July 4, 2008 Noank Media Inc. launched a beta trial of its legal P2P digital content service together with Cyberport in Hong Kong. The thirty-day beta involves users of the Cyberport internet service, who will have access to Noank's growing catalog of music and educational content, and is designed to help Noank and Cyberport develop a compelling commercial version of the service for Hong Kong and Chinese users. The service with Cyberport is the first to employ Noank's revolutionary blanket licensing model and technology.

June 19, 2007 Noank demonstrated its technology in April 2007 and will begin its Chinese service in the fall of 2007. Noank is working with its university network partner, CERNET (China Education and Research Network) to deploy the service, known as Feilio in Asia-Pacific, at all Chinese post-secondary universities and colleges over the next three years. Noank will make its consumer broadband service available in Hong Kong in late 2007.

Discussions are underway for Noank services in North and South America, Europe, and India.

February 25, 2007 Noank Media Inc., a Harvard University spin-off, has signed agreements in the China region that will generate significant new income for content owners, while helping to solve online piracy. The company recently completed its first financing and will launch its service in September 2007, with 20 million subscribers expected by 2010.

Corporate finance contact:
Keith Bullen
HarbourCastle Capital Inc.

Media contact:
Katherine Holmes
Holmes Creative Communications

Noank Media Inc.

Noank's mission is to license and distribute digital content globally while fairly compensating content owners, using the most efficient, sustainable, and effective business and technology systems. Noank's motto is "limitless legal content flow."

Noank Media Inc. provides non-compulsory blanket licenses that monetize and legalize online file-sharing. The Noank business model generates much higher revenues than current online services, and Noank shares all content fees and advertising revenues with content owners. Noank supports all media types - music, video, still images, and documents - for entertainment and education.

In brief, here's how the system works: In each country, copyright owners (record companies, music publishers, film studios, etc.) authorize Noank to distribute digital copies of their works. Noank, in turn, enters into contracts with major network service providers: broadband consumer ISPs; mobile phone providers; and universities. Noank provides the service providers' end-users with unlimited downloading, streaming, and copying licenses. In return, each access provider pays Noank a fee on behalf of each of its end-users (consumers, students, employees). 85% of the money collected from these content fees is distributed to content copyright owners. A small software program on the users' device counts the content use. That information (automatically aggregated to protect users' privacy) is used to determine the amount of money paid to each copyright owner.

Implementation of the system is currently most advanced in China and Canada. Once it is up and running in those countries, we plan to launch in other countries.