LOS ANGELES--(BUSINESS WIRE)--July 26, 1999--

Internet Media Company Unveils Plans to Establish Global Online

Spike(tm) Brand for Original Content, E-Commerce Targeting

16 - 30 Age Group

"The Internet is a nation unto itself. Youth is its natural citizenship. Spike intends to be its national broadcaster," said C. Chris O'Hanlon, CEO of Spike Networks Limited, the first global Internet media group to base itself on the Hollywood studio. O'Hanlon made these comments in reference to his announcement today of the Network's newest division, Spike Internet Radio Inc. and the launch of SpikeRadio(tm), the world's first 24/7 global digital lifestyle Internet radio station targeting international youth ages 16 to 30 years old.

Spike Networks, which recently relocated its headquarters to Los Angeles from Australia, originated as a strategic Internet services company before evolving into Asia-Pacific's leading Internet media company. This visibility in the marketplace has created such a following in the region's business and investment communities, that when the company listed on the Australian stock exchange last week, it was so heavily oversubscribed that the company had to scale back general public applications.

Propelled by the success in the Internet services arena, Spike is extending this brand awareness around the world by developing a global Internet network infrastructure to host SpikeRadio as well as Spike's other content and venture sites. The SpikeRadio announcement marks the company's first step towards establishing a global brand for convergent content targeting the hard-core urban youth culture.

Beginning August 1, listeners from around the world can tune in at www.spikeradio.com to hear aggressive original programming, stocked with an attitude-laden mix of music, news and live chat all live from SpikeRadio's headquarters in Los Angeles. Melding streaming audio and video over the Internet, the network is re-engineering the traditional broadcast radio format to create an international forum with unlimited opportunities for constant, live interaction with its audience. Revenue will be derived primarily through advertising, sponsorships and eventually e-commerce in such areas as concerts, tickets and merchandising.