Digital Audiobook Distribution Network Launched By OverDrive

OverDrive, Inc. announced the opening of a wholesale distribution service for digital audiobooks. Content Reserve, our digital media network, has been expanded to include a growing library of leading audiobook titles featuring Microsoft® Windows Media Technologies.

DIGITAL AUDIOBOOK DISTRIBUTION NETWORK LAUNCHED BY OVERDRIVE
Download audio to be sold by leading web retailers protected with DRM from
Microsoft Corporation

CLEVELAND (6/3/02) – OverDrive, Inc., a global leader of eCommerce and
Digital Rights Management (DRM) solutions today announced the opening of a
wholesale distribution service for digital audiobooks. The company has
expanded its Content Reserve digital media network to include a growing
library of leading audiobook, training and educational titles available for
resale by retailers from their websites featuring Microsoft® Windows Media
Technologies.

OverDrive has expanded its distribution agreements with dozens of leading
U.S. and European publishers to include secure fulfillment of their
audiobook titles through affiliated retailers. UK-based WHSmith Online
(www.whsmith.co.uk) and Follett Higher Education Group, Inc. in the U.S.
(www.efollett.com) are scheduled to add downloadable audiobooks to their
stores this summer. OverDrives Content Reserve already hosts over 22,000
premium eBook titles from over 350 publishers including HarperCollins,
Random House, McGraw-Hill, AOL Time Warner Book Group, John Wiley & Sons and
St. Martins Press. Now, in addition to popular eBook formats, this
leading B2B premium media marketplace will securely supply digital audio
titles covering a wide range of topics including best sellers from todays
top authors in fiction, non-fiction and business.

June is Audiobook month and we are excited to join in the promotions for
audiobooks shared by booksellers, libraries and publishers across the
nation," stated Pamela Turner, Director of Content for OverDrive. Now that
OverDrive is securely fulfilling digital audiobooks for booksellers
websites, users can browse, buy and instantly download top quality digital
audiobooks to their PC, laptop, Pocket PC or to other mobile devices," Ms.
Turner added.

In response to publisher demand, OverDrive has expanded its high quality
conversion services for ePublishing and digital distribution to include the
conversion of audio files from cassettes and CDs into Microsoft Windows
Media Audio (.wma) format.

About OverDrive
OverDrive, Inc. (www.overdrive.com) is a leading provider of eBook, DRM and
media marketplace technologies enabling the secure management and
distribution of digital media over global networks. As a strategic partner
with Microsoft Corporation (Nasdaq: MSFT), Adobe Systems, Inc. (Nasdaq:
ADBE) and Palm Digital Media, OverDrive delivers proven technology for
trusted fulfillment and resale of premium content from the worlds leading
media companies. As a Principal Member of the Open eBook Forum (OeBF),
OverDrive is strategically focused on driving specifications and standards
for the emerging and rapidly evolving electronic publishing industry. The
company was founded in 1986, and is headquartered in Cleveland, Ohio.

Press Contact:
Jennifer Jackson
jjackson@overdrive.com