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Non-Tech : Interactive Network, Inc. *** INNN *** -- Ignore unavailable to you. Want to Upgrade?

To: Keith Fauci who wrote (375)	7/15/1999 7:21:00 AM
From: Scott A. Trapp	Read Replies (1) \| Respond to of 418

Interactive Network, Inc.Announces Advisory Board July 15, 1999 07:01 AM BELMONT, Calif.--(BUSINESS WIRE)--July 15, 1999--Bruce W. Bauer, President and CEO of Interactive Network, Inc. INNN , announced today the formation of a special Advisory Board. Bauer stated, "We are forming this special consulting group to support our efforts to maximize share holder value by the proactive marketing and utilization of Interactive's intellectual property through the identification of probable licensees and infringes of our intellectual property." Bauer added, "Our company has three sources of potentially new growth and income. "One, is to expand the licensing of Interactive Network's (IN) technology and patents globally with major emphasis upon the North American markets. Two Way TV Ltd., a London-based subsidiary of Cable & Wireless Communications (CWZ-NYSE) is presently a licensee of Interactive Network's patents and technology. Two Way TV is planning a national roll out of its service in the UK over the next year. As previously stated, I am interested in doing a joint venture with Two Way in larger markets such as the United States. "The friendly Licensing of IN's technology and patents to other companies is only one source of income. The second is the vigorous enforcement of our intellectual property. It is my intention to retain a leading intellectual property litigation firm to represent Interactive in its licensing and patent enforcement program. We have successfully litigated infringement in the past and will continue to do so in the future. I believe that many of the companies that entered into the Internet and enhanced TV arenas while IN was preoccupied with a major litigation and fighting for survival are potential licensees of our intellectual property. The advisory board will assist management in identifying infringing companies and pursuing a licensing arrangement, or litigation if necessary. We will aggressively pursue infringement of our patents in the future. "It is my plan to move the Company forward through the most efficient use and marketing of its assets while continuing to develop and enhance its intellectual property. The formation of the IN Advisory Board is intended to assist in support of these goals. The members are Mr. Roger Bensen, Mr. Greg Freishstat, Mr. Robert Hesse, and Mr. Eduard Mayer. "We sought to provide our advisory members with stock options as incentive and compensation. The IN Board has approved the proposal this group brought to the Company of 250,000 options to each member and 5% of all revenue in excess of $100,000,000 the group delivers to the Company in executed agreements through their direct efforts. Obviously they feel, as do we, that IN's potential may be very significant." Interactive Network, Inc. Advisory Board: Roger Bensen: Founder and President since 1970 of Number One Corporation, Norwalk Conn.; financial consultants specializing in identifying, building up, and financing of small market cap companies. Gregg Freishstat: Chairman and CEO of VerticalOne Corp, Atlanta; formerly Sr. Vice President of Premiere Technologies PTEK and founder, of Telet Communications, LLC, an Internet communications company, practiced law in field of complex business litigation, served on boards of RelevantKnowledge and USA.Net. (www.verticalone.com/about.html#gregg) Robert Hesse: Co-founder in 1981 of the investment banking firm of Swartwood, Hesse Inc., is President of Dorchester Group Inc., Tenafly, NJ; currently assisting several communications and media based companies with cross border financial transactions, and access to global venture capital, has raised in excess of $1 billion for private & public companies, and managed the IPO of Interactive Network, Inc. (INNN). Eduard Mayer: President of Acorn Ventures Inc., Manager of BG Acorn Capital Fund, Manager of FESA Enterprise Venture Capital Fund of Canada Ltd., Toronto Canada; specializing in strategic investment and strategic business growth. Bauer further announced, "it is with regret that the Company must announce the resignation of Mr. Don Graham from the Board of Directors and the Special Voting Trust due to family medical reasons. Don stated that he is resigning from all the companies in which he serves as a director. The Company greatly appreciates his contributions over the past years during the Company's most trying times and we regretfully accept his resignation at this time."