Tekes Funds oplayo's Product Development by EUR 1.3 Million

Java-based video technology key in ensuring Finnish global competitiveness Tekes Funds oplayo's Product Development by EUR 1.3 Million Helsinki, Finland - May 23, 2001 - oplayo inc., the developer of an advanced Java-based streaming video technology, has been granted EUR 1.3 million (approx. FIM 7.7 million) by Tekes, the National Technology Agency of Finland. The sum is one of the largest that Tekes has granted to a Finnish software company for product development purposes. oplayo's unique streaming video technology enables the transfer of video to all Java-enabled terminals on the fixed Internet as well as over different wireless networks. The patented MVQ technology enables extremely efficient video compression and light decompression at the receiving end, making it very suitable for wireless environments. oplayo's video solution requires no separate plug-in software and is totally transparent to the end-user, making it very easy to use. "We regard oplayo's technical development both nationally and internationally significant. New communications technologies that include transmission of video information over various networks, are essential in ensuring global Finnish competitiveness. oplayo's video technology enables commercial and even public video services to reach a wide variety of end users that do not need to be technically oriented", explains Risto Setälä, Technology Manager of Tekes. "Our first MVQ-technology based products are already on the market, and our customers are using their MVQ-formatted videos on the Internet. The technology we provide allows the compression of video into very light forms, which then can be utilized via GPRS (General Packet Radio Services) or other high-speed wireless connections", says Anttoni Vesterinen, president of oplayo inc. "As markets and technologies develop, we need to offer a video solution that runs in fixed and wireless access networks on a variety of terminals. Technology must be flexible enough to set content and service providers free from producing various formats for different access networks and terminals. Our technology development focuses on an overall solution by which one does not need to care how and on what device the video is being viewed. Tekes' funding is a distinction to us and encourages us for further development of the product", continues Vesterinen. In oplayo's solution, the distributed video content is compressed into an extremely light packet. The end-user's computer or mobile device automatically decompresses and shows the packet with the accompanying small Java applet (approx. 10 kB), which only takes few seconds to receive on a normal modem connection. oplayo inc. is attending the following venue, please visit us on: - Streaming Media West 2001, June 20 - 22, Long Beach, California, USA oplayo inc. (www.oplayo.com) is an innovative software company developing fast and easy video technology based on Java for both wireless and fixed Internet. The company's goal is to provide a simple and secure solution that enables all computer and wireless device users to view high-quality video content - without any proprietary plug-ins needed for a standard web browser. The patented MVQ video codec technology makes it possible to produce profitable and added- value Internet services that reach widespread consumer groups. Founded in 1999 and formerly known as AVS Technologies, oplayo is located in Helsinki, Finland and Virginia, USA. The company is funded by Nokia Ventures and Zouk Ventures (UK). Tekes, the National Technology Agency of Finland, is the main govermental financing organisation for R&D in Finland. Tekes provides funding and expert services for R&D projects, and also promotes national and international networking. Foreign companies conducting R&D activities in Finland are as well welcome to Tekes' customers. Tekes headquarters is located in Helsinki, and overseas offices in five cities: Brussels, Tokyo, Boston, San Jose and Washington, D.C. In Finland Tekes services are also available via the wide network of Employment and Economic Development Centres, known as the TE Centres. For more information, please visit Tekes' web site: http://www.tekes.fi/eng. Contact oplayo inc: Eeva Juujärvi Tel. +358 9 2517 2370 Cell phone +358 40 709 9370 E-mail eeva.juujarvi@oplayo.com Contact Tekes: Risto Setälä Tel. +358 10 521 5858 Cell phone +358 50 557 7858 E-mail risto.setala@tekes.fi Contact PR agency: Juha Rantanen (NetProfile Finland) Tel. +358 9 6812 080 Cell phone +358 40 572 4674 E-mail juha@netprofile.fi ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/05/25/20010525BIT00210/bit0001.doc http://www.bit.se/bitonline/2001/05/25/20010525BIT00210/bit0001.pdf