5th Avenue Channel Announces Launch of New Website Format and Video Portal.

Business Editors/Technology Writers

MIAMI--(BUSINESS WIRE)--March 23, 2000

5th Avenue Channel Corp. (Nasdaq:FAVE) announced today the soft launch of its new website format and video portal under the name NetVideoNetworks.com. The website is designed to be a video portal to the Company's streamed live television programming, its growing on-demand financial video and to other financial information and news of interest to the amateur and professional investor.

NetVideoNetworks.com includes news and financial information from the Company's own news team, Zacks Investment Research, and other sources. Financial services and products are provided by KeyTradeOnline.com, General Life Insurance, ITCareernet.com, Taxes4less.com, MonsterDaata.com and others. The site also includes a custom financial "MetaSearch" search engine designed by ThinkFind.com for NetVideoNetworks, a stock ticker and other useful features. Additional sources of news and data are being incorporated into the site to enhance the quantity and depth of content.

NetVideoNetworks.com gives the user direct access to the NVN Media Player, a video viewer that forms an integral part of the Company's efforts to be a major supplier of financial video content on the web. The NVN Media Player allows viewers to watch the Company's live television programming and to search through the NVN archived database of financial videos. These videos are supplied by the Net Financial News team, from the Company's production studios at Zacks Investment Research in Chicago, interviews with corporate executives, and from net cameras being placed in the offices of financial experts around the country. The archive already contains over 700 video clips and is growing daily.

"We are very proud of our new website design and production team who bring together a strong set of skills and experience," said Stuart Volkow, Vice President of Internet Business Development for 5th Avenue. "Our design structure is scalable and lets us build our database of video and textual content. Our encoding and satellite delivery systems are providing a high quality signal for our viewers as we prepare for the full convergence of the Internet and television."

5th Avenue Channel Corp. (Nasdaq:FAVE) is creating and aggregating television and video content available through television and in streaming on-demand form on the Internet. The Company also operates wireless cable systems in Wisconsin and Costa Rica and 5th Avenue Channel Retail, Inc. a business-to-business sales division that sells products to mass market retailers across the country.

This press release contains forward-looking statements. 5th Avenue Channel's actual results may differ materially from the results discussed, implied or forecasted in the forward-looking statements. Further information on the factors that could affect the actual results of 5th Avenue Channel Corp. are included in its Report on Form 10-K for the year ended December 31, 1998, which is on file with the Securities and Exchange Commission. 5th Avenue Channel Corp. assumes no obligation to revise or update any forward-looking statements contained in this press release.