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Jerry Machovina Named New CEO of Adauction.com

10 January 2000

Jerry Machovina Named New CEO of Adauction.com; 24-Year Advertising Industry Veteran Brings Vast Experience to Business-to-Business Media Solution

    SAN FRANCISCO--Jan. 10, 2000--Adauction.com (http://www.Adauction.com), the leading exchange that brings media buyers and sellers together in one online marketplace, today announced that Jerry Machovina will assume the position of president and chief executive officer of Adauction.com, effective January 17, 2000.
    Machovina comes to Adauction.com with 24 years of successful media management experience in broadcast television, cable TV and the Internet. Most recently, he served as executive vice president of media services for the advertising sales division of AT&T Broadband and Internet Services (AT&T B.I.S.), the successor company to Tele-Communications, Inc. (TCI).
    "We are very excited for Jerry Machovina's impending leadership of Adauction.com, and honored that he is joining us," said Chris Redlitz, co-founder of Adauction.com. "Jerry brings with him immense experience and knowledge, and an unparalleled national reputation. He has distinguished himself through his interactions with individuals and organizations on the agency and supplier sides of the media industry. Prior to entering the next major phase of Adauction.com's growth, we realized the company would benefit greatly from having a CEO with the operations, strategy and finance experience required to aggressively drive future partnerships and communicate with the investment community - Jerry is a natural fit for this position."
    "I am excited to join the Adauction.com family and look forward to bringing this company to the next level by maximizing their exceptional value," said Machovina. "The fragmentation of traditional media combined with the explosion of new media has created an inefficient environment for media buyers and sellers. The Adauction.com online platform is the perfect solution to bring buyers and sellers into a neutral marketplace to streamline this labor-intensive process and increase productivity and profitability for all parties."
    Prior to joining Adauction.com, Machovina, 52, was recognized for developing one of the most successful media sales organizations in the advertising industry at AT&T B.I.S. The division has over 2,500 employees serving over 70,000 local and national advertisers in over 100 domestic television markets. Machovina additionally is credited with helping create the automotive online service AutomallUSA.com.
    Before joining TCI in 1995, Machovina served eleven years as the vice president of advertising sales for Telecable Corporation based in Norfolk, Virginia where the organization under Jerry's leadership quickly became recognized as one of the pre-eminent MSO operations in the industry. Prior to Telecable, Jerry spent over eight years in general management at WYAH-TV in Portsmouth, Virginia.
    Machovina currently serves on the Board of Directors for Women in Cable and Television, Adcom Inc., National Cable Communications, AutomallUSA.com and the Cabletelevision Advertising Bureau (CAB), in addition to serving as Chairman of the Local Sales Advisory Board of CAB. Machovina is a graduate of Bowling Green State University where he was an all-conference football player in 1968.
    Machovina will be based out of Adauction.com's corporate offices in New York and San Francisco. He will also maintain an office in Denver.
    The executive search firm of Hendrick & Struggles and its media services partner, Stephen Unger, assisted in the recruitment of Mr. Machovina to Adauction.com

    About Adauction.com

    Adauction.com is an exchange that leverages the power of the Internet to bring media buyers and sellers together in one marketplace. Representing top-branded, high-demand properties, the company's online marketplace offers a convenient way to purchase across a variety of media: online, print, out-of-home, and soon radio and television. More than 8,000 media buyers are registered to purchase inventory through Adauction.com. Leading ad agency buyers include Modem Media-Poppe Tyson; USWeb/CKS; Foote, Cone & Belding; Goodby Silverstein & Partners; iXL; Lot21 and Western International Media. Direct advertisers include Dell Computer Corporation, US WEST Dex and BellSouth. Founded in September 1997, San Francisco-based Adauction.com has sales offices in New York and Atlanta. The company has received financing from Amerindo Investment Advisors, Convergence Partners, Fayez Sarofim & Co., Geneva Partners, Lehman Brothers, New Millennium Partners and VIVENTURES Partners. Call 415/597-4830 for more information; or visit online at www.Adauction.com.

    Note to Editors: Adauction.com and the Adauction.com logo are either registered service marks or service marks of Adauction.com, Inc. All other company, brand or product names may be trademarks or registered trademarks of their respective owners.