MEDIA BAY (MBAY)

[Hilander]

MediaBay Receives Nasdaq Staff Determination Letter:

June 30, 2006
MediaBay Receives Nasdaq Staff Determination Letter
CEDAR KNOLLS, N.J., June 30 /PRNewswire-FirstCall/ -- MediaBay, Inc. (Nasdaq: MBAY), On June 27, 2006, MediaBay, Inc. (the "Company") received notice from The Nasdaq National Market indicating that for the prior 30 consecutive trading days, the Company's common stock has not maintained a minimum market value of publicly held shares of $5,000,000 as required for continued inclusion by Marketplace Rule 4450(a)(2). In accordance with Marketplace Rule 4450(e)(1), the Company will be provided 90 calendar days, or until September 25, 2006, to regain compliance. To regain compliance the minimum market value of the Company's publicly held shares must be $5,000,000 or greater for a minimum of 10 consecutive trading days prior to September 25, 2006.

About MediaBay Inc.

MediaBay Inc. (Nasdaq: MBAY - News) is a digital media and publishing company specializing in spoken word and premium audio entertainment. The company maintains a library consisting of over 75,000 hours of content, including audio books from best-selling authors and the history of American Radio. Some of MediaBay's digital content partners include BBC, Blackstone, CBS Radio, Harper Collins, Hay House, Oasis, Penguin Audio, Random House, Simon & Schuster, Sound Room, and Zondervan. In addition to its popular Audio Book Club, MediaBay distributes its content through proprietary web sites including audiobookclub.com, radiospirits.com and Soundsgood.com as well as through partner channels including MusicNet, Real, MSN Music, Sirius Satellite Radio and XM Satellite Radio. For more information on MediaBay, please visit www.soundsgood.com, www.mediabay.com, www.audiobookclub.com, www.radiospirits.com and www.radioclassics.com.

Certain statements in this press release constitute "forward-looking" statements that involve a number of known and unknown risks, uncertainties and other factors which may cause MediaBay's actual results, performance or achievements to be materially different from any results, performances or achievements express or implied by such forward-looking statements. All statements other than statements of historical facts included in this press release including, without limitation, statements regarding our future financial position, business strategy, budgets, projected costs and plans and objectives of our management for future operations are forward-looking statements. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," or "continue" or the negative thereof or variations thereon or similar terminology. Important factors that could cause actual results to differ materially from our expectations, include, without limitation, our history of losses; our ability to execute on any strategic initiatives; the success of our new digital media distribution strategy, our ability to anticipate and respond to changing customer preferences, license and produce desirable content, protect our databases and other intellectual property from unauthorized access, collect receivables; dependence on third-party providers, suppliers and distribution channels; competition; the costs and success of our marketing strategies; product returns; member attrition and other risks detailed in our Annual Report on Form 10-K for the year ended December 31, 2005. Undue reference should not be placed on these forward-looking statements, which speak only as of the date hereof. We undertake no obligation to update any forward-looking statements.

SOURCE MediaBay, Inc.
-0- 06/30/2006
/CONTACT: Tim Clemensen, Rubenstein Investor Relations, [phone],
[e-mail]/
/Web site: http://www.mediabay.com /
(MBAY)

CO: MediaBay, Inc.
ST: New Jersey
IN: PUB BKS
SU:

DO
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1562 06/30/2006 16:01 EDT http://www.prnewswire.com