MORPHEUS MESSENGER TO BE POWERED BY PALTALK

For Immediate Release: June 11, 2002

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Paltalk and StreamCast Networks, Inc. Sign Agreement to offer Morpheus Users Instant Messaging, Audio and Video Communications; Paltalk Competes with AOL for the Most Instant Messaging Users by Year's End

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New York and Franklin, TN.—June 11, 2002— StreamCast Networks, Inc., creators of the Morpheus P2P software, and Paltalk.com, one of the leading providers of software for live video, voice and text communications over the Internet, today announced that Paltalk's software will power the Morpheus Messenger – a comprehensive instant messaging and on-line audio/video communications product.

As part of an agreement between the two companies, StreamCast and Paltalk will offer the Morpheus Messenger to all Morpheus users with the launch of Morpheus 1.9. The free product will enable text instant messaging, audio chat with over 500 simultaneous participants, and still image video communications. The users will have the option of upgrading to the “Morpheus Messenger Plus” product that enables full motion video capability for $9.95 for three months or $24.95 per year. The Paltalk software will not affect or add functionality to the P2P file sharing functions of the Morpheus software.
“We are extremely excited to offer a great new product to our users,” said Steve Griffin, Chairman and CEO of StreamCast Networks. “We are committed to enhancing our users’ experience to directly connect and share information in a true Peer-to-Peer environment. Now with Morpheus Messenger, millions of our users will be able to communicate with each other in real time.”

“This agreement brings Paltalk a step closer to its goal of having the instant messaging product with the most users,” said Jason Katz chief executive officer and fonder of Paltalk. “Paltalk now has access to 1.75 million new users that download Morpheus software each week. This puts Paltalk in a position to rival AOL for the most instant message users by year's end – particularly because our software interoperates with AIM and our users can instant message with their AOL buddies.”

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