Bluestreak Network Closes $8 Million C-Round Funding; Leading Mobile TV Technology Firm to Meet Growing Demand by Opening New Offices in Europe and Asia.

MONTREAL -- Bluestreak Network, Inc., a leading provider of mobile TV and digital television technology, today announced the completion of $8 million in C-Round equity financing by internal investors Solidarity Fund QFL, BDC Venture Capital, and First Capital Group. Proceeds will be used to expand development of the company's award-winning MachBlue(TM) platform and to increase sales and engineering efforts in Europe and Asia.

"The growth in Europe and Asia has been explosive in all areas of Bluestreak's core business, including mobile, IPTV, cable, and satellite," said Jacques Bernier, SVP information technologies, telecommunications, and industrial innovations at Solidarity Fund QFL. Steven Abrams, director, BDC Venture Capital, added: "Opening two new offices in Paris and Hong Kong is the logical next step in taking the Bluestreak brand worldwide and continuing the company's rapid rate of expansion."

Paul Forostowsky, CEO of Bluestreak Network, identified several key trends that are driving the adoption of Bluestreak's technology, including the need of network operators to create complete user interfaces/MMIs for an ever-wider range of devices, and continuing consumer demand around the world for more intuitive ways to download, manage, and replay music and video, even when no connection to the network is available.

"During the past year, Bluestreak has established itself as the market leader in rich-media mobile TV applications, particularly because we have bridged the gap between DVB-H, 3G, and HSDPA technologies," said Mr. Forostowsky. "This latest round of funding will allow us to make further investments to port MachBlue to an ever-growing list of devices, and to expand our global sales, support, and localization services in direct response to operator and OEM demand."

About Bluestreak Network, Inc.

Bluestreak Network is the creator of the award-winning MachBlue(TM) platform, which powers sophisticated applications and user interfaces on mobile phones and television set-top boxes. The MachBlue platform gives network operators and OEMs the power to create engaging, rich-media user experiences (UX). Customers include leading operators such as Orange, Time Warner Cable, and Videotron.

Bluestreak recently won top honors in the Orange Partner Innovation Contest, an accolade awarded to the "Best of the Best" in innovative mobile products, services, or technology concepts. www.bluestreaknetwork.com

About Solidarity Fund QFL

With assets of $6.6 billion, the Solidarity Fund QFL is a development capital fund that through its RRSP channels the savings of Quebecers into investments in all sectors of the economy to help create and maintain jobs and contribute to Quebec's economic development. The organization is a partner, either directly or through its network members, in 2,184 companies. The Fund currently has more than half a million shareholders and has helped, on its own or with other financial partners, create, maintain and support over 115,000 jobs. www.fondsftq.com

About BDC Venture Capital

BDC Venture Capital is a major venture capital investor in Canada, active at every stage of the company's development cycle, from seed through expansion. Its focus is on technology-based businesses that have high growth potential and that are positioned to become dominant players in their markets. Established in 1975, BDC Venture Capital has invested in over 400 different companies to date. It currently manages more than $550 million in venture capital investments in the areas of Life Sciences, Telecommunications, Information Technology, Advanced Technologies, and Funds Investments. www.bdc.ca

About First Capital Group

First Capital Group is a private investment firm that provides equity capital to companies that fall into three general investment categories: early-stage, expansion-stage, and management buyouts and special situation investments in small and middle-market companies at more mature growth stages. Since its inception in 1984, the principals of First Capital Group have established an outstanding record of accomplishments and reputation for assisting management of its portfolio companies in such areas as planning, capital formation, capital budgeting, merger and acquisition evaluation, and planning and executing exit strategies. www.firstcapitalgroup.com

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements that are not historical facts, including statements about confidence and strategies and plans and expectations about new and existing products, services, technologies and opportunities, industry growth, demand, and acceptance of new and existing products, and returns on investments in products and markets are forward-looking statements that involve risks and uncertainties that could significantly impact the companies. These statements are not guarantees of future performance, and actual results could differ materially from current expectations.