NYNEX Invests in VDOnet

PALO ALTO, CALIFORNIA -- NYNEX recently invested $3 million in VDOnet Corp., acquiring an equity position. VDOnet is a leading developer and marketer of products and technology that allows for video broadcasting and video telephony over the Internet. VDOnet's unique "bandwidth scalability" provides video transmission over any Internet connection including regular telephone lines, more sophisticated ISDN lines and private networks.

For example, with a standard PC and a regular phone line, what normally takes one full minute to download one second of video now takes a fraction of time using VDOnet's technology.

NYNEX seeks to bring multimedia services to the market forefront and the VDOnet investment is one of several alliances NYNEX has made towards this goal. Along with an equity position in the California-based company, NYNEX will gain market and technology information which will be put to use in the rapidly growing multimedia arena.

"NYNEX invested in VDOnet because VDOnet is a leader in the development of video compression technologies for the Internet and that technology will help to bring the truly global communications network to reality," said Casimir S. Skrzypczak, president, NYNEX Science & Technology Inc.

"The telecommunications infrastructure is one of the keys to the growth of the Internet and the applications that can be enhanced by video," explained Asaf Mohr, president and CEO of VDOnet. "We are very pleased that NYNEX, with its important role in driving the growth of that infrastructure, has invested in VDOnet as part of its plan to develop Internet services," he said.

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