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Media 100 Completes $16 Million Streaming Media Asset Sale to Autodesk


MARLBORO, Mass.--(BUSINESS WIRE)--Oct. 8, 2001--

Analyst Call to Discuss Third Quarter 2001 Financial Results

Scheduled for October 11, 2001

Media 100 Inc. (NASDAQ: MDEA), a leading provider of digital media products, today announced that it has finalized the sale of its streaming media software assets to the Discreet division of Autodesk, Inc.

With the closing of this deal, Media 100 has received $16 million in the all cash deal, significantly strengthening the Company's balance sheet, and better positioning the Company for the continuing development and launch of its next-generation platform of digital media solutions. On August 30, 2001, Media 100 and Autodesk, Inc. announced that the two companies had signed an asset purchase agreement in which the Discreet division of Autodesk would purchase all intellectual property rights, as well as branding rights of Media 100's CineStream and Cleaner family of streaming media software solutions.

The Company will highlight details of its strategy moving forward in its upcoming Third Quarter Financial Results Announcement conference call, currently scheduled for Thursday, October 11, 2001.

"While this announcement signals the close of a very important transaction for the Company, it also ushers in a new era of development and innovation," said John Molinari, president and chief executive officer of Media 100. "We're taking this Company forward, bringing renewed energy and focus to our new, next generation digital media systems which we believe brings us significant opportunity for enduring success."

Media 100 to Announce Third Quarter Fiscal 2001 Results in Conference Call

Later this week, Media 100 will also announce financial results for its third quarter 2001, ending August 31, 2001 and invites the financial community to participate in a conference call scheduled for Thursday, October 11, 2001. During the call, Media 100 executives will highlight details of the Company's third quarter 2001 results, as well as provide insight into the future direction and strategy of the Company. In addition, a press release announcing the results will be released prior to the open of the market at 7:30 a.m. EDT on Thursday, October 11, 2001.

Mr. John Molinari, president and chief executive officer, and Mr. Steve Shea, chief financial officer of Media 100, will host the call and will also be available to answer questions.