FORMER GOLDMAN SACHS ANALYST HAYS NAMED COO AT MASSIVE, WORLD'S FIRST VIDEO GAME ADVERTISING NETWORK

NEW YORK CITY—August 9, 2004—Massive Incorporated today announced Katherine Hays, former equity research analyst for Goldman Sachs, has been appointed Chief Operating Officer.

Ms. Hays has served as interim Chief Financial Officer and Vice President of Operations since July 2003 and has played a leading role in designing the company’s strategy for building the world’s first videogame advertising network. This network will reach an audience of more than 20 million U.S. males age 18 to 34 when it is launched in October.

“Katherine’s leadership and hard work have been integral to getting Massive where we are today – on the verge of launching the first network for in-game advertising, one that will soon reach a larger audience of males 18 to 34 than any other media except Monday Night Football,” said Mitchell Davis, CEO of Massive Incorporated.

As COO, Ms. Hays will be responsible for the day-to-day operational management of Massive Incorporated, which includes leading the development and implementation of Massive’s network, which will aggregate the gaming audience and offer real-time delivery of advertising into video games across the network. Massive will also provide full measurement of audience reach, frequency, and demographic targeting.

Ms. Hays played an integral role in the company’s recent round of funding, lead by DFJ Gotham and New York–based RRE Ventures. In addition to her new responsibilities, she will continue to oversee Massive Incorporated’s finance department.

Ms. Hays has an extensive background in general management and finance specific to the media industry. At Goldman Sachs, Ms. Hays covered global media companies including Time Warner, Disney, Vivendi Universal and headed Goldman’s digital and interactive media team. Prior to Goldman, she worked in investment banking with Salomon Smith Barney in their media and communications practice and has worked for the Boston Consulting Group (BCG) in their retail and media practice. She holds an MBA from Harvard Business School.

About Massive Incorporated
Massive Incorporated is the developer and creator of the world’s first video game advertising network, including the capability to serve dynamic advertising to video game consumers and report precisely on their interaction with this brand messaging. Massive is building the largest aggregated network of premier video game titles that will allow advertisers to target the coveted 18-34 year old demographic through a truly interactive and dynamic experience. Located in New York City, Massive is backed by DFJ Gotham, RRE Ventures, Tobat Capital, and Newlight Associates. www.massiveincorporated.com

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