Presentation to Audax Group September 2000 Strictly Confidential

Presentation to Audax Group September 2000 Strictly Confidential 1 WACHOVIA SECURITIES, INC.

Agenda I. Executive Summary II. Management Introductions III. The Company IV. Organization & Ownership Structure V. Financial Overview Strictly Confidential 2 WACHOVIA SECURITIES, INC.

iviewit…The Sights and Sounds of the Internet Imaging Link Audio Link Video Link Strictly Confidential 3 WACHOVIA SECURITIES, INC.

iviewit Executive Summary Developer and provider of proprietary, advanced digital imaging and video/audio streaming technologies -- at all bandwidths -- over the Internet, NOW n High-definition images with “scan, pan, and zoom” capabilities n High-fidelity audio streams n Superior video quality Strictly Confidential 4 WACHOVIA SECURITIES, INC.

iviewit Executive Summary n Focused intellectual property strategy » 6 patent pending applications filed in U. S. and abroad » 1 remaining patent application to be filed n Versatile technology applications and comprehensive revenue model » Platform agnostic imaging and video technologies » Process, store, host, distribute, and archive digital media…end-to-end strategy » Service and licensing revenue model n Rapid customer validation » 17 customers since May 2000 product launch » High profile customers with significant market presence n Poised for rapid growth » Seeking $15 to $25 million of growth capital Strictly Confidential 5 WACHOVIA SECURITIES, INC.

Management Introductions n Brian Utley, President » Former VP and GM of IBM Boca Raton (6, 000 professionals) » Developed and managed the world-wide launch of AS 400 and the PC n Eliot Bernstein, Founder and Executive Vice President » Former President of West Coast Division for SB Lexington » 15 years creating and developing multi-media marketing tools n Michael Reale, Vice President of Operations » » Former COO of Boca Research President of MGV Manufacturing Corp SVP for SCI Systems responsible for 7 worldwide operations Director of IBM PC Manufacturing Strictly Confidential 6 WACHOVIA SECURITIES, INC.

Management Introductions n Raymond Hersh, Interim Chief Financial Officer » Co-Founder & CEO of New Medical Concepts » 9 years as an investment banker for NYSE member firms » Branch Chief for SEC in New York City n James Armstrong, Vice President of Sales and Marketing » Former Owner and Principal of The Armstrong Group » National Sales Manager for Prudential Securities Life Agency n Kevin Lockwood, Vice President of Sales and Business Development » Former EVP of Cylex Systems » National Sales Manager for Acer America » Managed launch of Fujitsu PC in the U. S. n Guy Iantoni, Director of Sales and Marketing » 10 years of sales and marketing experience with Eli Lilly, MSDW, Fidelity Strictly Confidential 7 WACHOVIA SECURITIES, INC.

Company Milestones May 1999 Real 3 D Technology Audit March 1999 Filed 1 st Provisional Patent May 2000 Secured 1 st customer Hollywood. com September 1999 Raised $500 M from Huizenga Holdings March 2000 Filed 1 st non-provisional international patent August 1999 Hired President March 1999 Confirmed feasibility of fullscreen, full frame rate video September 1999 Launched website May 2000 Hired VP of Operations June 1999 Incorporated iviewit and raised seed capital Strictly Confidential February 2000 Raised $1 MM from Crossbow/Alpine Ventures 8 June 2000 Launched imaging and video products at Show. Biz Expo in LA WACHOVIA SECURITIES, INC.

Intellectual Property Strategy n Ensure protection of IP assets by filing timely applications n Utilize nationally recognized IP counsel to ensure maximum protection » Kenneth Rubenstein, Proskauer Rose, LLP » William Dick, Special Advisor to Foley & Lardner, LLP » Doug Boehm, Patent Counsel at Foley & Lardner, LLP n Establish market precedence through licensing of trade secrets and know-how Strictly Confidential 9 WACHOVIA SECURITIES, INC.

Patent Milestones March 1999 First Provisional Imaging Filing June 1999 First Provisional Video Filing August - December 1999 10 Additional Provisional Filings March 2000 First Non-Provisional Imaging Filing June 2000 4 Non-Provisional Video Filings August 2000 1 Non-Provisional Imaging Filing TBD 1 Non-Provisional Imaging Filing Strictly Confidential 10 WACHOVIA SECURITIES, INC.

iviewit Imaging Process iviewit’s imaging process is an enabling technology which creates an unparalleled, content-rich, viewing experience. Significant advantages include: n Photo-quality Internet images n Resistance to pixelation even at 30+: 1 magnification n Full-screen and panoramic viewing up to 360 o n Consistent quality regardless of the end-user’s Internet connection n File sizes of 30 Kb to 700 Kb for full panorama Strictly Confidential 11 WACHOVIA SECURITIES, INC.

Iviewit Imaging Process Source Image = si Aspect Ratio = siw / sih = sir (width of the image divided by the height of the image, in inches) The Viewing Window is the window, defined in pixels, within which is to be displayed the virtual image, scaled to fit. Viewing Window vww Strictly Confidential vwh Viewing Window = vw Viewing Window Aspect Ratio = vww / vwh = vwr Viewing Window width in pixels = vww Viewing Window height in pixels = vwh 12 WACHOVIA SECURITIES, INC.

Iviewit Imaging Process Viewing Image sir < vwr To fit the Source Image to the Viewing Window : vwh vih if sir < vwr then Viewing Image height (vih) = vwh Viewing Image width (viw) = vih * sir viw vww Viewing Image sir > vwr Compare the Source Image Aspect Ratio to the Viewing Window Aspect Ratio: vih vwh if sir >, = vwr then Viewing Image width (viw) = vww Viewing Image height (vih) = viw / sir vww viw Strictly Confidential 13 WACHOVIA SECURITIES, INC.

Iviewit Imaging Process Virtual Image Viewing Image vih virtih viw virtiw The Maximum Magnification Factor is defined as the ratio of the Virtual Image area to the Viewing Image area. This ratio will determine the amount of zoom available without causing the image to distort due to fewer pixels in the image being displayed than available in the Viewing Window. Maximum Magnification Factor = mmf Viewing Image area = viw x vih = via Virtual Image area = virtiw x virtih = via x mmf = virtia To obtain the Virtual Image width and height: virtiw = virtia * sir virtih = virtiw / sir Strictly Confidential 14 WACHOVIA SECURITIES, INC.

Iviewit Imaging Process Virtual Image Viewing Window vwh virti A zoom to the maximum level will be shown in the Viewing Window as shown below. By panning the Viewing Window, every portion of the Virtual Image may be viewed from each level of zooming. vww virtiw Strictly Confidential 15 WACHOVIA SECURITIES, INC.

Video Quality Parameters At any given bandwidth, video quality is dependent upon all the following parameters being optimized: n Picture size: Full-screen objective n Frame rate: 30 frames/sec n Motion artifacts: Fluid motion; minimum artifacts n Brightness: Adequate gamma correction n Color: Fidelity (minimum wash-out) n Audio quality: Lack of muddiness; stereo imaging n Audio sync: Audio video tracking n File size: Minimum for a given quality level Strictly Confidential 16 WACHOVIA SECURITIES, INC.

iviewit Video Process n Industry practice has been limited to 160 x 120 and 240 x 180 frame size in order to achieve acceptable video quality. n Iviewit developed a process through which it has greatly expanded the industry standard for video quality. This process: » is based upon a consistently applied frame size of 320 x 240 throughout the digitizing and encoding process and » delivers to the encoding step a pre-processed file which increases the efficiency of the encoding step by maintaining the integrity of all source parameters. n As a result of this process, iviewit is able to deliver consistently superior video product in full-screen. n iviewit is continuing to develop pre-processing techniques that will further enhance video quality. Strictly Confidential 17 WACHOVIA SECURITIES, INC.

iviewit vs. Industry Comparison Strictly Confidential 18 WACHOVIA SECURITIES, INC.

Business Strategy n Become a leading, end-to-end solutions provider n Partner with selected customers and technology leaders n Hire high-impact CEO from the media/entertainment industry n Hire CTO, CFO, and marketing executive n Build recurring licensing and service revenues n Provide superior service through product innovations n Expand IP base through R&D and/or acquisitions n Bring on strategic industry investors Strictly Confidential 19 WACHOVIA SECURITIES, INC.

Marketing Strategy n Target high profile content owners and distributors n Co-brand with famous celebrities and entertainers n Initial target markets include: » » » Advertising / e-Commerce Auction and Collectibles Entertainment: Film and Music e-Learning and Distance Learning Hotel and Resorts Luxury Items Modeling Sports Healthcare n National print media campaign targeting corporate decision-makers n National B 2 B public relations campaign n Target market trade show presence n Establish regional offices in CA, NY, and IL Strictly Confidential 20 WACHOVIA SECURITIES, INC.

Current Customer List Signed 17 clients in 4 months following the May 2000 product launch Current clients include: » » » » High-probability prospects include: » » » » Alanis Morissette Broadway. com Ellen De. Generes Gear Magazine (Guccione Media) Hollywood. com Hyatt Hotels & Resorts Virtual Education Z. com Broadband Services Corp. Dovebid/DSI Greg Manning Auctions MTV/Viacom SDI-Media Universal Studios Versifi Warner Brothers In addition, iviewit is in high-level discussions with 25 other potential clients Strictly Confidential 21 WACHOVIA SECURITIES, INC.

Strategic Partners n B 2 B & B 2 C » n n Atlas Entertainment Healthcare » n Medical Online Exodus Digital Island Burst. com * n Versifi * Virage * Cura Group SDI-Media * Production Services » » Hosting » » » OEM / Resellers » » Greg Manning Auctions Entertainment » n n Documentation Services Int’l Five Star Productions * Technology Partners » » Burst. com * Virage * * Pending Strictly Confidential 22 WACHOVIA SECURITIES, INC.

Target Milestones 4 Q 2000 Establish Los Angeles office n Hire CEO n Hire SVP of Sales/Marketing n Hire CTO and CFO n Launch branding campaign n Establish Chicago and NYC office n Close 1 st technology license n Introduce technology enhancements n Establish Dallas office n 3 Q - 4 Q 2001 Secure growth capital n 1 Q - 2 Q 2001 n Reach annualized sales runrate of $7. 2 MM Strictly Confidential 23 WACHOVIA SECURITIES, INC.

Organization Structure n Privately held, Delaware C-Corporation n Headquartered in southeast Florida n 19 employees Strictly Confidential 24 WACHOVIA SECURITIES, INC.

Board of Directors n Simon Bernstein (Chairman Emeritus) n Brian Utley n Eliot Bernstein n Ken Anderson » » » n n » My. CFO Partner, Arthur Andersen Private Client Services Director of Schaeffer Autosimulation n Managing Director at Goldman Sachs n Director of Versifi, Ergo Systems, and Kellogg Graduate School of Mgmt. CPA and Senior Partner of Goldstein Lewin & Co. Hank Powell » » » 25 Vice Chairman of Sagence Systems Gerald Lewin » CEO of Emerald Capital Partners Drexel Burnham Kidder Peabody JW Genesis Strictly Confidential President of GDI, holding company of 4 B 2 B companies » » » Maurice Buchsbaum » » Donald Kane MD of Crossbow Ventures Senior Technology Analyst of Southeast Research Partners Mc. Kinsey & Co. and J. P. Morgan WACHOVIA SECURITIES, INC.

Advisory Board n Eric Chen n Kenneth Rubenstein » President of Emerald Capital Partners » Partner and patent attorney at Proskauer Rose, LLP » Investment banking background » » MPEG-2 patent pool member – Furman Selz – Hambrecht & Quist n – Fechtor Detwiler n Christopher Wheeler » – Southeast Research Partners Legal staff at Bell Labs Partner at Proskauer Rose, LLP Alan Epstein » Partner of Armstrong Hirsch Jackoway Tyerman & Wertheimer Strictly Confidential 26 WACHOVIA SECURITIES, INC.