5th Avenue Channel Signs Agreement With IPO Financial Network; Companies Partner to Provide Ultimate Source of Financial Information.

Business Editors

MIAMI--(BUSINESS WIRE)--April 19, 2000

5th Avenue Channel Corp. (Nasdaq:FAVE) has formed a strategic partnership with IPO Financial Network, Corp. (IPOfn). Under the agreement, IPOfn will supply live or recorded video commentary about IPO news to investors via 5th Avenue Channel's television and Internet channels, Net Financial News and NeTVideoNetworks.com respectively. The information will be available live, via streaming video that is searchable on demand, as well as on NeTVideoNetworks' cable television via Comcast and DBS through the Dish network. The shows will be broadcast into more than 14 million homes.

"This strategic partnership positions our company as an industry leader in providing financial video content," stated Mel Rosen, President & Chief Executive Officer of 5th Avenue Channel. "Headed by David Menlow, the `IPO guru,' IPOfn's capabilities underscore our commitment to provide outstanding financial content on both television and the Web. In these volatile times, investors need to evaluate all sides of IPOs, including potential pitfalls. With David Menlow, NetVideoFinance.com now has access to the best advice in the business, directly benefiting on-line investors. This alliance was a natural for both companies as we share the vision for leadership in providing investors with the tools necessary to improve their financial futures."

Over the past two decades, David Menlow has earned a reputation as the most respected and reliable source for IPO information, appearing regularly as an expert source on CNBC television (Nasdaq:NBCI). Under his dynamic leadership, IPOfn will install and operate a video production facility at their headquarters, and provide a minimum of three clips per week, with at least one focused on market commentary and one related to pricing.

"Mr. Menlow creates content that is compelling for an on demand broadband world, where investors expect to get the information they want when they need it," stated Stuart Volkow, Internet VP at NeTVideoNetworks.

5th Avenue Channel's responsibilities under the agreement include uploading, encoding, storage, indexing and streaming of IPOfn clips and related activities. The two companies web sites will have direct links to each other. 5th Avenue Channel's website is www.netvideonetworks.com. The site maintained by IPOfn is www.IPOfinancial.com.

"Our partnership with 5th Avenue Channel is consistent with our strategy of providing up-to-the-minute financial news to investors all over the world," stated David Menlow, President of IPOfn. "We are enabling 5th Avenue to leapfrog past streaming audio right to the heart of Internet information with live, streaming video broadcast from their studios."

5th Avenue Channel may disseminate IPOfn clips to any other entity including parent, subsidiary or related companies including NetVideoNetwork and NewFinancialNews. Rights of inclusion include incorporation of clips into 5th Avenue Channel's archives, web sites, video players and television channel and the right to market, distribute and make such clips available to other web sites and individual Internet users.

5th Avenue Channel Corp. (Nasdaq:FAVE) operates its wholly owned subsidiary, NetVideoNetworks, Inc., which 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 operations in Wisconsin and Costa Rica and a Retail 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.