Laser-Pacific Media Corporation Wins Fifth Emmy; Award Recognizes Development of the 24P High Definition Post Production System.

Business Editors

HOLLYWOOD, Calif.--(BUSINESS WIRE)--Oct. 17, 2001

Laser-Pacific Media Corporation (Nasdaq:LPAC) has been named recipient of a Scientific and Technological Emmy(TM) award for its significant contributions to the creation of the 24P High Definition technology that has become standard throughout the industry.

The National Academy of Television Arts and Sciences, in ceremonies held last night in New York, presented a 2001 Technological/Engineering Emmy Award to Laser-Pacific citing their "contribution to the advancement of television arts through unique technological innovation." Recognized and acknowledged world-wide for its role in creating and introducing important and beneficial new technologies for the creative community, this award marks the fifth such Emmy award for the Hollywood-based company.

In accepting the award, Laser-Pacific President Emory Cohen said, "This recognition is a significant acknowledgment of our vision of how a common digital post production system can serve the needs of program producers in the era of diverse digital distribution formats. The high definition 24P system that we created and architected has, almost overnight, become the industry standard for high definition prime-time post-production. Nearly every dramatic or comedy program currently being broadcast in high definition in prime-time has employed the system devised by Laser-Pacific."

In addition to Cohen, Randolph Blim, Laser-Pacific's Senior Vice President, Engineering, and Doug Jaqua, Vice President, Engineering, are credited with this achievement.

The system was a direct response by Laser-Pacific senior management to the 1997 FCC digital television specification, which allowed broadcast networks to implement multiple and incompatible digital formats. The Laser-Pacific 24P system created a practical and cost effective means for program producers and content owners, whether utilizing film or 24 frame digital production techniques, to create a common 1080-line high definition 24P master. This single "ultimate master" not only allows for the distribution of programs in any current analog, digital or high definition format, but will also accommodate the future high definition formats that are envisioned world-wide.

The engineering of the system began in January 1998. In June 1998, Laser-Pacific began meeting with manufacturers to secure a commitment to participate in its 24P project. Eleven manufacturers ultimately agreed to create the necessary 1080/24P elements to meet Laser-Pacific's operational target set for the beginning of the 1999/2000 television season. Participating in the project were Sony, Philips, Evertz, Nvision, Leitch, DaVinci, Tektronix, Leader, YEM, MTI, and Digital Vision.

"This award recognizes the complex development efforts and important contributions that were required to create a system that incorporates products from a diverse group of manufacturers, all of whom have their own significant engineering skills. I am extremely proud of how the Laser-Pacific technology team was able to lead the industry toward this considerable accomplishment," said Randolph Blim.

The 1080/24P post production system, including all in-house and externally-developed elements, was fully functional in July of 1999, meeting the target of the 1999/2000 television season. Using its 24P high definition system, Laser-Pacific completed eight prime-time episodic series in the 1999/2000 television season, ten prime-time episodic series in the 2000/2001 television season, and is currently at work on fifteen episodic series for the 2001/2002 television season. Additionally, Laser-Pacific has provided services on multiple television movies and miniseries post produced using the system. Significantly, the motion picture industry has begun utilizing 24P post production techniques in the creation of motion pictures, mastering for home video and for emerging digital cinema applications.

"For nearly 20 years, Laser-Pacific has distinguished itself by focusing on how technology and new techniques become powerful tools in the hands of the creative community -- it's been the role we play and the task we set for ourselves. This industry acknowledgment provides reinforcement that our vision is on track," said Leon Silverman, Laser-Pacific Executive Vice President.

"We are at a critical and exciting time in our industry," added Cohen. "It is a time when technology will increasingly impact production, post production and distribution. Laser-Pacific has been anticipating and preparing for this time for many years, from the original Electronic Laboratory(TM) concept that introduced electronic and digital post production to prime time television, to this most recent high definition 24P system. And in response to our work and ideas, we have been recognized five times with the very prestigious Engineering Emmy award. Much of the technology that is adopted in our industry begins and is proven in television and is then accepted by the motion picture industry. Our team excels at creating systems and staying focused on the big picture. And it is big pictures that excite us now -- we feel our best work lies ahead as our team brings its 20 years of excellence and leadership to motion pictures. In television they might say, stay tuned, but since we're talking about the movies, let's just say that there is no doubt that Laser-Pacific vision and technology will be coming soon to a theater near you."

About Laser-Pacific Media Corporation

Laser-Pacific Media Corporation is a premier media technology company providing one of the most comprehensive offerings of post production services to the motion picture, television and digital media industries. Well known as a leading provider of advanced high definition services to the entertainment industry, Laser-Pacific opened the world's first digital high definition facility in March 1998. Recognized for its pioneering work and technical innovations, the company has been awarded five Emmy(TM) awards for outstanding achievement in engineering development, as well as numerous awards for technical and creative excellence in the post production of television and the creation of DVD.