Investee Company Secures Licensing Agreement

Strathmore Investee Company Inspar Secures Major Licensing Agreement With Leading US Cable Television Network

MediaPoster deal with ZDTV worth NZ$400,000

AUCKLAND – 31 May 2000 – Internet and technology investment company, Strathmore Group Limited (NZSE: SMR) today announced that its US based investee company Inspar has secured a major licensing deal with the North American cable television network ZDTV, owned by Microsoft co-founder Paul Allen. The deal, valued at NZ$400,000, involves the licensing of Inspar’s core product MediaPoster, a world leading web enabling software application that allows users to share video and audio clips via the Internet. Strathmore acquired 30% of Inspar in February this year.

“MediaPoster allows our customers to enrich e-mail by video or ‘v-mail’ with the use of multimedia web tools that capture, edit, compress and upload video clips,” said Inspar’s Co-Founder and CEO, Andrew Matlock. “Through our association with Strathmore and their global network partners, Double Impact Inc., we were able to secure this major licensing agreement with ZDTV. The deal will give us invaluable marketing exposure across North America.”

Strathmore’s Chairman, Phil Norman, says that the growth in bandwidth capacity in the United States means that the demand for MediaPoster will accelerate very rapidly, enabling Internet users to enrich their email communications with video images and voice. “By supporting the delivery of standards-based video and audio, Inspar has homed in on one of the fastest growing areas of Internet usage. The licensing deal with ZDTV is a key milestone in this growth and a substantial endorsement from a target industry. In addition, discussions are already well advanced with a number of large portal and other distribution partners in the US, all of whom have endorsed the technology.”

“Inspar’s success with ZDTV is a great example of Strathmore’s strategy of investing in Australasian technology with the potential for rapid expansion in the US with financial and practical assistance from both Strathmore and our Silicon Valley partners, Double Impact Inc.”

About Inspar Limited

Inspar provides multimedia enabling technologies to Internet community sites. Inspar’s major product offering, MediaPoster, is designed for use by Web companies such as portals, online auction sites, dating services, online greeting card companies and their customers. MediaPoster makes it simple for users to post video and audio to a Web site. Users can quickly and easily record, compress and upload multimedia messages onto a host site where they stream directly using industry-standard formats such as RealNetworks’ RealSystem G2, or Microsoft’s Windows Media Format. Inspar has offices in San Francisco and Melbourne.

About ZDTV Limited

ZDTV is the largest cable television network in North America dedicated to technology with 20 million subscribers. The 24-hour cable television network and integrated website focuses on computing, information technology, and the Internet. The shows help viewers improve their computer knowledge and participate more fully in the Digital Age. Via television, new users are introduced to the ways that computers can help them at work and at home.

The website, ZDTV.com, expands on the television content taking the issues and interests of the TV shows, adding information and resources. If interest is sparked by something on television, viewers are encouraged to satisfy that curiosity on the website. The Interact section is used for chats, contests, message boards, and other community-based projects in which viewers share their interests in computers and the Internet.

ZDTV is owned by Vulcan Ventures, Inc., the Bellevue, Washington-based investment organisation of Microsoft co-founder Paul G. Allen. Vulcan Ventures purchased ZDTV from its founder, Ziff Davis, in a transaction completed on January 21, 2000. Through Vulcan, Paul Allen invests in companies that offer products, services, or technologies that fit his "wired world" strategy and can contribute to or benefit from the technology and strategy of other companies within the group's extensive investment portfolio. For more information on ZDTV or Vulcan, visit www.zdtv.com and www.paulallen.com respectively.

About Strathmore Group Limited

Strathmore Group Limited is a technology investment company with approximately $NZ 19 million of shareholders’ funds. It targets Internet, e-Commerce and information technology companies with potential to deliver accelerated growth in shareholder value by competing in global markets. It provides strategic advice, capital support, operational assistance, industry expertise and a network of relationships to assist technology companies to migrate internally.

ENDS

For further information, please call:

Phil Norman, Executive Chairman, Strathmore Group Limited
Tel +64 21 667 210, E-mail: phil.norman@strathmoregroup.com

Andrew Matlock, Co-founder & CEO, Inspar Limited
Tel +1 415 227-9433, E-mail: andrewm@inspar.com

Nicholas O’Flaherty, Account Director, Botica Conroy & Associates
Tel +64 9 303 3862, E-mail: nicholaso@bca.co.nz

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