Princeton Video Image, Inc. (Nasdaq: PVII) the global leader in virtual advertising and imaging solutions, continues to expand its international business with an exclusive five year agreement with Virtual Media Lab, Inc., a subsidiary of Cybersmart, which is a multimedia software development company based in Seoul.

Virtual Media Lab will conduct business under the name ‘PVI-Korea’. This agreement marks PVI’s first entrance into the Pacific Rim. Virtual Media Lab will join Publicidad Virtual in Latin America and PVI Europe, as further evidence of PVI’s continuing expansion in the international marketplace.

Virtual Media Lab intends to use PVI’s patented proprietary technology in applications for sports, entertainment and production enhancements for Korean terrestrial and cable broadcasters. It is anticipated that PVI’s ease-of-use and proven performance in baseball and soccer will result in early acceptance of the technology by customers in Korea.

‘PVI is known as the industry leader in virtual image insertion technology and introducing such innovative technology to Korean broadcasters and advertisers is an exciting opportunity, not only for us, but for the Korean broadcast community in general,’ said Eugene Yang, CEO Virtual Media Lab, Inc. ‘We are looking forward to working closely with various broadcasting companies for the ultimate benefit of the public’s viewing experience.’

‘We are pleased to add Korea to our growing list of international licensees and to have Virtual Media Lab as our first Pacific Rim Licensee,’ said Dennis Wilkinson, President and CEO of PVI. ‘As the co-host to the 2002 World Cup, Korea is a key market in the expansion of our international business.’

For further information, please contact:

Dawn Rogers-Murphy
Tel: +1 609 912 9400