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MovieWeb.com, Video Update and Unique Business Systems Join to Launch the MovieWeb Video Retail Network.

Business Editor

LOS ANGELES--(BUSINESS WIRE)--Aug. 29, 2000

Breakthrough Venture To Unite Video Retailers Nationwide

With a Common Online Brand And Technology Infrastructure

Millennium Internet Corporation, owner-operator of popular online movie destination MovieWeb.com(TM), has teamed with Video Update, Inc., the nation's fourth largest national video chain, and Unique Business Systems, Inc. (UBS), the leading provider of video retail point-of-sale (POS) software, to launch the MovieWeb Video Retail Network(TM). Brandon Calder, Chairman and CEO of Millennium Internet Corporation, Daniel A. Potter, Chairman and CEO of Video Update and Pradeep Batra, President of UBS, jointly announced the alliance today.

Video Update, the nation's fourth largest national video chain with 650 video rental locations across the U.S. and Canada, has signed on as the MovieWeb Video Retail Network charter affiliate and all of the chain's outlets will roll-out with MovieWeb, beginning this year.

Providing the exclusive technological basis for the MovieWeb Video Retail Network, UBS is currently developing upgrades to its existing POS software. Current UBS customers, representing over 12,000 video retail locations nationwide, will be provided with a compelling, no-risk upgrade path to the new software and the MovieWeb Video Retail Network.

Set for a 4th Quarter national rollout, the MovieWeb Video Retail Network is a one-stop marketing and business services solution created expressly for video retailers and their members. By leveraging the combined resources of local video retail affiliates and the popular MovieWeb.com online consumer movie destination, the MovieWeb Video Retail Network empowers its video retailer members with an extensive array of online and offline e-commerce capabilities, consumer marketing programs and other business services designed to increase their local market share against the major chains.

Local video retail affiliates of the MovieWeb Video Retail Network receive point-of-sale (POS) software created exclusively for the service by UBS and 24x7 data connectivity though MovieWeb's global backbone partner. The new software and data connectivity, used in conjunction with MovieWeb.com, enables real-time online rental transactions, membership management, inventory control and a range of other critical business services.

MovieWeb will also provide video retail affiliates a comprehensive customer tool kit, highlighted by point-of-presence (POP) materials including posters and brochures, and MovieWeb membership cards that co-brand MovieWeb with the video store. The membership card will be utilized for a wide range of ongoing loyalty, discount and promotional programs.

Once connected to the network, video retailers receive an extensive bundle of marketing and operational benefits:

-- Enhanced consumer convenience through the ability to conduct

online rental transactions (including payment processing).

-- Improved financial performance through revenues associated

with online sales of new and pre-viewed videos, soundtracks,

related books, toys and other merchandise.

-- Valuable information about their consumers and their movie

consumption histories, preferences and future movie

consumption trends as well as the ability to target market

upcoming releases, sales or promotions via e-mail and the Web.

-- Increased visibility through national promotion and consumer

marketing of MovieWeb.

-- Increased in-store traffic from consumers using the stores as

local fulfillment points for products purchased online.

-- Lower administration and membership management costs.

"For the first time, video retailers have an opportunity to level the playing field against Blockbuster. Combining the philosophy of `strength in numbers' with state-of-the-art Internet technology, the MovieWeb Video Retail Network unites video retailers to create a powerful national network. As a network affiliate, local retailers will enjoy increased visibility, electronic commerce capabilities, operational cost-cutting benefits and profits from new revenue sources," said Calder.

"MovieWeb is the business services and customer relationship marketing solution for today's video retailer. The combination of video retailers' existing store operations and MovieWeb's online capabilities represents the future of home video entertainment. We are excited to join with this outstanding service and make MovieWeb an integral part of our business," said Potter.

"Consumers will benefit by logging on to MovieWeb.com, accessing their personal movie profiles and experiencing unprecedented ease and convenience in reserving and renting videos," according to Scott Schreiman, Executive Vice President and a co-founder of Millennium Internet. "No more time wasted searching the video store to find that the movie you want is already checked out. MovieWeb is creating the home video equivalent of the movie theater `will-call window'".

About Video Update, Inc.

Video Update, Inc. is based in St. Paul, Minnesota and owns, operates and franchises video specialty stores under the name Video Update throughout the U.S. and Canada. The Company opened its first franchised store in 1983 and its first Company-owned store in 1989. As of July 2000, Video Update operates more than 650 stores. The trading prices of the Company's Class A Common Stock are quoted on NASDAQ's over-the-counter bulletin board under the symbol VUPDA.

For more information, visit the Video Update web site at www.videoupdate.com

About Unique Business Systems, Inc.

Unique Business Systems Corporation is a leading provider of Point-Of-Sale Plus Software Systems. POS+ includes all normal POS functionality plus industry specific requirements for inventory rental, asset management, and work order tracking. UBS combines integrated POS+ software with wireless networks, radio frequency identification, and WEB based delivery systems. With over 17 years experience keeping track of customers' businesses, UBS combines real operational experience with state of the art technology. This combination allows customers to maintain their competitive advantage and be market leaders.

For more information, visit the UBS web site at www.unibiz.com

About Millennium Internet Corporation

Headquartered in Los Angeles, California, Millennium Internet Corporation is the owner-operator of the popular online consumer movie destination MovieWeb.com(TM), and the MovieWeb Video Retail Network, a one-stop marketing and business services solution created expressly for video retailers. Millennium Internet's investors include leading technology law firm Wilson Sonsini Goodrich and Rosati, prominent media and technology executives and individual investors in Silicon Valley, Washington DC and Los Angeles.

For more information, visit the MovieWeb web site at www.movieweb.com
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Date:Aug 29, 2000
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