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Venture Funding, Board Positions, New Corporate Name, and World Class
 Development Team Also Announced
 SAN FRANCISCO, Jan. 17 /PRNewswire/ -- MNI Interactive(TM), formerly MusicNet Inc., today announced that it is developing an interactive entertainment information system for broadband interactive television that will make it easy for consumers to select and purchase entertainment products. The company also formally announced the close of its first round of financing, changes to the board of directors, and the hiring of a cutting-edge development team to design the interface of its broadband cable system.
 Broadband Development
 With broadband digital pipelines on the horizon -- potentially in as many as 15 million homes by 1997 -- vast amounts of information will be delivered interactively to people's homes. In this environment, consumers will need assistance to find the information they want.
 MNI Interactive's mission is to guide consumers through the maze of entertainment product choices and enable them to make the best possible purchase decisions. The company will accomplish this by developing an interactive cable service that combines a sophisticated interface, personalized guidance and recommendations, in-depth editorial and product sampling, promotional benefits, and convenient home delivery at a reasonable price.
 MNI Interactive is currently developing its interactive cable service for testing in one or more of the broadband cable trials planned by leading communication, technology and media companies this year.
 Financing and Board Positions
 With the close of its first round of financing, MNI Interactive raised $3 million. Two prominent venture capital firms -- Kleiner, Perkins, Caufield & Byers, and The Mayfield Fund, both of Menlo Park, Calif. -- are the principal investors.
 Timothy Mott, co-founder of Electronic Arts and chairman of Macromedia Inc., has been named chairman of the board. Mott is joined by two new directors: L. John Doerr, partner of Kleiner, Perkins, Caufield & Byers; and David Horowitz, formerly of Warner Communications and MTV: Music Television.
 "Through my relationships with Electronic Arts and Macromedia, I've come in contact with a broad range of interactive multimedia products and services," Mott said. "MNI Interactive is one of the most compelling companies I've been exposed to."
 Development Team
 Led by vice president of engineering John Worthington -- an Apple Computer veteran best known as the project leader for QuickTime(TM) -- MNI Interactive's engineering department announced that Dr. Michael Mills, David Vronay and Leo Degen will join the company to pioneer the development of its interface design for interactive cable.
 Dr. Mills, one of the world's leading experts in interface design, comes most recently from Apple Computer where he was a principal scientist in Apple's Advanced Technology Human Interface Group. While at Apple, Mills and his team also built some of the first applications for capturing, annotating and editing digital video on the Macintosh, and went on to use these applications in designing Apple's multimedia extension, QuickTime. David Vronay and Leo Degen are both software and interface designers from Apple Computer where they most recently worked under Dr. Mills to design and develop authoring and interface concepts as part of the HyperMovie(TM) team.
 In September 1993, MNI Interactive put into test its flagship brand MusicNet(TM) in Sacramento, Calif. MusicNet is a comprehensive music information and previewing system that allows subscribers to learn about and try the latest music by using their telephones. With MusicNet, subscribers can sample over 3,000 of the latest CDs, hear descriptions of artists and albums, get up-to-date concert and new release information on their favorite artists, and order albums for home delivery -- all with a local call. Subscribers can access the service anytime and can stay on the line for as long as they like.
 While developing its broadband cable system, MNI Interactive also recognizes the value of marketing its services using existing technologies. "Everyone is talking about interactive systems but no one knows how consumers will respond to them," says MNI Interactive president and CEO John Atcheson. "By developing and testing MusicNet with current technologies like telephones, we're building a base of real consumers who are using an interactive system as part of their daily lives. When broadband television arrives, we'll have the market experience and the expertise to help people find what they want quickly and easily."
 In addition to the telephone and interactive cable-based services, the company is developing computer-based MusicNet versions that will be introduced later this year.
 MNI Interactive is a California corporation founded under the name MusicNet Inc. in 1990 in San Francisco.
 NOTE: MNI Interactive and MusicNet are trademarks of MNI Interactive. QuickTime and HyperMovie are trademarks of Apple Computer.
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 /CONTACT: Mary Standley of MNI Interactive, 415-904-6222; or Amie Belongia or Beth Pampaloni or Wayne Phillips of Wilson McHenry Co., 415-592-7600, for MNI/

CO: MNI Interactive ST: California IN: CPR SU: PDT PER

LW-TM -- SJ002 -- 1292 01/17/94 11:43 EST
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Publication:PR Newswire
Date:Jan 17, 1994

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