StudioNow Raises $2.38 Million Additional Series A Financing, Adds Three New Members to Board of Directors

NASHVILLE, TN, Aug 27 (MARKET WIRE) --
StudioNow (www.studionow.com), the premier online source for creating
professional-quality videos at affordable prices, today announced it has
secured $2.38 million in private equity funding from existing investors
and Clayton Associates, a Franklin, Tennessee-based private equity firm.

Clayton Associates' additional capital infusion in StudioNow brings the
total Series A investment in the company to $4.1 million. Clayton
Associates has more than 13 years of private equity experience and more
than $175 million in committed capital in four funds. Its investments are
focused on early stage and expansion stage companies in media and
communications, healthcare services and technology and diversified
services, as well as selected real estate ventures.

StudioNow also announced today the addition of three new members to its
Board of Directors, in Charles Goldstuck, former president of the
Bertelsmann Music Group, Mark Montgomery, co-founder and CEO of echo, an
entertainment marketing company for creative artists and their fans, and
Clayton Associates partner Nazy Weeks. The Board also includes John
Chadwick of Nashville-based Claritas Capital, which led an initial tranche
of Series A investment in StudioNow.

"StudioNow is very pleased to welcome this investment from Clayton
Associates, which will help carry the company to the next level in order
to meet the increased demand for our online video services," said David
Mason, CEO, StudioNow. "Our venture capital partners Clayton Associates
and Claritas Capital, along with music industry savvy and technology
investment experience of our new Board members, position StudioNow for an
exciting next phase in the company's growth and development in the online
video market."

Founded in January 2007, StudioNow has created a new era of video
production by directly connecting businesses and individuals with the
Web-based StudioNow Network of expert video/movie editors, videographers,
directors, producers, animators and voice-over artists. StudioNow quickly
and efficiently creates top-quality digital content at a fraction of the
cost normally charged by professional production/post-production houses.

Since securing an initial $1.68 million investment in June 2007 led by
Claritas Capital and a group of successful technology entrepreneurs that
included the original founders of WebMD precursor Envoy, Fred Goad and Jim
Kever, StudioNow has significantly expanded the company's technology
development, operations and marketing activities to meet growing demand in
the online video production market.

Recent announcements from StudioNow have included agreements for providing
StudioNow online video creation services to a variety of online
advertising, software and music industry partners, including Clear Channel
Radio, CBS Radio, CitySearch, Sony Creative Software and Athlon Sports,
among others.

About StudioNow

StudioNow is a professional video creation platform that aggregates
thousands of freelance editors, videographers and creative individuals who
are available 24/7 to create professional, on-demand video content at
affordable prices. Through a proprietary high-volume, Web-based
marketplace and production management platform, StudioNow is capable of
creating and distributing high-quality, original videos, to provide
enhanced communications for professional groups, businesses, organizations
and associations of all sizes. For more information, visit:
www.studionow.com.

Media Contacts:
Alan Penchansky / Michael Tangeman
The Pen Group Communications
Tel: (305) 529-1944
alan@thepengroup.com

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