NEW YORK, July 1, 2004 (PRIMEZONE) -- Narrowstep, Inc., the TV on the Internet company, today welcomed the announcements by both President Bush and Senator John Kerry that they will make universal broadband access for every American a national priority, as the company announced the adoption of its "TV-Station-in-a-Box" product by the US' fourth largest education company.
Iolo Jones, CEO of Narrowstep, Inc., said, "Both candidates' proposals on broadband are encouraging. Broadband is not only central to the development of entertainment services, but for education and for regional development in rural America."
Jones added, "As the president observed, the US ranks 10th in per capita use of broadband technology, and Americans don't like being 10th at anything. But it's more important than America's self-esteem. What's at stake is America's economic future. In the UK, every school has had broadband access and is able to offer this to all pupils."
Mr. Bush has promised broadband access in all parts of the US by 2007, and Mr. Kerry proposes tax breaks of 10 -- 20 percent to expand broadband availability in inner cities and rural areas.
According to Jupiter Research, 26.9 million, or 24% of US households have broadband access in 2004, a figure currently tipped to rise to 46 million, or 39% of all homes by 2008.
Jones comments: "Banishing the digital divide from the schoolroom will result in a more positive future for everyone. There is a parallel in America with its roads. The country had roads between cities since Independence, but when President Eisenhower got the interstate highway system going, it changed everything. Suddenly, traffic moved faster and so did the economy. Now, we have an Internet, but traffic isn't flowing as quickly as it can because the 'roads' can't handle it. Universal broadband access will do for Internet traffic what the interstate highway system did for vehicle traffic. America needs universal broadband access as a foundation for future economic growth."
Narrowstep has created a "TV-Station-in-a-Box" that allows content providers to put their own programming on the Internet for a fraction of the cost of a broadcast channel and then distributing the content at TV-like quality on broadband using Narrowstep's ChannelServer(tm) technology.
Jones concluded, "Narrowstep's business covers all aspects of broadband video distribution. The commitment by both presidential candidates to create a nation in which every person has broadband access to the Internet represents a major step in the evolution of this market, not just for education, but also for rural and inner city businesses."
About Narrowstep Inc.
Narrowstep, Inc. delivers television on the Internet, helping its clients turn web sites into web channels and creating a new model for broadcasting to targeted audiences that it calls narrowcasting. Narrowstep can provide a comprehensive service to help sports bodies and organizations maximize their income from mobile, wireless, broadband and broadcast distribution. Its MediaServer(tm) manages video and media using an easy-to-use web based interface -- the product interfaces with a wide range of content management, digital rights management and digital asset management products and systems. Narrowstep's ChannelServer(tm) is a unique program scheduling tool that schedules and runs a client's online TV station, while its AdServer(tm) commercializes the delivery of broadband content on the Internet using the premier broadband advertising product -- select content and channels, profile, schedule, measure and report on campaigns. High.TV is Narrowstep's own broadband television channel for extreme sports enthusiasts, a demonstration of the company's product that also provides a regular stream of income. Narrowstep's technology is being deployed by leading cable companies, ISPs and content owners globally.
Certain matters discussed in this press release are "forward-looking statements" intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. In particular, the Company's statements regarding trends in the marketplace and potential future results are examples of such forward-looking statements. The forward-looking statements include risks and uncertainties, including, but not limited to, the timing of projects due to the variability in size, scope and duration of projects, estimates made by management with respect to the Company's critical accounting policies, regulatory delays, clinical study results which lead to reductions or cancellations of projects, and other factors, including general economic conditions and regulatory developments, not within the Company's control. The factors discussed herein and expressed from time to time in the Company's filings with the Securities and Exchange Commission could cause actual results and developments to be materially different from those expressed in or implied by such statements. The forward-looking statements are made only as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstance.