ROO Group Announces Addition of Independent Director, Management Change and Release...

ROO Group Announces Addition of Independent Director, Management Change and
Release of Shares in Escrow

NEW YORK, Feb. 7 /PRNewswire-FirstCall/ -- ROO Group
(OTC Bulletin Board: RGRP) today announced that Lars Kroijer has been
appointed to the Company's Board of Directors as an independent director,
effective February 7, 2008. The addition of Mr. Kroijer brings the Company's
Board of Directors to a total of six members, including three independent
directors.
Mr. Kroijer, 36, is the CEO of Holte Capital Ltd, a London-based special
situations hedge fund which he founded in 2002. Prior to establishing Holte
Capital, Mr. Kroijer served in the London office of HBK Investments focusing
on special situations investing and event-driven arbitrage. In addition, he
previously worked at SC Fundamental, a value-focused hedge fund based in New
York, and the investment banking division of Lazard Freres in New York. Mr.
Kroijer graduated Magna Cumme Laude from Harvard University and received a MBA
from Harvard Business School.
Mr. Kroijer has been simultaneously appointed as chairman of ROO's
Compensation Committee.
Kaleil Isaza Tuzman, chairman and chief executive officer of ROO Group,
commented, "I have known Lars for over 15 years and believe his intellect,
oversight and knowledge of Wall Street will be of great value to ROO going
forward."
Additionally, Steve Quinn, president and chief operating officer, and the
Company have parted ways effective immediately. Recently appointed head of
network operations and product management, Sean Coutts, will assume Mr.
Quinn's overall operational responsibilities. Paula Balzer, head of sales and
marketing, will assume Mr. Quinn's sales coordination and business development
responsibilities.
The Company also announced the release of 2 million shares to News
Corporation pursuant to the services agreement between the companies of
January 25, 2007. The shares released were already outstanding, hence current
total common shares outstanding remains at 38.94 million. Under this
agreement, ROO issued shares to News Corporation contingent on ROO's meeting
revenue milestones related to its provision of products and services to
various units of News Corporation. Such milestones have been met to date.
Under the terms of the original agreement, News Corporation still has the
ability to receive an additional 2 million of ROO's common shares on January
25, 2010, based on achieving a separate, three-year revenue milestone. The
shares pursuant to this final milestone have not yet been issued. News
Corporation has not made a financial investment in ROO.
About ROO
ROO Group Inc. (OTC Bulletin Board: RGRP), through its 100% subsidiary ROO
Media Corporation, is a global service provider enabling businesses to
leverage their digital media assets and provide an enhanced user experience.
The Company's proprietary platform and content management system, the ROO
Video Exchange, and a suite of related products, allows web sites and their
advertisers to organize video content, target advertising and maximize views.
ROO is the service provider of choice for companies seeking enterprise level
solutions and effective strategies for monetizing digital media assets. The
Company also operates an advertising agency business specializing in a variety
of media services including direct marketing, brand planning and identity,
media buying and packaging. ROO has offices in New York, London, Dubai and
Melbourne, Australia. For additional information, please visit www.roo.com.
Forward-Looking Statements
Safe Harbor Statement Under the Private Securities Litigation Reform Act
of 1995 -- With the exception of historical information, the matters discussed
in this press release are forward-looking statements that involve a number of
risks and uncertainties. The actual future results of ROO Group, Inc. could
differ significantly from those statements. Factors that could cause actual
results to differ materially include risks and uncertainties such as the
inability to finance the company's operations or expansion, inability to hire
and retain qualified personnel, changes in the general economic climate,
including rising interest rates and unanticipated events such as terrorist
activities. In some cases, you can identify forward-looking statements by
terminology such as "may," "will," "should," "expect," "plan," "anticipate,"
"believe," "estimate," "predict," "potential" or "continue," the negative of
such terms, or other comparable terminology. These statements are only
predictions. Although we believe that the expectations reflected in the
forward-looking statements are reasonable, such statements should not be
regarded as a representation by the Company, or any other person, that such
forward-looking statements will be achieved. We undertake no duty to update
any of the forward-looking statements, whether as a result of new information,
future events or otherwise. In light of the foregoing, readers are cautioned
not to place undue reliance on such forward-looking statements. For further
risk factors see the risk factors associated with our Company, review our SEC
filings.
SOURCE ROO Group

Investor Relations, Todd Fromer, +1-212-896-1215, tfromer@kcsa.com; or Public
Relations, Lewis Goldberg, +1-212-896-1216, lgoldberg@kcsa.com, both of KCSA
Worldwide, for ROO Group