5th Avenue Channel Inc. Debuts Its Provisionally-Patented `VIPER' Technology in the World's First Live Video to Web Broadcast of Races at Key West Yachting Race Week.

Business Editors/High-Tech Writers

NORTH MIAMI, Fla.--(BUSINESS WIRE)--Jan. 12, 2001

5th Avenue Channel Inc. (Nasdaq:FAVE)debuts its provisionally-patented "VIPER" technology in the world's first live video to web broadcast of races at Key West Yachting Race Week (www.keywestraceweek.com.) on Monday, January 15th from 11AM to 3PM EST. The event can be viewed on Fifth Avenue Channels web site; www.netvideonetworks.com.

The "VIPER" (Video to Internet Protocol Encoding in Real-time) is an outboard, portable, device allows any video camera to become a wireless streaming encoder and video server. "We developed the VIPER to meet the needs of field producers around the world for a cost effective alternative to traditional, expensive and cumbersome wireless broadcast production equipment, said Richard Crosby, inventor and Director of Research and Development for 5th Avenue Channel Inc. "For the first time, it's possible to shoot, encode, and serve, multiple formats, and multiple bit rate, quality video right from the camera, and deliver it wirelessly to any IP connection."

"The potential for this device is enormous." Said Stuart Volkow, VP of Business Development. "This is a boon to live sports television, and internet webcasting. It also has applications to the military, electronic surveillance, and the billion dollar electronic news industry. We will be replacing microwave, satellite, and fiber delivery of video at a fraction of the cost."

The first live demonstration of the device will be coverage of one of Yachting's largest events, Key West Yachting Race Week. Jim Clark, from 5th Avenue Channel, will be producing the webcast. "By covering a Yacht Race we are able to show the portability and versatility of the device under difficult field production conditions. We plan to be offshore, shooting the races from a chase boat close to the action. Its this kind of cost effective, versatile, production that has the potential to make Yacht Racing, and other adventure sports-live television spectator events," commented Mr. Clark.

5th Avenue Channel Inc. has licensed the technology for parts of Europe for over $200,000, and is seeking additional licensees, manufacturing, and distribution partners to complete development, and commercialization of their wireless streaming video device.

About the 5th Avenue Channel

5th Avenue Channel Corp., through its Net Video Networks division, is creating and aggregating television and video content available through streaming on-demand form on the Internet. The company owns financial news programming, Net Financial News (TM), and operates a wireless cable system in Wisconsin 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 statements that are forward looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. When used in this press release the words "believes," "plans," "estimates," "expects," "intends," "anticipates," "may," "will," "should," "could," and other similar expressions are intended to identify forward-looking statements. All forward-looking statements are based largely on current expectations and beliefs concerning future events that are subject to substantial risks and uncertainties. Actual results may differ materially from the results suggested herein. 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-KSB for the year ended December 31, 1999, and the most recent form 10QSB for the quarter ended September 30, 2000, which are on file wit 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.