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Geocast Calls It Quits

Friday, March 2nd, 2001

Geocast Network Systems said Thursday that
it suspended business operations and is
currently in discussions to sell off its assets.

Geocast was working on a content delivery
network that leverages digital television
transmission - including satellite, digital
TV and cable broadcast signals - offering
access to rich media content.

“Geocast had a tremendous vision and the
talent to build to that vision,” said Joseph
Horowitz, chairman and CEO of Geocast Network
Systems. “To reach the final stage of
execution we needed additional funding. The
current market environment was simply not
conducive to our efforts in this regard. We
sincerely thank our employees and partners
for their commitment and support over the
last 24 months.”

EchoStar signed a carriage agreement with
GeoCast that was scheduled to kick in during
the third quarter. None of EchoStar’s business
plans are affected by Geocast’s move since
nothing was launched, an EchoStar spokesperson
said.