New Media Holdings - Company News

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Company Enters into Exclusive Licensing Agreement

NewMedia Holdings Retains Web Development Firm.

Seattle, WA - NewMedia Holdings ("NMHCO") announced that it has retained Paley Media, Inc. to serve as its exclusive web development, design, and consultancy firm with respect to the commercialization and day-to-day management of the online media properties that comprise NMHCO's network.

About Paley Media, Inc.

Paley Media, Inc. is a Washington based web development firm that provides business, advisory, design, and other services to companies seeking to develop their web-based properties.

About NewMedia Holdings, Inc.

NewMedia Holdings, Inc. ("NMHCO") owns the world's largest collection of Country GeoDomains and high profile web sites and is comprised of online communities and speciality publications that electronically distribute content on a variety of subjects such as travel, entertainment, sports, and finance. The Company is located in Seattle and is privately held.

NewMedia Holdings, Inc. replaces "Virtual Countries"

Company Name Change Effective 1 January 2005

Seattle, WA - Management announced that it has adopted a new business name for its network of online communities. Once known as 'Virtual Countries", the Board has selected the name "NewMedia Holdings, Inc." The corporate name change becomes effective 1 January 2005 and more accurately relfects the breadth of the network and the diverse asset base that not only comprises GeoNames such as Russia.com and Scotland.com, but also other subjects such as entertainment, sports, music and finance with names such as HorseRacing.com and Musicians.com.

About NewMedia Holdings, Inc.

NewMedia Holdings, Inc. ("NMHCO") owns the world's largest collection of Country GeoDomains and high profile web sites and is comprised of online communities and speciality publications that electronically distribute content on a variety of subjects such as travel, entertainment, sports, and finance. The Company is located in Seattle and is privately held.