On2 Technologies Announces Global Release of VP3 for Windows — Best-of-breed Video Codec Now Available Across All Major Platforms

Business Wire, May 15, 2001

Business Editors

NEW YORK--(BUSINESS WIRE)--May 15, 2001

On2 Technologies, The Duck Corporation (ASE: ONT), a leading technology and services company specializing in providing the highest-quality video compression, announced today that it will make its VP3 for Windows available for sale at the beginning of the third quarter. VP3 for Windows, which includes an encoder and decoder, will be available for limited commercial and personal use via download from the On2 website.

On2's VP3 for Windows allows users to encode in VP3 video using any Video for Windows compliant encoders (such as Adobe(R) Premiere(R) and Cleaner(TM) 5). The decoder portion of the codec is both Video for Windows and DirectShow compliant.

"On2's best-of-breed video codec is now available via the QuickTime, Real and Windows Media platforms," said Douglas McIntyre, On2 Technologies President and CEO. "Our primary target for VP3 for Windows is the Far East. We have accelerated the development of the product to meet the demand that we've seen for VP3 in Korea, Singapore, Japan and China."

About On2 Technologies, The Duck Corporation

On2 Technologies (ASE: ONT) is a leading technology firm at the forefront of video compression. The Company revolutionized video encoding with the creation of its advanced full-motion, full-screen, video compression and streaming technology (TrueMotion(R) VP3/VP4). Today, On2 offers a suite of products and services, including high-level video encoding, hosting, streaming, interface design, customized technical support, and consulting services. In addition, On2 licenses its high quality video codecs for use in set-top boxes, electronic gaming devices and wireless applications. Headquartered in New York City, the Company has an office in Albany, NY, and operations in San Francisco, CA, and London, UK, and Seoul, Korea. On2 may be reached at 145 Hudson Street, New York, NY 10013, telephone 917-237-0500 or info@on2.com. Investor inquiries should be sent to invest@on2.com. More information is available at www.on2.com.

This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are subject to the safe harbor provisions of those sections and the Private Securities Litigation Reform Act of 1995. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risk uncertainties including those described in our filings with the SEC, and that the actual results or developments may differ materially from those in the forward-looking statements as a result of various factors. We have based these forward-looking statements on information currently available and disclaim any intention or obligation to update or revise any forward-looking statement.