(EMAILWIRE.COM, May 02, 2001 ) NEW YORK -- Streamedia Communications, Incorporated (NASDAQ: SMIL - news, SMILW - news), a streaming media services company, global broadband technology provider, and film distributor, reports that its anticipated merger with HOA Networks Corp., (http://www.hoa-networks.com ) a profitable, diversified telecommunicationsand entertainment company with substantial revenues and aggressive growth potential, is on track for completion. The anticipated effective date of the merger is June 6, 2001. We are now integrating Streamedia's divisions, such as eLeaders and the Bijou Cafe Film Group, into the consolidated entity formed by our anticipated union with HOA Networks,'' reports Henry Siegel, who will become Co-President of the combined companies with counterpart John Velasco-Mills of HOA. Streamedia's Management team has been strengthened by the addition of HOA executives with proven experience guiding growth companies to profitability in the telecommunications and entertainmentindustries.'' New Board members include John Velasco-Mills, William Abram,Eric Adams, Norman Lonsdale, and Ronald J. Fields. The combined product and service pipeline creates exciting business opportunities. We are already jointly pursuing prospects, and expect to convert these into additional value for our shareholders,'' says James D. Rupp, a founder of Streamedia and newly appointed Secretary of its Board of Directors. Both I and Gayle Essary, my co-founder at Streamedia, believe this anticipated merger represents a great opportunity to build a lasting business and restore shareholder value. We have personally voted our confidence in the prospects for the consolidated entity by executing lockup agreements on our shareholdings.'' Certain statements contained herein are forward looking'' statements (as such term is defined in the Private Securities Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward looking statements. Factors that could cause or contribute to such differences include continued acceptance of the Company's products in the marketplace, the timing of significant orders, delays in the Company's ability to develop or ship new products, market acceptance of new products, competitive factors, general economic conditions, currency fluctuations and other risks detailed in the Company's registration statements and periodic reports filed with the Securities Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release. Contact: Streamedia Communications, Inc., New York Henry Siegel, 212/445-1700 Ext. 104 Fax: 212/445-1099

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