Foster City, California, June 24th, 1999 – Nanocosm, Inc., a leading provider of rich media personal Web services, has achieved exponential growth of its groundbreaking Internet audio service, Live365.com. In only two weeks of its initial launch, the Live365.com audience has increased twenty-fold, making Live365.com the single largest broadcaster of streaming MP3 audio content on the Web. "We're currently getting hundreds of new users per day. So many, that we now represent 30% of the total streaming MP3 listenership on the Net," said Peter Rothman, Nanocosm's Chief Technical Officer. "To match this pace, we are aggressively moving forward to expand our broadcast capacity and feature package."

Live365.com provides Internet broadcast capability and community functions for the creation and promotion of independent music. This new service allows individuals to create and broadcast customized music streams using state-of-the-art MP3 streaming technology at no charge. It has been lauded as a breakthrough product for independent musicians, disk jockeys, and listeners alike. Nanocosm plans an official consumer launch of the Live365.com service at the up-coming Jupiter Plug-In Conference, July 19th and 20th in New York City. Live365.com will be a major sponsor of this conference in conjunction with this launch.

On a related note, the company announced that it has obtained significant new funding from private capital sources based in Singapore and Hong Kong. These new commitments represent continued strong support for this promising start-up company. "Our investors have been instrumental in facilitating the rapid growth and early successes of Nanocosm to date," said company CEO, Alex D. Sanford. "Their continued support, particularly at this level, clearly anticipates the immense potential of our company."

Nanocosm's mission is to provide individuals with easy to use tools and community-based environments to create, publish and experience rich media content. In the near future, Nanocosm will invite additional strategic investment from appropriate sources within the US, in an effort to build further valuable relationships.