PowerCerv Corporation Acquires SearchPlay, LLC and RadioIO

PowerCerv Corporation Acquires SearchPlay, LLC and RadioIO

TAMPA, Fla., Sept. 22 /PRNewswire-FirstCall/ -- PowerCerv Corporation ("PowerCerv" or "the Company") today announced it has completed the acquisition of SearchPlay, LLC and its subsidiary, RadioIO. There are approximately 45 million shares outstanding after the acquisition.

The Company also announced a name change to ioWorldMedia and the appointment of Thomas Bean as CEO. Michael Roe will continue as Director of Strategic Planning, and Creative Director of RadioIO.com.

With this acquisition, RadioIO.com becomes the first publicly held internet radio company. SearchPlay, LLC currently operates RadioIO.com, a 15 channel genre-bending, cutting edge internet radio group that last month was rated the eighth-largest of all internet radio providers. Its channels are listed in major directories including Windows Media Guide, Apple iTunes and Real Media Guide. Renowned for high-quality content and reliable delivery via its robust streaming network, RadioIO has achieved the enviable status of a "preset" station on several digital media devices such as Phillips Streamium, Escient Fireball, SkipJam iMedia, Sonos Digital Music System, and Torian Infusion.

SearchPlay, LLC also incorporates a diverse pending intellectual property (IP) estate that allows for the operation of a search engine inside a media player; this search engine is offered concurrently with RadioIO. With 23 million searches in July, SearchPlay looks to capitalize on this as an immediate revenue stream in a very fast growing segment of the business.

According to Webcast Metrics and Arbitron, RadioIO is one of the 10 largest webcast properties and the third largest independent in the internet radio space. "Forget about what it means to RadioIO, the public company status of our Company is a very big deal for the whole industry," said Michael Roe, who started the project in a spare bedroom five years ago. "The timing is perfect. There has been more buzz about internet radio in the past 90 days than the entire seven years of its existence."

"The internet radio audience has grown 500% in five years and is continuing to expand," noted John Stanton, Chairman of PowerCerv, "20 million people listen to internet radio weekly, making internet radio ten times larger than satellite radio. The upside revenue potential from traditional radio advertising, subscriptions, and internet advertising, along with search revenue from the proprietary SearchPlayer, represents a tremendous opportunity for PowerCerv."

"We're very excited," said Roe. "Since beginning this project, I have always believed that internet radio is the future of radio -- and RadioIO is uniquely positioned to very quickly become a dominating force. We think that the proposed transaction is the logical next step for our business. There's a lot of interest in internet radio in general, and in this project specifically."

For more information about RadioIO please visit http://www.radioio.com/.

Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of PowerCerv officials are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act). Forward-Looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future PowerCerv actions, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-Looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and PowerCerv has no specific intention to update these statements.

Contact: PowerCerv Corporation, Tampa Alex Edwards, 813-864-2706 PR@radioio.com

Source: PowerCerv Corporation

CONTACT: Alex Edwards of PowerCerv Corporation, +1-813-864-2706, PR@radioio.com

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