JUPITERMEDIA'S JUPITERIMAGES DIVISION ANNOUNCES AGREEMENT TO ACQUIRE CONTROLLING OWNERSHIP IN MICROPAYMENT AND STOCK PHOTO COMMUNITY WEB SITES(New York, NY - November 7, 2006) -- Jupitermedia Corporation (Nasdaq: JUPM) today announced that it has signed a definitive written agreement to increase its ownership position from an initial 49.7% equity investment made in January 2006 to 90% in HAAP Media Ltd. Based in Budapest, Hungary, HAAP Media operates two stock photo related Web sites: Stockxpert.com (www.stockxpert.com) and Stock.xchng (www.sxc.hu). The transaction is expected to close during the fourth quarter of 2006. Financial terms of the pending transaction were not disclosed.
Stockxpert.com is one of the world's fastest growing "micropayment" stock image libraries with more than 300,000 stock photos that can be purchased for as little as $1.00 per image. Since Jupitermedia's initial investment in January, 2006, the number of images has increased tenfold and Web site traffic has increased from 120,000 to over 6 million monthly page views. Stock.xchng's stock photo community Web site has also experienced substantial growth with over 50 million page views monthly and over 900,000 registered members. Both sites are published in a variety of languages.
"We have been very pleased with our investment and working relationship with the team at HAAP Media, and when the opportunity to secure a larger ownership position became available, it was not a difficult decision to proceed. Since our initial investment, we have been leveraging our other properties to help Stockxpert.com become one of the leading sellers in the rapidly growing field of 'micropayment'," stated Alan M. Meckler, Chairman and CEO of Jupitermedia Corporation. "This deal to increase our stake in the micropayment business, combined with our many subscription, royalty-free and traditional right-managed image offerings, further distinguishes Jupiterimages from our competition as the only company serving the needs of all levels of image buyers and budgets worldwide," added Meckler.
About Jupitermedia Corporation
Jupitermedia Corporation (Nasdaq: JUPM) (www.jupitermedia.com), headquartered in Darien, CT, is a leading global provider of original information, images and digital content for information technology, business and creative professionals. Jupitermedia includes Jupiterimages, one of the leading images companies in the world with over 7.0 million images online serving creative professionals with brands like BananaStock, Workbook Stock, Brand X Pictures, FoodPix, Botanica, Nonstock, The Beauty Archive, IFA Bilderteam, Comstock Images, Creatas Images, PictureQuest, Liquid Library, Thinkstock Images, Thinkstock Footage, Bigshot Media, Goodshoot, IT Stock Free, Stock Image, Pixland, Photos.com, Ablestock.com, PhotoObjects.net, Clipart.com, FlashFoundry.com, AnimationFactory.com, Stockxpert.com, RoyaltyFreeMusic.com and JupiterGreetings.com. The online media division of Jupitermedia is JupiterWeb, which operates four distinct online networks: internet.com and EarthWeb.com for IT and business professionals; DevX.com for developers; and Graphics.com for creative professionals. JupiterWeb properties include more than 150 Web sites and over 150 e-mail newsletters that are viewed by over 20 million users and generate over 350 million page views monthly.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release which are not historical facts are "forward-looking statements" that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The potential risks and uncertainties address a variety of subjects including, for example, the competitive environment in which Jupitermedia competes; the unpredictability of Jupitermedia's future revenues, expenses, cash flows and stock price; Jupitermedia's ability to integrate acquired businesses, products and personnel into its existing businesses; Jupitermedia's ability to protect its intellectual property; and Jupitermedia's dependence on a limited number of advertisers. For a more detailed discussion of such risks and uncertainties, refer to Jupitermedia's reports filed with the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934. The forward-looking statements included herein are made as of the date of this press release, and Jupitermedia assumes no obligation to update the forward-looking statements after the date hereof.
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