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Genesis Networks Receives Significant Funding from Longworth Venture Partners and Masthead Venture Partners

Tuesday, September 26, 2006

NEWS RELEASE

Genesis Networks Receives Significant Funding from Longworth Venture Partners and Masthead Venture Partners

Sept. 26, 2006

NEW YORK — Sept. 26, 2006 — Genesis Networks, a provider of next-generation global video transmission services over fiber and satellite, has secured second-round financing from Longworth Venture Partners and Masthead Venture Partners. Peter Roberts of Longworth and Daniel Flatley of Masthead join existing investors Dan Carney of Aspen Fiber Optic and Genesis Networks President and CEO Paul Dujardin on the board of directors. Genesis Networks provides client-driven global video transmission services over fiber and satellite using the cost and integration advantages of Internet Protocol (IP) technology. This second round of financing will enable the company to expand its global sales, marketing, support, and research and development.

“This new investment from Longworth and Masthead enables Genesis Networks to complete its initial phase of interconnecting the top 80 cities worldwide,” said Dujardin. “Adding connection to these cities increases the reach and capabilities for our existing clients to access Europe, the Middle East, the Far East, North America, and South America instantly. We are pleased that Longworth and Masthead share our excitement about our market opportunity.”

Genesis Networks’ IRIS proprietary, customer-controlled software enables clients to have unsurpassed control over the bandwidth, routing, and scheduling of their video transmission services. Customers can book, reserve, and monitor their own network and occasional video services in real-time through the company’s 24-hour customer service operation.

“We were impressed by the unique, cost-effective global transmission services that Genesis Networks provides and their customers rave about them,” said Peter Roberts, partner at Longworth Venture Partners. “We are always on the lookout for companies that provide next-generation services to their clients, and Genesis Networks’ ingenious approach to global video transmission based on IP fits that bill.”

Paul Dujardin is a pioneer in the field of customer-controlled video transmission. He created the first video switching service for CNN in Washington D.C., which later became what is known as the AVOC switch. Later, he developed the IDB Switch in New York, housing multiple video clients on one video router, allowing customer control, which quickly became the standard for video switching. He also introduced the first fiber digital video service in the New York metro area and the first international teleport in New York City, which became the largest East Coast teleport and the flagship for the World Teleport Association.

Learn more about Genesis Networks at http://www.gen-networks.com.

About Genesis Networks
Launched in 2002, Genesis Networks provides full-time local, domestic, and international video transmission services over fiber and satellites, as well as occasional transmission services for news, sports, and special events. Genesis provides the cost and integration advantages of an IP network, with the Quality of Service that customers require. Genesis has pioneered Portable Bandwidth Service — used by leading broadcasters worldwide. Clients are able to move bandwidth on their network as their requirements change. Genesis also delivers a growing number of ethnic networks including channels from India, Poland, and Latin America, to North American cable systems through the Genesis Teleport in Hauppauge, NY. For additional information on Genesis Networks and its innovative products, please visit http://www.gen-networks.com.

About Longworth Venture Partners
Longworth Venture Partners is a Boston-based venture capital firm that invests in early-stage software, internet, and media companies. For over twenty years, the Longworth team has founded, built, and led investments in some of the most innovative and successful technology companies. The firm combines a proven track record of entrepreneurial and operating success with top venture investing performance to support entrepreneurs in building the next generation of technology leaders. For more information please visit http://www.longworth.com.

About Masthead Venture Partners
Headquartered in Cambridge, Mass., Masthead Venture Partners is a venture capital firm dedicated to providing early stage information technology, Internet infrastructure and services, communications, and digital media companies with the capital and hands-on operational support they need to develop into industry leaders. The firm has the advanced technical expertise, proven operating experience and deep industry knowledge and relationships to help entrepreneurs build companies with category defining potential. For more information visit: http://www.mvpartners.com.

For more information please visit http://www.gen-networks.com, or call 212-962-1776.