RSUB ACQUIRES MAJORITY STAKE IN MICHAEL STIPE'S FILM VENTURES

In an unprecedented agreement with radical implications in the entertainment world, digital entertainment company RSUB (formerly a division of Razorfish, Inc. (RAZF)) has acquired a majority stake in SELF TIMER, the newly-formed parent company of Single Cell Pictures and C-Hundred Film Corp., two film companies founded and run by R.E.M. lead singer/film producer Michael Stipe, best known for the award-winning motion picture "Being John Malkovich". "This partnership will revolutionize the way motion pictures are financed, created, acquired and distributed to the public," said Michael Simon, President of RSUB. "Now Self-Timer can create, promote and distribute films under the traditional independent and studio systems, while expanding into the digital environment." The mid- seven figure agreement includes a discretionary development fund and unites three immensely creative firms with expertise in film, video, television, publishing, artist management and digital media. "It was important for me to join up with a group of people who understand and are, today, actively shaping every avenue of entertainment and media. At RSUB, its not just talk and lofty ideas-it's the application of lofty ideas," said Michael Stipe, "Check out their website-the proof's in the dot.com." "I'm extremely pleased to be working with Michael Stipe and his organization to create the most interesting filmed entertainment in the world, and to exploit thoroughly the enormous commercial opportunities presented by RSUB's command of digital marketing, distribution, e-commerce, and merchandising," said Jeff Dachis, CEO of RSUB. "Ideas realized by Michael Stipe and SELF TIMER in film will become fully-integrated entertainment experiences; they will find their expression in audio, print and digital media."

The SELF TIMER subsidiaries will retain their respective identities and creative autonomy. Both companies have a proven track record of critically acclaimed films, including Oscar-nominated, "Being John Malkovich," Sundance festival winners, "American Movie," "Girl's Town" and Cannes Festival Winner, "Velvet Goldmine".

Craig Kanarick, Chief Creative Officer at RSUB, said, "The possibilities of this partnership are virtually limitless. We now have a complete team of innovative entertainment producers across a wide spectrum of media."

Stipe and film producer Sandy Stern founded Los Angeles-based Single Cell Pictures in 1995. The pair served as Executive Producers of "Velvet Goldmine" and, most recently, produced "Being John Malkovich." "Malkovich" won an Independent Spirit Award for Best Feature Film and Best Screenplay, a British Academy of Film and Television Award for Best Screenplay, a PGA Producer's Visionary Award, a GLAAD Award for Best Feature Film and appearances on over 175 critic's 1999 top ten best picture lists.

C-Hundred Film Corp, based in New York City, was co-founded in 1987 by Michael Stipe and Jim McKay, a film and video maker best known for "Girls Town," recipient of the Filmmakers Trophy and a Special Jury Prize for Collaboration at Sundance in 1996. More recently, McKay produced the Sony Pictures Classics distributed "American Movie," winner of the 1999 Sundance Film Festival Grand Jury Prize and the critically acclaimed "Spring Forward." McKay and C-Hundred have also just completed "Our Song," which was screened at both Sundance 2000 and New Directors/New Films in New York.

The first RSUB/SELF TIMER project under the Single Cell banner is "13 Conversations About One Thing," written by Jill and Karen Sprecher, to be directed by Jill Sprecher and which is currently casting.

Upcoming RSUB/SELF TIMER projects under the C-Hundred banner include:

"Backward Looks, Far Corners," directed by Christopher Munch;
"The Grass is Greener," directed by Lisa Collins;
"Hostage," directed by Walid Raad; and
"Stranger Inside," directed by Cheryl Dunye.

RSUB is a subnetwork of talent, ideas and relationships that creates and distributes cutting-edge entertainment across all media, including books, music, clothing, movies and digital media. Founded in 1997, the New York City-based company is dedicated to the dissemination of ideas and products valued above all for their creative and artistic integrity. The company's long standing reputation for innovation and creative excellence has attracted talent from all facets of the media and entertainment industries including internationally renowned contemporary artists George Condo and Ryan McGinness; recording artists Canibus, Cooly's Hot Box, Ticklah and The Honeydogs; photographer Danny Clinch, and many many more. RSUB.com is the online home for all of the company's activities and has been added to the permanent collection of the San Francisco Museum of Modern Art. Check out RSUB at http://www.rsub.com.

SELF TIMER was represented in this transaction by Sue Bodine of the firm Epstein Levinsohn Bodine Hurwitz & Weinstein. For more information please contact: Karen Freed Ken Weinstein Nadine Johnson 818.506.7887 Big Hassle Media Nadine Johnson, Inc. 212.366.4492 212.228.5555

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