SYDNEY, Australia, 27 July 2006

We are grateful to have been given the opportunity to articulate our vision of the future by the International Federation for the Phonographic Industries (IFPI), the global peak industry body for the sound recording industry. Our vision, a statement by Kevin Bermeister, can be found at the IFPI website

About Altnet
Altnet, Inc. (www.altnet.com) is a leading online distributor of licensed digital content. Altnet provides the means for record labels, film studios and software developers to market and sell their products to a worldwide audience. Altnet distributes licensed content into leading peer-to-peer applications and internet web sites, providing their users with access to Altnet's library of Digital Rights Managed content and payment processing platform.

Contact:
    Michael Speck
    +61 408 970161
    +61 2 90047974
    jspeck@altnet.com