Times News Channel of India Ties Up with Vizrt

Bergen, Norway, May 18, 2005. Vizrt Ltd. (Frankfurt Prime Standard, Oslo Main List: VIZ) announces a new significant deal with a new customer in India - Times Global Broadcasting Co. Ltd. launching a 24 hour news channel.

Times Global Broadcasting Co. Ltd., the news broadcasting company of the Times of India Group is set to launch a news channel later this year. Broadcasting initially in English language, the news and current affairs channel will target the growing urban television audience. The 24-hour channel will operate from dual centers in Mumbai and Delhi, supported by bureaus around the country.

The channel is in the process of setting up studios and related infrastructure. Some internationally renowned agencies are already working on the set designs and technology, including Vizrt to provide graphic designs and content management solutions.

Mr. Bjarne Berg, President and CEO of Vizrt commented, "Times Global Broadcasting Co. Ltd. news channel is an intriguing venture. Vizrt is committed to take part in this venture, to turn the vision into reality. Vizrt is the leading provider of broadcast SW graphics in the Indian market over the last couple of years. Revenues generated from the Indian market in 2003 and 2004 totalled USD 1.2 million and USD 2.2 million respectively generated from 26 on-air news channels. Vizrt expects the Indian market to contribute as a driver for our growth in the coming years, being a market with an increasing number of local TV stations and a growing need for brand identification of the many existing TV stations".

Mr. Sunil Lulla, CEO, Times Global Broadcasting Co. Ltd. added "The platform suggested by Vizrt best suited our requirements. The company is capable of designing specific solutions to suit the channel's requisite. We are confident that with its smart solutions and proven track record, Vizrt will deliver the results."

About Vizrt:
Vizrt is a public company traded on the Frankfurt Prime Standard and the Oslo Main List: VIZ, ISIN: IL0010838154. Vizrt is the world's leading provider of real-time 2D and true 3D broadcast graphics. The company's software suite offers a complete graphics solution including: character generation, content management and newsroom integration, 3D tickers, virtual studio, weather data integration, virtual sports analysis, information display and virtual effects.
All Vizrt's graphics products are powered by a single core renderer, the unique and powerful Viz|Engine. Vizrt's graphics solution goes beyond the visual aspect and includes-- highly customized user interfaces for the designer, operator, journalist and engineer.
The world's leading broadcasters, such as CNN, CBS, BBC, Sky, ITN, ZDF, Star TV, TV Today and NHK, use Vizrt's solutions in conventional digital and high definition content delivery. Production houses and corporate institutions, including the New York Stock Exchange, are Vizrt customers.

For further information please refer to www.vizrt.com

About The Times Group:
Times Global Broadcasting Co. Ltd. is a Times of India group company in association with Reuters. The Times of India group is the largest media conglomerate in South Asia. The 167 year old group has evolved over the years from being a newspaper company to being a multimedia business house with interests in newspapers, magazines, music, interactive, retail, radio and the internet. Its flagship brand The Times of India is world's largest circulated English broadsheet daily. The Economic Times is world's second largest business newspaper. Most of its other businesses like radio and internet are leaders by far in these markets. Recently, the group marked its entry into the television medium through its glamour and lifestyle channel Zoom and will soon launch a news & current affairs channel. The group has relationships with international majors like Wall Street Journal, BBC, The Economist and Disney.

Press contacts:

Bjarne Berg
     Ofra Brown
     SCHWARZ Financial Communication
President CEO
     Frank Schwarz
+47 9055 7711
     +972 54 4955225
     +49 611 2058 095

Times Global Broadcasting Co. Ltd
Vishakha Singh
1st Floor, Trade House, Kamla Mills Compound
Senapati Bapat Marg, Lower Parel
Mumbai 400 013
Tel: + 22 24990376, 2499 9944
Fax:+ 22 2493 1341
Email: vishakha.singh@timesgroup.com

This press release contains forward-looking statements with respect to the business, financial condition and results of operations of Vizrt and its affiliates. These statements are based on the current expectations or beliefs of Vizrt's management and are subject to a number of risks and uncertainties that could cause actual results or performance of the Company to differ materially from those contemplated in such forward-looking statements. These risks and uncertainties relate to changes in technology and market requirements, the company's concentration on one industry, decline in demand for the company's products and those of its affiliates, inability to timely develop and introduce new technologies, products and applications, and loss of market share and pressure on pricing resulting from competition, which could cause the actual results or performance of the company to differ materially from those contemplated in such forward-looking statements. Vizrt undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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