Press Release

New York - August 15, 2005: Undertone Networks, a rapidly growing provider of online advertising services, today announced the appointment of Eric Bingham to the position of Chief Operating Officer. Mr. Bingham will be responsible for the company's overall financial and operational management.

"Eric will provide the guidance and insight needed to ensure that we continue to operate efficiently and create new opportunities for our advertisers and publishers," said Michael Cassidy, President and Chief Executive Officer of Undertone Networks. "I am confident he will strengthen our team and play a pivotal role in taking Undertone Networks to the next level."

"Undertone is strategically positioned in the marketplace with a comprehensive product offering and experienced team," said Mr. Bingham. "I'm excited about joining Undertone and contributing to the company's growth."

Mr. Bingham has extensive experience in the Internet arena focusing on revenue growth and business operations. Most recently, Mr. Bingham served as COO and CFO at Overpeer, Inc., a peer-to-peer anti-piracy, content distribution and marketing services firm. Prior to joining Overpeer, Mr. Bingham was a co-founder and corporate officer at About.com. As Senior Vice President of Business Operations, he helped guide the company from start-up in 1996 through its 1999 initial public offering and acquisition in 2001 by Primedia. Mr. Bingham was also responsible for the development of Sprinks, the company's pay-for-performance advertising service, which was sold to Google Inc. in 2003.

Mr. Bingham has also held business development and operations positions at Home Box Office and News Corporation's Internet division. Mr. Bingham is a graduate of Allegheny College and holds an M.B.A. from Boston University. In addition, he is a former naval aviator and United States Marine Corps veteran.

About Undertone Networks

Undertone Networks is a premier online advertising network comprised of today's top media properties. Founded in 2001, Undertone provides online solutions that help advertisers achieve their brand and performance-based initiatives via a comprehensive selection of ad formats, rich media and targeting capabilities. The company is headquartered in New York and has a sales office in San Francisco. For more information, please visit www.undertonenetworks.com.

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