| iBEAM Names Geoffrey Ribar Chief Financial Officer | ` |
| Replaces
Chris Dier in Planned Transition SUNNYVALE, CA -- Aug. 3, 2000 -- iBEAM Broadcasting Corp, the leading streaming media network, today reported that Geoffrey Ribar, formerly Chief Financial Officer at Packard Bell NEC, has been appointed Chief Financial Officer of the company effective August 3, 2000. His appointment enables Chris Dier, who had been Chief Financial Officer since the company's founding and through its successful initial public offering in May 2000, to pursue personal interests, including teaching, and spend time with his family. Mr. Dier will remain with the company to aid in the transition through the end of August. Said Peter Desnoes, President and Chief Executive Officer of iBEAM, "We are very pleased to welcome Geoff as a senior financial executive to our team. Geoff brings a strong portfolio of operational and finance skills from both large public and pre-IPO companies that will be critical to managing our continued growth. While we are saddened, of course, to lose Chris, we could not overcome his desire to teach, coach and generally modify his life-style, once we were through our initial public offering. We wish him a well-deserved rest and envy his ability to enjoy the time he will be able to spend with his family." Mr. Ribar said, "iBEAM is an exciting company in a rapidly growing space with great opportunities, and I'm thrilled to be working with the senior management team in enabling the company to meet its vision. Given the speed of business in this arena, I'm also pleased that I'll have the opportunity to work closely with Chris over the next month in ensuring an effective transition for the company." As Chief Financial Officer at Packard Bell NEC, Mr. Ribar was a key member of the new management team that was brought in to turnaround the company. Ultimately, NEC decided to shut down the company, a process that Mr. Ribar oversaw. Prior to joining Packard Bell in 1998, Mr. Ribar was Chief Financial Officer of NVIDIA, a company that he helped prepare for an initial public offering, while overseeing the finance, legal, human resources and facilities organizations. He began his career at AMD, and rose through the finance organization to become Vice President and Corporate Controller. Mr. Ribar holds a BS degree in Chemistry and an MBA in Finance from the University of Michigan. He is a resident of Fremont, California. Mr. Dier, who was appointed Chief Financial Officer of iBEAM in November 1998, previously served as Chief Financial Officer of VERITAS Software and Aurum Software, companies that he also was instrumental in leading through successful initial public offerings. Prior to his start-up experience, Mr. Dier was at Intel where he held a variety of operating finance roles. Mr. Dier holds a BA and MBA from Santa Clara University and is a resident of San Jose, California. About iBEAM Broadcasting Corporation iBEAM Broadcasting(R) Corp., headquartered in Sunnyvale, California, was founded by data communications, television, and telecommunications professionals in 1998. iBEAM provides an Internet broadcast network that delivers streaming media to large audiences with viewing and listening quality that approaches television and radio. iBEAM's customers include media, technology and entertainment companies. For more information about iBEAM's broadcasting services, visit http://www.ibeam.com, or contact the company at 645 Almanor Avenue, Suite 100, Sunnyvale, CA 94086, telephone 408-523-1600. |
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