Mobile Streams

New Name Reflects Growing Focus On Consumer Location-Based Products And Services

Connectid, the mobile location-based services (LBS) company and subsidiary of Liberty Media Corporation, announced today that it has changed its name to Zoombak™. The change is part of a wider rebranding initiative that underscores the company`s focus on providing superior location-based products and services. Zoombak is the first and only consumer products company dedicated to providing these types of products and services for the entire family.

"This name change represents a critical step in our plans toward a consumer products launch later this year," said Simon Buckingham, chief executive officer of Zoombak. "We want to provide products and services that allow consumers to better manage their busy lives and stay connected to their loved ones."

20 March 2007 -- Mobile Streams [AIM: MOS] today announces its maiden full year results as a public company for the year ending 31 December 2006, following its listing on 15 February 2006.

Financial highlights:

­- Revenue increased by 62% to £8.2m (2005: £5.1m)
­- UK GAAP Loss before tax £1.8m, including IPO costs
­- Profitability achieved at the Trading EBITDA* level since August 2006
­- Trading EBITDA* profitable in the second half of 2006 (First half 2006 loss of £0.3m)
­- Breakeven achieved at Trading EBITDA* level for the year (2005: £0.1m)
­- Organic revenue growth in North America and Latin America of 124% and 84% from 2005
­- Cash at 31 December 2006 of £4.1m (2005: £0.3m)

*Calculated as profit before tax, interest, amortisation of goodwill, depreciation, share compensation expense and fund raising and floatation cost.

Strategic highlights:

­- Strategic investment from Liberty Media, including the establishment of its Connectid subsidiary under the management of Mobile Streams

­- Successful development and commercialisation of proprietary technology platform Vuesia

Start-up Connectid is so keen to get location-based content services moving that it’s going to make its own handsets to ‘front load’ the market.

The New York-based company, run by content giant Mobile Streams, will launch in August with the aim of transforming the part played by location in mobile entertainment.

It claims to have created a chip that can improve the LBS capabilities of GSM devices, using Assisted GPS (AGPS). But rather than wait for the major manufacturers to engage, it will make its own handsets and sell them direct to operators. The company will also make single-purpose location-aware devices such as pet collars.

“The big vendors always start with high-end handsets, but we want to create services that everyone can use,” said Simon Buckingham, CEO of Mobile Streams and Connectid. “If we build these location-based applications into our own devices, we can make them genuinely tangible for people.”

These services could include: location-sensitive ads; social networking that lets users tell friends that they’re nearby; location-aware gaming; city guides and maps; localised search; pet tagging and more.