Business Wire and Medialink Combine Powerful Online Resources to Form Newstream.com.

NEW YORK--(BUSINESS WIRE)--August 5, 1999--

Joint Venture to Create First Internet Portal Offering Multimedia

Content to Multimedia News Sites

Business Wire and Medialink Worldwide Incorporated (Nasdaq: MDLK) announced Thursday that they have formed a joint venture to build a comprehensive Internet portal for the delivery of multimedia news releases to Internet news sites worldwide.

The new venture, Newstream.com, vastly expands and renames the portal announced by Medialink on June 18.

Newstream.com will distribute news releases, streaming audio and video, live webcasts, photographs, corporate graphics and logos, financial information, and other content required by the more than 6,000 online news sites. The service will be marketed and sold to clients of both Business Wire and Medialink and is scheduled to launchrate news content from a dramatically larger number of potential clients. The service will benefit from a co venture quadruples the sales horsepower that will be focused on Newstream.com," said Laurence Moskowitz, prenew service will be aggressively marketed has jaudio and still photography, and to strengthen the new portal service. Its content will include daily financial analysis and commentary in streaming video toh Television will occupy a premiere business neces represented by this joint venture, Medialinct."

"From the dawn of the Internet age, B with our Smart News Release, at the same time that Medialink has developed cutting-edge solutions for web-rs corporate communicators with the most dynamic,ech industry, Business Wire brings a potentially vast client base to this joint venture."

Medialink's om, the Company's home page.

Business Wirel offices throughout the world. Its 1999 billings are estimated at $100 million. Business Wire distributes mo clients.

Medialink has produced and distr Medialink provides 26 sales professionals, alonillion, a 48% increase over the previous year. s sites. A dedicated team of media relations and research staff has been deployed to build the most comprehensive database of Internet news contacts available anywhere.

Business Wire and Medialink equally own the Newstream.com joint venture, which will be operated by a management team drawn from both companies as well as outside hires. A Board comprised of Tamraz, Moskowitz, McWhirter and Michael Lissauer, senior vice president/marketing of Business Wire, with Ann Lokey, director of research and development, of Business Wire as Secretary, will oversee the Joint Venture.

Medialink is the world leader in providing communications solutions to corporations through television, radio and the Internet. It provides traditional broadcast production and distribution services for its clients to thousands of television and radio stations and Internet news sites, as well as streaming media services to desktops worldwide.

In addition to broadcast media services, the company also provides press release and still photography services, as well as tracking and analysis of print and broadcast news coverage to help its clients understand how they are perceived in the media, including the Internet, and to gauge the effectiveness of their public relations efforts.

Medialink, founded in 1986, is based in New York and maintains offices in Los Angeles, Washington, DC, Chicago, Dallas, Atlanta, San Francisco, Norwalk, CT, and Portsmouth, NH; its international division based in London; and a network of affiliates in more than 18 countries in Europe, Asia, the Pacific Rim and Latin America. Offices can be contacted via the Internet at www.medialink.com.

Founded in 1961 by its president, Lorry I. Lokey, veteran journalist and public relations executive, Business Wire, the global leader in news distribution, is the leading source of news on major U.S. corporations, including Fortune 1000 and Nasdaq companies.

The company electronically disseminates full-text news releases for public and investor relations professionals simultaneously to the news media, the Internet, online services and databases, and the investment community worldwide.

Business Wire is on the cutting edge of communications technology and www.businesswire.com, recognized as the premier newswire Internet site, is a pioneer in shaping the future of the interactive use of the Internet. The company introduced the Smart News Release in November 1997, which revolutionized the communications process by embedding myriad options within the conventional news release.

The company has 26 offices throughout the United States, an office in Brussels and reciprocal offices throughout the world.

With the exception of the historical information contained in the release, the matters described herein contain forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve various risks that may cause actual results to differ materially. These risks include, but are not limited to, the ability of the Company to grow internally or by acquisition, and to integrate acquired businesses, changing industry and competitive conditions, significant fluctuations in exchange rates, and other risks outside the control of the Company referred to in the Company's registration statement and periodic reports filed with the Securities and Exchange Commission.