Press Release

New York - January 5, 2004: Undertone Networks, a leading provider of online advertising services, announced today that it renewed its contract with the Internet ad serving company ZEDO. Under the agreement, ZEDO will continue to act as Undertone's third-party ad server and outsourced technology partner.

"We look forward to continuing our partnership with ZEDO," said Eric Franchi, Undertone's Vice President of Sales. "At Undertone, we are committed to bringing to market new solutions that help our clients effectively communicate their messages. As a result, we are continually enhancing our product suite to meet the changing needs of our clients. ZEDO's scalability, precise targeting and delivery capabilities coincide with our business strategy and make ZEDO the logical choice."

"We have enjoyed a long-term relationship with Undertone and we are eager to meet their needs as they continue to grow," said Roy de Souza, ZEDO's Co-Founder and Chief Executive Officer. "Undertone's diverse advertiser base and rapid growth rate allow us provide the full gamut of our ad serving and technological services."

About Undertone Networks

Headquartered in New York, Undertone Networks is a premier online advertising network comprised of today's top media properties. Founded in 2001, Undertone provides online solutions that help advertisers achieve their brand and performance-based initiatives via a comprehensive selection of ad formats, rich media and targeting capabilities. For more information, please visit www.undertonenetworks.com.

About ZEDO

 ZEDO is an Internet ad serving company that has been offering a variety of products and services to top websites, advertisers and networks since 1999. ZEDO's Third Generation Ad Serving™ technology is designed to help Web sites, advertisers and networks lower their operating costs and increase their revenue. Currently, the technology serves over 6 billion ads per month for hundreds of sites and leads the industry in scalability, ease of use and features. ZEDO is headquartered in San Francisco, Calif. and has offices in London and Mumbai. For more information, please visit ZEDO's Web site at www.zedo.com.

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