Streaming Media Corporation to Provide Streaming Delivery Network Services for New Web-TV Convergence.

Business Editors

ENGLEWOOD CLIFFS, N.J. & TORONTO--(BUSINESS WIRE)--Feb. 23, 2001

Streaming Media Corporation (SMC), the premier Broadband Media Delivery Network, and U8TV, Canada's first Internet TV Channel, today announced the record success of the first month as the streaming partner for U8TV, utilizing Microsoft's Windows Media Player format.

U8TV is a joint venture between Canadian-based firms TVForReal and Alliance Atlantis Communications, Inc.

U8TV.com produces three hours of original information, lifestyle and entertainment programming daily. This is overlaid with the real-life experiences of eight young people living, working and interacting with viewers 24 hours a day in a fully wired loft that includes a state-of-the-art Internet TV broadcast facility, complete with 21 cameras. The experiences of the lofters are also packaged into a half-hour daily television program for broadcast on Alliance Atlantis' Life Network.

SMC helped design and configure U8TV's on-site encoding environment that is connected directly to SMC's North American Media Delivery Network. Rick Murphy, President and CEO of SMC, is extremely enthusiastic about this venture with U8TV. "As far as we know, there is no other show like it, where original material on the Web is edited for the show that's airing on traditional cable TV. I believe this is the birth of a whole new generation of entertainment, and SMC is proud to be providing our high-quality and dependable delivery of U8TV's broadband programming to web users worldwide."

Lili Shalev, President and co-founder of TVForReal, said that developing a solid business strategy for U8TV.com was a key priority in ensuring its success. "We knew there was great potential for an Internet-driven television network like U8TV.com and that it would be a win-win for a broadcaster and a new media company," she said. "Now that it's launched, U8TV.com is a showcase of TVForReal, Alliance Atlantis' and SMC's collective experience in the areas of new media, streaming, broadcasting, entertainment and advertising. It's a powerful combination that few organizations can match."

About Streaming Media Corporation

Streaming Media Corporation (SMC), a privately held Delaware corporation headquartered in Englewood Cliffs, New Jersey, operates one of the largest-volume Media Delivery Networks(SM) in the world. SMC provides specialized broadband Streaming Media Network Services(tm) to website owners, private label re-sellers, various network partners, and strategically allied companies in North America, Asia, and Europe.

SMC's 20,000-square-foot Streaming Origination Center (SOC) in Denver is the world's largest satellite reception facility dedicated solely to streamed media, with 25 satellite dishes capable of aggregating programming from any domestic, Asian, or European satellite with a North American footprint. All live signals can be encoded simultaneously, in real time, and streamed live to any broadband connected web user worldwide. Additionally, the SOC is designed to digitally process and encode previously taped programming, utilizing the latest broadcast grade video equipment, and then store it for on-demand streaming delivery via SMC's distributed serving network. For more information on SMC, please visit www.smc.net or call our toll free number, 1-866-256-1203.

About TVForReal

Based in Toronto, Canada, TVForReal specializes in the development of filmed entertainment for convergence - melding Internet and television programming - beginning with the launch of U8TV.com. U8TV.com is a joint venture between TVForReal (49 percent) and Alliance Atlantis Communications Inc. (51 percent).

About Alliance Atlantis Communications Inc.

Alliance Atlantis Communications Inc. is a leading broadcaster, creator and distributor of filmed entertainment with significant ownership interests in eight Canadian specialty television networks. The Company's principal business activities are conducted through three operating groups: Broadcasting, Motion Pictures and Television. Headquartered in Toronto, Alliance Atlantis Communications Inc. operates offices in Los Angeles, Edmonton, Montreal, Shannon, London and Sydney. The Company's common shares trade on the Toronto Stock Exchange - trading symbols AAC.A, AAC.B and on NASDAQ - trading symbol AACB. The Company's Web site is www.allianceatlantis.com

Alliance Atlantis currently owns, either wholly or in part, eight specialty television networks - Showcase, Life Network, Home & Garden Television (HGTV Canada), History Television, Series+, Historia, Headline Sports and Food Network Canada. Additionally, Alliance Atlantis is the exclusive sponsor in Canada for the U.S.-based The Health Network.