Modem Media Acquires MEX Multimedia Experts GmbH

Modem Media acquired MEX Multimedia Experts GmbH, a German
developer of interactive business solutions, for about $5.4 million in cash
and common stock.

MEX will operate as Modem Media MEX, and will be integrated with Modem
Media’s overall European organization.

Digital communication agency MEX has a client roster that includes
Mercedes-Benz, Braun, Allianz, Siemens and IBM Germany.

Modem Media said MEX will broaden its international technological expertise,
specifically in the development of intranet, extranet and content management
systems.

“As the Internet has become ubiquitous, the potential for global brands to
reach and build relationships with customers worldwide is enormous,” said
G.M. O’Connell, Chairman
and CEO of Modem Media.

“We are committed to expanding our global office
network to serve our clients in local markets around the world.”

Modem Media MEX will provide e-commerce platform development, digital
design, strategic marketing and media services.

Modem Media clients have included 3M, Citibank, Intel, Delta Air Lines,
E*Trade, General Electric, IBM, Sony Computer Entertainment of America and
Unilever.

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