MobiTV Receives $70 Million in Additional Financing

EMERYVILLE, July 12: Mobile television specialist MobiTV has
closed its Series C financing with a $70 million investment led by Oak
Investment Partners.

As part of the investment, Oak Investment Partners' managing
partner, Bandel Carano, will join MobiTV's board of directors.

"We have taken tremendous strides to develop this
rapidly emerging market across three continents over the last few years,"
said Phillip Alvelda, the CEO, chairman and co-founder of MobiTV. "These
rather substantial funds will help us capitalize on MobiTV's head start and
position as the premiere brand in mobile television. We plan to use these funds
to provide even more television content on more devices, across more networks,
and in more countries around the world."

Founded in 1999, MobiTV began rolling out its mobile TV
platform in November 2003. Today, it reaches mobile subscribers through more
than 20 carriers around the globe including Sprint, Cingular and Alltel in the
U.S.; Bell Canada, Rogers and TELUS in Canada; 3 and Orange in the U.K., and
America Movil in Latin America.