Princeton Video Image, Inc. Announces Allowance of Third European Patent Application

Business Wire, April 30, 1999

LAWRENCEVILLE, N.J.--(BUSINESS WIRE)--April 30, 1999--

European Patent Office to Grant Additional Major Patent to PVI

Princeton Video Image, Inc. (NASDAQ:PVII, http://www.pvimage.com) announced that the PVI patent application covering the underlying pattern recognition technology used in its live video insertion system has been allowed by the Examination Division of the European Patent Office and will soon be published as a granted patent. PVI technology is used to place advertising and other electronic images into live and pre-recorded TV programming.

According to PVI officials this allowed application, PVI Patent Application 9191562.8 is the European counterpart of PVI's basic patented invention using pattern recognition in virtual advertising which was issued to PVI in the US in 1993. It will be the third patent relating to virtual advertising insertions to be granted to PVI in Europe.

"PVI's pattern recognition technology, protected by this and other patents, opens up revenue opportunities for our clients that are not available elsewhere. This is a very important patent application and its allowance is remarkably timely for PVI," said Dennis Wilkinson, President and CEO of Princeton Video Image. "This European application corresponds to our basic US Patent no. 5,264,933. We believe that the basic nature of this upcoming European patent and its early filing date provide PVI with good protection for its technology in Europe. Coming just as the FIFA Executive Committee considers appropriate use of virtual advertising in soccer and just as PVI and the NFL start to roll out our European selling program for NFL Europe League football, this decision by the Examination Division is very good timing for PVI."

Brown Williams, Chairman of PVI added, "This allowance is a very important development for PVI. We believe the US patent claims are broad and protect PVI's basic technology well in the US. After considerable deliberation, the Examination Division of the European Patent Office has now also allowed PVI's European application, supporting PVI's rights in this field as they relate to the European marketplace".

According to PVI, this fundamental patent is a major addition to PVI's growing suite of international patents on the subject, including five issued and one more allowed US patents.

"While we have been diligent in protecting our world-wide intellectual property rights, we are not content to rest on patent rights alone. PVI continues to maintain its technological and marketing excellence as well," concluded Mr. Wilkinson. "Our substantial and growing patent portfolio is an important part of our comprehensive business strategy."

Princeton Video Image, Inc. has developed and is marketing a real-time video insertion system that, through patented pattern recognition technology, places computer-generated electronic images into television broadcasts of sporting events as well as other programming. The Company has provided video insertion services for nearly 1,000 live telecasts worldwide, including broadcasts of Major League Baseball, National League Football, professional soccer and motor sports, and other live events. The Company is headquartered in Lawrenceville, New Jersey, with offices in New York City and Brussels, with Licensee's offices in Mexico City and Johannesburg.

Any statements contained in this press release that relate to future plans, events or performance are forward-looking statements that involve risks and uncertainties including, but not limited to, those relating to market acceptance, dependence on strategic partners and third party sales, contractual restraints on use of PVI's technology, a rapidly changing commercial and technological environment, competition, possible adverse regulations, need for additional financing, intellectual property rights and litigation, and other risks identified in PVI's filings with the Securities and Exchange Commission. Actual results, events or performance may differ materially. PVI undertakes no obligation to publicly release the result of any revisions to these forward- looking statements that may be made to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events.