For Immediate Release:

Lightspeed Audio Labs Names McDermott to Lead Company's Business Development Efforts

Tinton Falls, NJ (January 16, 2007) ñ Lightspeed Audio Labs Inc., a developer of real-time, Web-based music collaboration technology, today announced the hiring of Jim McDermott as the company's Vice President of Business Development. Mr. McDermott will be responsible for all activities related to new business, partner relations, marketing, and artist and label relations.

As a music industry veteran, Mr. McDermott brings more than 20 years of highly relevant experience based on his positions at Warner Music, PolyGram Records, Island Records, Universal Music Group, Epic Records and Sony Music. Since 2005, Mr. McDermott has been President of Trickness Digital Designs, LLC. Prior to that, he was SVP Digital Business at Sony Music International, where he managed digital operations and business development for Sony Music affiliates around the world. At Sony Music, Mr. McDermott oversaw Sonymusic.com, a network of hundreds of Sony artist web sites, and also launched the first major label direct to consumer digital download site in 2000.

"We were instantly drawn to Jim after one look at his impressive body of work in the music industry," explained Mark Malek, co-founder of Lightspeed Audio Labs. "With Jim leading our business development efforts, we look forward to changing the way people create, listen and share audio content on and over the Internet. Jim's desire to be on the ground floor of our industry-first technology platform will make him a valued asset and dynamic addition to our team."

From 1987-1995, Mr. McDermott was involved with artist development on album projects by Depeche Mode, Guns & Roses, The Replacements, Van Morrison, KD Lang, John Mellencamp, Soundgarden, Edie Brickell, Sheryl Crow, Pearl Jam and many others

"I am very excited to join the Lightspeed team and working with a truly talented staff," stated Mr. McDermott. "We have a real opportunity to revolutionize the music business by giving musicians, fans and even record labels the ability to collaborate and create music online, in real time. I'm looking forward to leveraging my expertise to play an integral role in building Lightspeed's future."

Lightspeed Audio Labs is built on the idea of creative collaboration where music, the Internet and social networking converge to allow musicians and enthusiasts to create audio content online in real time. Leveraging its low-latency, value-added network and proprietary audio CODEC technology, amateur and professional musicians can meet, collaborate and create music online, and leverage the platform to share it with others ñ recorded or live.

For business development, partner relations, marketing, and artist and label relations, contact Jim McDermott at jmcdermott@lightspeedaudiolabs.com or (732) 450-1444

About Lightspeed Audio Labs Inc.

Based in Tinton Falls, NJ, Lightspeed Audio Labs represents the new wave of Web 2.0 technology that combines community, content, collaboration and commerce, offering unique value to artists, fans and sponsors. Its patented technology platform provides a virtual studio and venue for musicians, jammers and fans alike to participate in the music-making process, where unique musical content is shared with others in real time. With Lightspeed Audio Labs, it's live, in real time, all the time! For more information, visit www.lightspeedaudiolabs.com.