Company Press Release

iClips One of 26 Companies Selected to Present at NYNMA's Venture Downtown

- Chosen From Among 400 Competitors for Prestigious NY Venture Event. -

NEW YORK, April 27 /PRNewswire/ -- iClips Inc., the developer of a free, Web-based streaming video messaging service, was selected as one of 26 new media companies to pitch at NYNMA's Venture Downtown, being held on May 1, 2000 at the Hilton NY. The 26 companies were selected from 400 applicants after a rigorous screening process. NYNMA's Venture Downtown is recognized as the premier Venture Capital event in New York City, attracting nearly all of the major New York investors. Past presenters include Agency.com, Kozmo and Flooz.

iClips Inc. has developed a free Web-based streaming video messaging service that gives all Web users the ability to send and share streaming video messages by email and in online communities. The service is primarily marketed to distribution partners, such as large online communities and portals, where iClips tools and video messages are offered to their users in a co-branded environment. People can also use the service at the iClips Web site at http://www.iclips.com. The service derives revenues from streaming video advertising, e-commerce and subscriptions, and membership grows in an exceptionally viral manner.

``iClips joins past Venture Downtown success stories such as Hotjobs.com; Kozmo.com; Agency.com; Flooz.com; and iVillage and is well poised to succeed as they did,'' said Alice Rodd O'Rourke, Executive Director of NYNMA. ``This 4th Venture Downtown Conference has been the most competitive yet.''

``We are extremely excited to be a presenting at NYNMA'S Venture Downtown,'' said iClips CEO, Michael Diamant. ``Venture Downtown is the largest and most prestigious group of investors I've ever pitched. I also see our selection as a partial validation of our business model, which is unique, and our company, which is poised to help transform Web communications.''

About the Company

iClips was founded in October 1999 by President and CEO Michael Diamant, who most recently served as founder and President of T3 Media, Inc., a leading New York interactive agency. iClips is a privately-held New York corporation headquartered at 584 Broadway, Suite 610, New York, NY 10012. For more information visit the company's website: http://www.iclips.com or contact iClips at 212-625-8444 or at info@iclips.com.