April 4, 2002

Venaca Joins Vela to Demonstrate MPEG-Enabled Media Asset Management Technologies at NAB 2002

NEW YORK, N.Y. - April 4, 2002 - VENACA a leader in creating broadcast quality archives and media asset management solutions today announced that they will be partnering with Vela Research, the Emmy™ award-winning provider of video compression products for the broadcast and cable industries in hosting demonstrations of Venaca's Single Source Solution Technology at NAB 2002. Vela will be hosting the demonstrations at NAB Booth #L-15030 on April 8 through April 11, 2002.

Venaca, based in New York, specializes in scalable digital media asset management and distribution with the comprehensive Venaca Digital Archive. The integration of Vela's MPEG encoders into the Venaca Digital Archive provides functionality for the real-time conversion of analog media to broadcast-quality digital formats. The resulting product is an all-in-one, PC-based system that automatically and efficiently stores, searches, retrieves, and distributes video assets and other digital media.

"Venaca and Vela have worked with each other's products over the past several years," said Venaca President George Grippo. "Our formal partnership now allows us to expand toward a tighter integration of our software and hardware products, along with an incorporation of our sales opportunities to maximize our products in the marketplace."

Vela's Argus 4:2:2 and 4:2:0 encoders provide broadcast-quality encoding on an easily accessible Windows®-based platform. The systems are used worldwide for MPEG-1 SIF, MPEG-2 half resolution, and MPEG-2 full resolution streaming in broadcast, post-production, video archiving, and computer-based training facilities.

"We've long been aware of Venaca's role in developing sophisticated media asset management technologies for the video and audio industries," said Vela Research's vice president of sales, Frank Foley. "With a more formal partnership, we're confident that the combined expertise of Venaca and Vela will continue to produce asset management products that will remain on the forefront of digital technology."