItech Europe, REPLItech North America, REPLItech Asia, and as the publisher of AV Video Multimedia Producer, Film & Video, TapeDisc Business, and the DVD Report; KIPI serves the needs of the creative community through trade shows, seminar programs, conferences, publications and directories. KIPI is a subsidiary of Phillips Business Information, Inc.

About Phillips Business Information, Inc.
Phillips Business Information, Inc. (www.phillips.com/pbi), a subsidiary of Phillips International, Inc., provides a broad range of business information resources for executives in specialized industries including telecommunications, media, aviation, aerospace, satellite and energy. Phillips International, Inc., a $300 million corporation headquartered in Potomac, Md., offers a wide variety of quality products and services for both consumer and business-to-business markets. Phillips is one of the leading publishers in America, with a fast-growing Internet business.

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