muvee Appoints Terence Swee as New CEO

January 24, 2007

muvee Appoints Terence Swee as New CEO

Former CEO Dr. Pete Kellock to carry on a new high-level strategic role

SINGAPORE and NEW YORK –– January 24, 2007 – muvee, the pioneer and leader in Instant Personal Video, announced that it has named Terence Swee, co-founder and Chief Opportunities Officer, as the company’s new CEO effective this month. He will also join muvee’s board of directors. Co-founder and former muvee CEO, Dr. Pete Kellock, will remain a Director, taking on a new high-level role within the company that focuses more on strategy, innovation and evangelism.

“Leading muvee for the last 7 years has been a wonderful experience and a privilege and I now want to focus on a number of key strategic tasks to further muvee's expansion. I’m looking forward to doing more of what I love: strategizing, inventing and developing revolutionary products, making muvees, and understanding our end-users,” said Kellock. “Terence is a natural leader and front-man for the company. He’s young, energetic, smart and charismatic and I think he'll make an outstanding CEO. We have a deep friendship and we’ve both worked very much as equals to take muvee this far, so there won’t be any major changes of direction or style, but I hope the change of leadership will take our energy level to yet another high as we continue to grow.”

Kellock and Swee founded muvee in 2001, working hand in hand to build the company with their shared vision. Last year alone, muvee’s successes included the signing of a major partnership agreement with Warner Music Group, the embedding of muvee’s automatic video editing technology on LG phones, the launch of new products for photo kiosks and online portals and most recently, the launch of the latest version of its flagship PC software, muvee autoProducer 6, which generated a record level of sales that was almost double that of the previous year.

Dr. Kellock added, “My belief in what we're doing is as strong as ever. We're in an exploding market at exactly the right time, with no competition even close to us. We’re financially strong, with a uniquely-talented, multi-disciplinary team that any competitor would find very hard to replicate. And what we’re doing is fun and incredibly cool. I love muvee and the revolution we're engaged in with as much passion as I did when we set out on this path 7 years ago. Now I want to play a slightly different role in the revolution and help take us to the next level.”

Swee said, “Pete and I have worked so closely that we often think alike. There will not be any fundamental change in the direction of muvee and I will continue to lead muvee and interface with our partners with the same level of integrity and passion that Pete has inculcated at all levels of the company. We’ll continue to add to our very talented international team and focus on our key strengths. With the support of the strong business relationships and financials that we have built up, we expect to be even more aggressive in our growth and penetration of certain markets.”

About muvee

muvee is the pioneer and global leader in a dynamic new field: Instant Personal Video. muvee's patented technology revolutionizes home video production, enabling anyone to automatically turn video and pictures into professional-quality productions in hundreds of different styles. Users need no prior experience working with video and each production is created in a fraction of the time that it would normally take using conventional video editing tools. muvee’s products are available for PCs, camera phones, embedding in CE devices, photo kiosks, websites and other platforms. muvee's global partners include Hewlett-Packard, Nokia, Sony, Nikon and LG. For more information, please visit www.muvee.com.