Avid Wins Multi-million Dollar Deal at TVB Hong Kong; World's largest producer of Chinese-language programming chooses Avid digital newsroom environment.

Business Editors/High-Tech Writers

TEWKSBURY, Mass.--(BUSINESS WIRE)--Jan. 9, 2003

Avid Technology, Inc. (NASDAQ: AVID) today announced the sale of digital news production solutions to Television Broadcasts Limited (TVB), Hong Kong, the world's largest producer of Chinese-language programming. The solutions are for TVB's TKO news operations. Terms of the deal were not disclosed.

Following an extensive two-year review of competitive offerings, TVB selected Avid's end-to-end digital news production solutions for implementing a complete broadcast workflow. The solutions will provide a range of new capabilities to TVB, including direct media ingest, journalist collaboration, simultaneous real-time editing, newsroom production, shared storage, and play-to-air. The new systems - which offer fast access to media with features such as high-resolution clip-browsing anywhere in the newsroom and program editing during the ingest process - dramatically increase news workflow and production capacity, and enable journalists to handle breaking news stories with greater accuracy and ease.

"TVB's primary goal with an end-to-end digital news system is to enhance the workflow using the most suitable technologies available today," said John Yip, project manager, TKO Project. "After an exhaustive search, we selected a solution using Avid's broadcast news production environment."

"This is the largest Asian broadcast deal for Avid to date," said Andrew Thornton, Avid's vice president of Asian Sales & Operations. "It signifies the global appeal of Avid's solutions and is a testament to our growing reputation for developing the industry's best nonlinear workflow solutions for improving productivity and efficiency in both postproduction and broadcasting environments."

The sale gives TVB a highly flexible, collaborative workflow within and across its operations. Avid(R) systems purchased include an Avid Unity(R) for News system with 14.6 terabytes of shared storage, Avid Media Browse(TM) journalist video editing seats for low-resolution browse and editing, Avid NewsCutter(R) Effects systems for craft news editing, Avid AirSPACE(TM) video server systems for ingest and playout, and Avid Media Composer(R) systems for editing in the promotions department.

"Future expansion of the system has been factored into the design to cater to business expansion, such as adding NLE workstations," said Yip.

TVB joins a global list of broadcasters who have chosen end-to-end Avid nonlinear news production environments, including ABC World News Tonight, TV Azteca, and France Televisions.

About TVB

Television Broadcasts Limited, commonly known as TVB, is the first wireless commercial television station in Hong Kong. It was first established in 1967 with only about 200 staff. The Group has now grown to a size of about 5,000 including contract artistes and staff in overseas subsidiary companies.

The major activities of TVB are television broadcasting, program production and other broadcasting related activities such as program licensing, video distribution and satellite broadcasting. It transmits about 14,000 hours of programming on its Chinese Jade channel and English Pearl channel free of charge to more than 2.1 million homes in Hong Kong. A majority of the Chinese programs are dubbed into other languages and are distributed to more than 30 countries and approximately 30 million people every day.

About Avid Technology, Inc.

Avid Technology, Inc. delivers the solutions that Make, Manage and Move Media(TM). As a recognized digital standard for professionals who Make the world's media--from video, audio and film to animation, special effects and streaming media--Avid's products are used to make more television and news shows, commercials, music videos and CDs, corporate/industrial productions and major motion pictures combined than any other nonlinear editing manufacturer in the world. Building on its award-winning heritage, which includes several Emmy(R) awards as well as an Oscar(R) statuette representing the 1998 Scientific and Technical Award for the concept, design and engineering of the Avid Film Composer(R) systems for motion picture editing, Avid is extending its reach by redefining how digital media is shared, stored and distributed. To Manage today's increasingly rich collection of dynamic media, Avid provides powerful servers, networks and media tools to help customers search files, share media and collaborate on new productions, both locally and globally. Avid's solutions also empower users to easily Move media, whether on air, over cable or satellite or through the Internet. Like no other media company today, Avid's end-to-end solutions span the continuum of media creation, management and distribution. The company's corporate headquarters are located in Tewksbury, MA.

(C) 2003 Avid Technology, Inc. All rights reserved. Product specifications and availability are subject to change without notice. Avid, Avid Unity, Film Composer, Media Composer, NewsCutter, AirSPACE, and Make, Manage and Move Media are either registered trademarks or trademarks of Avid Technology, Inc. in the United States and/or other countries. Media Browse is a trademark of iNews, LLC. Oscar is a registered trademark and service mark of the Academy of Motion Picture Arts and Sciences. Emmy is a registered trademark of ATAS/NATAS. All other trademarks contained herein are the property of their respective owners.