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FOR IMMEDIATE RELEASE contact: Jud Alford, NewTek Inc. (913) 228-8000 NEWTEK STUNS NAB WITH THE INTRODUCTION OF THE VIDEO TOASTER FLYER TAPELESS EDITING SYSTEM Las Vegas, March 20, 1994 – NewTek, Inc., the pioneers of the desktop video industry, announce the Video Toaster Flyer, the first D2 quality tapeless editing system. With the Flyer priced at $3995, NewTek once again shatters the price/performance standards for broadcast quality video production just as they did with the release of the Video Toaster in 1990. "When we originally conceived the idea for the Video Toaster it was to provide all the tools necessary to create broadcast quality television at a price almost anyone could afford." said Tim Jenison, NewTek President. "With the introduction of the Video Toaster Flyer we have made the tools even more accessible, reducing the cost of production by an order of magnitude." The Video Toaster Flyer is the result of more than seven years of intense research and development. The Video Toaster Flyer offers D2 quality video and CD quality audio editing in a tapeless, non-linear environment. The Video Toaster Flyer tapeless editor allows the user to dial in the video quality, up to lossless D2 quality. All video data is stored on computer hard drives that allow the user to access particular segments instantaneously without having to shuttle from one point to another as in traditional tape editing. The system employs an easy to use, drag and drop storyboard interface. The breakthrough technology in the Video Toaster Flyer is NewTek's revolutionary new VTASC compression algorithm. VTASC sets a new standard for hard disk based video compresson by combining D2, broadcast quality video with unprecedented compression ratios. NewTek is currently in discussion with a number of vendors looking to license VTASC and Video Toaster Flyer technology. The Video Toaster Flyer continues NewTek's tradition of providing easy to use, broadcast quality video production tools, at unbelivevably low prices.. The complete Video Toaster Flyer system provides the ability to incorporate all of the tools from the Video Toaster; digital video effects, paint graphics, titles and animations directly into productions edited from one simple interface. For Toaster LightWave 3D users, the tapeless editor will allow the blending of moving video easily and seamlessly into animated video prouctions. NewTek will be demonstrating the Video Toaster Flyer at the National Association of Broadcasters Convention, March 21-24 in Booth #11050.