Veoh Soon to Launch P2P Internet Television Network

Press Contact:
Jen Roberts
Rockstar Communications
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VEOH NETWORKS RECEIVES SERIES A FUNDING TO SUPPORT FIRST INTERNET TELEVISION PEERCASTING NETWORK LAUNCH

– Shelter Capital Partners invests in new Internet service that redefines TV
by allowing anyone to broadcast full-screen, television-quality video –

LA JOLLA, Calif. – August 10, 2005 – Veoh Networks, Inc., the first
Internet Television Peercasting Network, today announced it has
completed a Series A round of financing led by Shelter Capital
Partners. The introduction of Veoh Networks (www.veoh.com) creates a
new category of television networks that take advantage of exiting
broadband infrastructure to deliver TV-grade, full-screen video
programming directly from producers to consumers.

Veoh Networks was founded in 2004 by Dmitry Shapiro, a technologist
best known for creating the world's leading P2P security software that
manages more than one million enterprise users, regulating
applications such as BitTorrent and Grokster. Veoh's management and
advisory team also includes executives from Coca-Cola, Columbia
Pictures, eBay, Gateway Computer and Musicmatch.

"Today, thousands of video producers are creating innovative,
entertaining, informative and provocative television content that is
never slotted for broadcast over traditional television networks,"
said Shapiro, also Veoh's CEO. "Veoh provides an open system that
allows producers to distribute their content directly to consumers,
bypassing the traditional hurdles of getting 'picked up' by a major
television network."

Veoh software, installed on consumers' PCs or Macs, creates a virtual
television network that is able to distribute TV-quality, full-screen
broadcast video to hundreds of millions of users with broadband
Internet connections. Motion picture studios, television networks,
organizations and individuals can publish unlimited amounts of
broadcast video content to the network, providing consumers with
unparalleled choice in television programming and control over their
viewing experience.

Veoh utilizes a proprietary, secure P2P network that helps prevent
piracy of content, and makes sure all video content is properly
categorized, of TV-grade quality and always available. Unlike rogue
P2P networks that utilize unmanaged BitTorrent to share mostly pirated
video, Veoh is a community of publishers and consumers, where
published content is approved by editors, and consumers are assured
that they get what they request. The system also integrates tightly
with Google Video and RSS, providing content producers with easy
publishing to multiple video systems.

"We are excited about Veoh's plans to create a marketplace for video
content producers to distribute their work, much like eBay established
a marketplace for individuals and stores to sell their wares," said
Art Bilger, managing partner at Shelter Capital Partners. "There is a
growing market opportunity for such a service, and the Veoh team is
uniquely qualified to deliver on such a grand vision."

A beta version of Veoh's software and service will be available later
this month. Content producers and consumers are encouraged to visit
www.veoh.com to sign up for notification upon launch.

About Veoh Networks, Inc.
San Diego-based Veoh Networks is the first Internet Television
Peercasting Network, reaching hundreds of millions of viewers with
broadband Internet connections throughout the world. Veoh allows
content producers, from video bloggers (vloggers) to motion picture
studios, to deliver TV-grade, full-screen video directly to consumers,
without financial, geographical or regulatory restrictions found in
traditional broadcasting systems. Veoh is privately held and
venture-capital funded.

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