The Venice Project Code-Named No More

Today, the company formerly known under the code name The Venice
Project has revealed its official brand, "Joost(TM)." Currently
available in private beta testing, Joost combines the best of TV and
the best of the Internet by offering viewers a unique, TV-like
experience enhanced with the choice, control and flexibility of Web
2.0.

Co-founded by Niklas Zennstrom and Janus Friis, Joost fills a
critical gap in the online video entertainment arena. Joost is powered
by a secure, efficient, piracy-proof Internet platform that enables
premium interactive video experiences while guaranteeing copyright
protection for content owners and creators.

"People are looking for increased choice and flexibility in their
TV experience, while the entertainment industry needs to retain
control over their content," said Fredrik de Wahl, chief executive
officer of Joost. "With Joost, we've married that consumer desire with
the industry's interests."

Joost is the first global TV distribution platform, bringing
together advertisers, content owners and viewers in an interactive,
community-driven environment. Joost can be accessed with a broadband
Internet connection and offers broadcast-quality content to viewers
for free.

"We've received positive and constructive feedback from our early
beta-testers and are now at a stage where we're ready to reveal our
true brand," said de Wahl. "The Joost name has global appeal, embodies
fun and energy, and will come to define the 'best of TV and the best
of the Internet.'"

About Joost(TM)

Joost(TM) provides a new way of watching TV that combines the best
of full-screen television entertainment with online interactive and
community benefits to bring an unprecedented selection of video
content to viewers anytime, anywhere. Joost is based on a
state-of-the-art, secure, peer-to-peer streaming technology.

To learn more about Joost or to become a beta-tester, visit
www.joost.com.

NOTE TO EDITORS: In the email addresses noted in the contact
details for this news release, there is an "underscore" between
"Charlstie" and "Laytin" and between "Alice" and "Regester". This
symbol may not appear properly in some systems.