Akamai to Acquire Network24 Communications to Extend Broadband Streaming Media Leadership.

Business & Technology Editors

CAMBRIDGE, Mass.--(BUSINESS WIRE)--Jan. 18, 2000

Acquisition to Advance Distributed Streaming Media and

Interactive Applications on Akamai's EdgeAdvantage Platform

Akamai Technologies (NASDAQ: AKAM), the foremost provider of global, high performance services for the delivery of Internet content, streaming media, and applications, announced today it has signed a definitive merger agreement in which Akamai will acquire privately held Network24 Communications in a transaction valued at $200 million based on Akamai's Friday, January 14 closing price.

With this acquisition, Akamai extends its EdgeAdvantage(TM) platform to provide corporations, media, and entertainment companies the ability to conduct and manage live and on-demand Internet broadcasts such as distance learning, corporate communications, sales presentations, and interactive concerts, in an easy, effective, and highly interactive way while realizing significant return on investment. For customers, the resulting cost savings and benefits include a reduction in expenses for travel, time, and materials for business communications; real-time audience profiling; and maximizing effectiveness of Webcasts by incorporating reporting data, to name a few.

Key capabilities of Network24's self-service Web-based application Qcast(TM) include:

- Audience management - including an integrated and automated

promotion, audience acquisition, and registration system;

- Broadcast management - with live encoding, live program

moderation, synchronization of program content, automated

archiving for on-demand viewing, and pay-per-view and restricted

access capability;

- Network management - including replication, security, control,

and monitoring of live streams; and

- Navigation and feedback - with live Q&A, chat, survey, program

guide, site search, data analysis, and detailed reporting on

program registration and real-time audience feedback.

Content providers and end users worldwide will benefit from the marriage of Akamai's high-performance, global network of over 2,000 media servers on more than 100 networks in over 40 countries, and Network24's Qcast streaming media technology and services.

"We are thrilled to be able to bring to the marketplace a unique and comprehensive solution for Web content providers that are ready to produce a dynamic, interactive broadband media experience for their users," said Akamai chairman and CEO George Conrades. "The integration of Network24's comprehensive applications as part of our EdgeAdvantage platform is a significant step forward in fulfilling our vision of delivering a better Internet. By adding this powerful e-Business tool to our value-added services platform, we are enabling corporate and entertainment sites alike to provide new and compelling interactive Web functionality."

Network24 has attracted the attention of industry leaders, analysts and customers, and has already delivered hundreds of live and on-demand Internet broadcasts for leading businesses including Hewlett-Packard Company and IDG. Microsoft Chairman Bill Gates, during his keynote speech at the recent Streaming Media West conference, featured the capabilities of Network24's Qcast application as he spoke on "Empowering the Knowledge Worker." Gates discussed how HP uses Qcast to extend the reach and richness of targeted information to employees, customers, and partners. To see a demo, please visit www.network24.com.

HP selected Network24's Qcast to enhance product introductions, increase the effectiveness and reach of its communications, and significantly reduce costs. "To effectively communicate our e-services strategy for the next generation of Internet computing, Hewlett-Packard needed to revolutionize the way we marketed to customers and employees alike," said Nick Earle, vice president and chief marketing officer of enterprise computing for HP and head of the company's new e-services solutions group. "We found that Network24's e-broadcasting applications provided the most advanced end-to-end solution in utilizing a new technology in a meaningful, results-oriented fashion."

Network24's CEO and Founder Dan Fraisl said, "Our vision for enabling the Internet to become the next broadcast medium will be greatly accelerated by joining forces with Akamai. What is exciting is that the combination of Network24's application service and Akamai's powerful delivery network will provide customers with the most complete Internet broadcasting solutions available today. Of particular significance to our broadband streaming future is Akamai's rapidly growing coverage of major DSL, cable, and satellite networks."

The transaction will be completed primarily in a stock-for-stock merger in which Akamai will issue shares of stock valued at $230 per share. The rest of the transaction will include $12.5 million in cash for a total value of $200 million. Network24's Dan Fraisl will continue to head the efforts of the newly acquired company.

About Network24 Communications

Network24, based in Cupertino, California, provides the only automated application service enabling commercial Web sites to combine the media richness of TV and the interactivity and measurability of the Web. Network24 delivers comprehensive Internet broadcast solutions for enterprises, Internet content providers and value-added partners. Network24 is seeking partnerships with leading edge companies looking to change the way they reach and interact with their audiences, and is already working with innovators like Hewlett-Packard and IDG, among others.

About Akamai

Akamai Technologies is headquartered in Cambridge, Massachusetts, and has offices in San Mateo, California and subsidiaries in Europe. Akamai provides global Internet content, streaming media, and applications delivery services for hundreds of customers, improving Web site speed and reliability and enabling richer, more engaging Web site content. To date, Akamai has delivered millions of high-quality audio and video streams. Currently, Akamai has deployed 2,000 servers in 40 countries across 100 different telecommunications networks. Akamai (pronounced AH kuh my) is Hawaiian for intelligent, clever and cool.

The release contains information about future expectations, plans and prospects of Akamai's management that constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors including, but not limited to, the dependence on Akamai's Internet content delivery service, a failure of its network infrastructure, the complexity of its service and the networks on which the service is deployed, the failure to obtain access to transmission capacity and other factors that are discussed in the Company's Registration Statement on Form S-1 and other documents periodically filed with the SEC.