Betawave Announces Betawave TV

Betawave Corporation (OTCBB:GOFH) (www.Betawave.com), the first attention based digital media company, with a domestic reach of over 25 million unique users, announced today the premiere of Betawave TV, an ad-supported video platform. Betawave TV has launched on several publishers within the Betawave portfolio, and will also be available to select partners not in the Betawave publisher network. The product features advertiser-safe, family-friendly programming including quality animation, youth-oriented news, action sports, movie and video game information, special events, celebrity interviews, fashion, and health and beauty segments.

Betawave TV offers marketers a scalable video advertising and distribution solution and enables them to extend their relationship beyond display media and immersive integrations. The universal player is customized for each publisher's look and feel and is incorporated into the navigation of each site ensuring a high level of consumer adoption. Sponsorship opportunities include the ability to feature messages before and after professionally produced video programming, as well as through overlays at appropriate points in the viewing experience.

"Broadband advertising represents a growing share of online revenues despite the fact that there is a shortage of programming in environments that conform to high editorial standards. Betawave TV allows us to provide advertisers and publishers high-quality video programming," said Matt Freeman, CEO of Betawave. "Given the quality of our publishers and content providers, we see the introduction of Betawave TV as a safe and scalable solution unlike anything currently in the marketplace. This is one more example how Betawave continues to deepen its relationship with its partners."

Jim Moloshok, Executive Chairman of Betawave added: "Our holistic programming approach leverages the unique attributes of each environment. We have been thoughtful in how the player is integrated into individual sites. Prominent navigation and editorial support will ensure that we are able to build audience quickly as users seamlessly migrate from video to publisher content areas and back again. This is unique in the marketplace, and enables brands to be woven into the fabric of the consumer experience. Betawave TV is a prime example of our commitment to deliver attention based media."

Upon its premiere, Betawave TV will be integrated into sites including Cartoon Doll Emporium, Minyanland, Hallpass, GameGecko and others. Additional publishers inside and outside of the Betawave Network will be added post launch, increasing the reach for the sites carrying the broadband video platform to over 6.0 million unique users per month by the end of the first quarter of operation. This compares favorably against established video and TV network sites such as NBC.com with 7.3M users, ABC.com with 8.8M users, CBS.com with 4.7M users and Hulu with 5M unique users per month, according to comScore Media Metrix for January 2009.

Following its debut, Betawave TV will premiere original made-for-online branded content headlined by celebrities like Raven Symone, star of "That's So Raven"; and high-profile programming such as the star-filled weekly show "Live from the Red Carpet" from Entertainment Premieres, Inc. These opportunities are designed for brand inclusion and will leverage the unique capabilities of various publisher sites with experiences that extend beyond video programming into gaming and virtual world integrations.

"We are thrilled about the upcoming launch of Betawave TV. The type of premium programming available through the product is in high demand by our visitors and the revenue implications of video ad formats is very meaningful," says Evan Bailyn, CEO of Cartoon Doll Emporium. "We are also looking forward to the original programming opportunities that will be introduced, as I believe these will tap into the greatest strengths of Cartoon Doll Emporium. Imagine engaging a qualified audience of movie goers and influencers with both broad distribution of behind the scenes video segments and dress-up games customized around key characters from the film."

The programming appearing in Betawave TV in the first half of the year includes:

-- Cookie Jar Entertainment: Leading independent producer of children's entertainment and world-renowned programmer of the CBS Saturday morning kids' block presents long-term franchises like: "Johnny Test", "Paddington Bear", "Mona the Vampire", "Dark Oracle", "The Wombles", "Ripley's Believe It or Not!", "The Wonderful Wizard of Oz", "Animal Crackers", "Emily of New Moon" plus special full-length animated movies.

-- The Game Channel: A channel customized for the heavy gamer who wants to see the newest games coming out, with action trailers, cheats, "the making of" segments and lots more from AllGamePreviews.com, a division of Internet Video Archive, the world's leading aggregator of trailers for movies, music, TV and games.

-- Kids Who Rip: An action sports movement of kids who are fearless, fun, focused and ready to show the world their skills. From surfing, to skateboarding, to snowboarding, these kids are positive role models who know who they and are ready to compete to win.

-- MGM: One of the movie world's most prestigious studios provides live action and animated programming ranging from series like "Pink Panther and Sons" and "All Dogs Go To Heaven" to full-length live-action movies and TV series.

-- The Movie Channel: A channel for the movie fan featuring a full collection of movie trailers, behind the scenes interviews and "how did they do it" segments from Video Detective, a division of Internet Video Archive, connecting previews and people since 1999.

-- Raven-Symone Presents: A leading teen star of television comes to Betawave TV with her own collection of custom produced segments focused on teen fashion, trends and beauty. This programming will be complemented with cross-network immersive experiences throughout the Betawave Network.

-- Live from the Red Carpet: Live from Hollywood's Red Carpets, this weekly show from Premiere Entertainment Network features live coverage of the biggest movie openings and musical events. Aired on Betawave TV and then available for VOD and mobile distribution, the content will be focused on fashions, hair styles, interviews and more.

-- Teen/Kid News: The creator of Eyewitness News, Al Primo, presents news coverage just for kids and teens. Delivered on a full-news set by an anchor team of youth who bring the audience the latest on celebrities, news and events of special appeal.

-- Young Hollywood: R.J. Williams founded Young Hollywood to create unique celebrity programming that provides an authentic take on the next generation of Hollywood. It's the inside story of celebrity life as told by the best source ... the celebrities themselves. The programming offers unparalleled access to the world beyond the velvet rope.

Betawave Corporation (www.betawave.com) (OTCBB:GOFH), headquartered in San Francisco and New York with sales offices in Los Angeles and Chicago, is a leading entertainment and media company focused on brand immersion experiences that reach consumers in a deeply engaged state of mind. Betawave specializes in aggregating and distributing premium content on a large network of quality sites for which Betawave is the exclusive brand advertising monetization partner. The Betawave portfolio of publishers reaches over 25 million unduplicated online users domestically and 69 million worldwide.* It ranks as the third largest online U.S. youth opportunity and a top five 'mom' opportunity for blue-chip advertisers. *Source: Comscore Media Metrix Media Trend (with duplication), December 2008.

Safe Harbor Statement

This press release contains forward-looking statements that involve risks and uncertainties, such as statements of Betawave's plans, objectives, expectations and intentions. Forward-looking statements in this press release are generally identified by words, such as "projects," "believes," "anticipates," "plans," "expects," "will," and "would," and similar expressions that are intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual results, performance or achievements of Betawave to be materially different from those expressed or implied by forward-looking statements. Betawave undertakes no obligation to publicly update or revise any forward-looking statements or to make any other forward-looking statements, whether as a result of new information, future events or otherwise unless required to do so by the securities laws. Investors are cautioned that forward-looking statements are not guarantees of future performance and that undue reliance should not be placed on such statements.

SOURCE: Betawave Corporation

Betawave Corporation David Lorie, 415-738-8706 (Investor Relations) General Counsel dlorie@Betawave.com or George H. Simpson Communications George Simpson, 203-521-0352 (Press) george@georgesimpson.com