TOKO First to Offer iBiquity Certified HD Radio(TM) Decoder Modules

COLUMBIA, Md. and WARREN, N.J., May 22, 2003 -- iBiquity Digital Corporation, the sole developer and licenser of HD Radio(TM) technology, and TOKO Incorporated, a leading manufacturer of electronic components and modules, announced today that TOKO has received performance certification for their HD Radio decoding module. TOKO, one of iBiquity's original development partners, supplies tuner modules to many of the world's largest automotive receiver manufacturers, as well as portable radio manufacturers. This certification will enable manufacturers of HD Radio branded receivers to speed time-to-market and reduce engineering costs.

"HD Radio represents a significant new business opportunity for TOKO and expect that we will see a high demand for the technology in the very near term," said Kent Kitano, President, TOKO. "Our customers pride themselves on being technology leaders, and our HD Radio products will allow them to bring to market the highest quality radio products available."

"Component and module manufacturers such as TOKO are integral to the successful rollout of HD Radio technology," said David Salemi, Vice President, Marketing, iBiquity Digital. "This certification is a significant accomplishment that further establishes TOKO's leadership position."

Toko Group

The Toko Group is a multinational manufacturer of electronic components, subassemblies, and systems with worldwide operations encompassing 19 sales and service centers and 12 manufacturing and R&D facilities. Employing over 9,000 people, Toko is one of the world's largest manufacturers of miniature RF/IF inductor and filter products.

About iBiquity Digital Corporation

iBiquity Digital is the sole developer and licenser of HD Radio technology in the U.S., which will transform today's analog radio to digital, enabling radically upgraded sound and new wireless data services. The company's investors include 15 of the nation's top radio broadcasters, including ABC, Clear Channel and Viacom; leading financial institutions, such as J.P. Morgan Partners, Pequot Capital and J&W Seligman; and strategic partners Ford Motor Company, Harris, Texas Instruments and Visteon. iBiquity Digital is a privately held company with operations in Columbia, MD, Detroit, MI, Redwood City, CA and Warren, NJ. For more information please visit: www.ibiquity.com.