iBiquity Digital Names Patrick M. Walsh as Chief Financial Officer

Columbia, MD and Warren, NJ, (October 4, 2002) - iBiquity Digital Corporation, the sole developer of HD Radio™ technology, today announced the appointment of Patrick M. Walsh as Chief Financial Officer. Walsh had been a vice president at iBiquity, responsible for business and financial planning and business development activities. Additionally, Walsh was an integral part of the company's fundraising activities, interfacing with investors and financial analysts. Prior to his new role as CFO, Walsh was instrumental in the development of the wireless data business including the management of the recent Command Audio acquisition. iBiquity's future wireless data efforts will be led by Thomas Linden, Command Audio's former CTO who was recently named iBiquity's vice president of data development and architecture and Joseph D'Angelo, director of wireless data business development.

Before joining iBiquity, Walsh was a management consultant with McKinsey & Company. He was a leader in the McKinsey's automotive and financial services practices. Prior to joining McKinsey, Walsh, a Certified Public Accountant, served in a variety of financial management roles at General Motors and Deloitte & Touche. Walsh earned a Bachelor of Business Administration degree in finance and accounting from the University of Michigan, and an MBA from Harvard Business School, where he was a General Motors Fellow.

"Pat has provided important leadership in our financial planning and strategy efforts since joining our team," said Robert J. Struble, iBiquity's president and CEO. "As we launch HD Radio technology, a strong CFO is critical to assist in managing our growth plans. The leadership role Pat has already played on our senior management team combined with his deep finance and accounting experience makes him the ideal candidate to lead our finance team."

Joe D'Angelo, Director of Wireless Data and PAC Business Development, will assume the business responsibilities vacated by Walsh for developing iBiquity's leadership in the data services market. He is also responsible for strategic planning and licensing of iBiquity's PAC audio compression technology to satellite radio providers, audio equipment manufacturers and music content distributors. D'Angelo is also involved with commercializing the wireless data capabilities associated with iBiquity's technology working specifically with information/content providers, broadcasters and device manufacturers.

Prior to joining iBiquity, D'Angelo was a Principal at PricewaterhouseCoopers in their Information, Communication and Entertainment consulting practice. During his tenure, he worked closely with Telecommunications and Entertainment companies assisting with strategic planning, corporate restructurings, global expansion and mergers and acquisitions. Prior to joining PricewaterhouseCoopers, D'Angelo gained experience in marketing, business development and technology as a manager with Andersen Consulting and a consultant to A&E Networks. Walsh's management of the Command Audio acquisition resulted in the hiring of Thomas Linden as the Vice President of Data Development and Architecture. Linden will lead the development of the iBiquity's data architecture and implementation of all data products and services. He will also manage the company's Redwood City, CA office.

Linden brings more than 25 years of experience in product development and technology deployment to iBiquity. Prior to joining iBiquity, Linden was CTO and VP of Engineering at Command Audio where he developed advanced data applications for the XM satellite and Eureka-147 digital audio broadcast systems. He has also served as Chief Architect and Senior Director at Oracle Corp., and as Director of Advanced Systems, Networks and Telecommunications at Advanta Financial Corp. in Philadelphia. He also held a number of senior management positions with IBM and directed several product groups worldwide. Linden has been a corporate technical authority to several standardization bodies including WorldDAB, TV-Anytime, ISO and ANSI working groups. Linden holds a M.S. in computer science from Stanford University.

About iBiquity Digital (www.ibiquity.com)

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, Lucent, Texas Instruments and Visteon. iBiquity Digital is a privately held company with operations in Columbia, MD, Detroit, MI, Redwood City, CA and Warren, NJ.

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