MediaBay, Inc. Announces Key Additions to Executive Team

Business Wire, May 2, 2000

Business/Technology Editors

MORRISTOWN, NJ--(BUSINESS WIRE)--May 2, 2000

Senior Executives Add Valuable Operational Planning and Acquisitions,

Banking and Legal Experience As Company Strengthens Focus on Growth

MediaBay, Inc. (Nasdaq: MBAY), the leading provider of premium spoken word audio content and products in hard goods and digital download formats, announced today the appointment of Robert T. Cleary as Executive Vice President of Operations, and Joanne Rypp Firstenberg as Executive Vice President and General Counsel, to its executive team. Prior to joining MediaBay, Cleary was Vice President of Operational Planning and Administration at The Columbia House Company, and Firstenberg was a Partner with Cane & Firstenberg/Hudson Capital LLC.

"We hired Robert and Joanne to expand our executive team as we continue to grow and manage our business with the mission of dominating the market for spoken word audio content and products," said Michael Herrick, chief executive officer of MediaBay, Inc. "Bob has tremendous experience working in the club format at Columbia House and we expect to draw on his experience to become more efficient and reduce costs, while providing a more robust experience to our customers, club members and visitors. Joanne is not only an experienced attorney, but also a highly skilled investment and merchant banker. This combination of skills will be useful in reducing expenses while identifying acquisition targets and joint venture partners as well as executing, documenting and closing transactions."

Robert T. Cleary will be Executive Vice President of Operations, and will oversee day-to-day operations for MediaBay, including inventory control, planning and fulfillment. Cleary comes to MediaBay after 28 years at Columbia House, where he served as Vice President of Operational Planning & Administration for approximately 17 years. While at Columbia House, Cleary leveraged invaluable relationships with senior management of industry supply firms in addition to managing a multi-product inventory and administering the purchasing and manufacturing of hundreds of millions of CDs, video cassettes, audio cassettes, and DVDs. In 1999, Mr. Cleary implemented a cost control program that achieved a 10 million unit (25%) reduction in Columbia House's music and video inventory, resulting in a $15 million cash flow increase.

"MediaBay is an exciting company with an interesting mix of products in hard goods and digital download formats. I look forward to helping streamline MediaBay's operations and realizing cost efficiencies as it relates to how the company sells and distributes its products and manages its inventory," said Robert Cleary, Executive Vice President of Operations.

Joanne Rypp Firstenberg was hired as Executive Vice President and General Counsel, and will advise senior management on legal strategy and tactics, oversee strategic partnership agreements, and negotiate and structure various forms of business acquisitions. Firstenberg was most recently a partner at Cane & Firstenberg, a law firm and a principal at Hudson Capital LLC, a related merchant bank, where she was responsible for originating projects, performing due diligence, negotiating and structuring transactions, completing the relevant legal work and overseeing the performance of investments. A graduate of Yale Law School, Firstenberg was previously employed as a Vice President of Chase Manhattan Bank, directing all of the firms' balance sheet financial products in the international division.

"The company has made a number of smart acquisitions over the last few years, which has helped build their revenues, content library and customer base. I am excited about using my experience to identify and execute partnerships and acquisitions that will strengthen MediaBay's position as the dominant provider of spoken word content and products," said Joanne Rypp Firstenberg, Executive Vice President and General Counsel.

About MediaBay, Inc.

MediaBay, Inc. is the leading provider of premium spoken word audio content and products in hard goods and digital download formats both online and offline which it markets to its customer database of over 2.3 million names and more than 1.5 million unique website visitors. MediaBay, Inc. is one of the world's largest marketers of audiobooks through its Audio Book Club membership club, which markets and sells over 70,000 audiobook titles through direct mail and the Internet at www.audiobookclub.com. MediaBay, Inc. is also one of the world's largest marketers of old-time radio shows and classic videos through its Radio Spirits subsidiary which markets and sells its content library of over 60,000 radio shows and 3,500 videos on audio cassette, compact disc and video cassette through direct mail, retail and radio channels, as well as through the Internet at www.MediaBay.com. MediaBay.com, the Company's media portal site, is an innovative content and e-commerce website offering the Company's millions of customers and website visitors a single location for premium spoken word content and products available in hard goods and secure digital download formats.