Audiofy Corporation Announces Investment by UPDC
by Anonymous

CONSHOHOCKEN, PA August 15, 2003 -— Audiofy Corporation, a company specializing in digital audiobook products, today announced that UPDC, a product development company, has made a strategic investment in the company. Audiofy, developer of the Audiofy(tm) player software, is creating a superior platform for creating and listening to audiobooks.

The Audiofy Player enables the listener to navigate the table of contents for eachaudiobook, and listen to audiobooks without the complications inherent incassette players and downloaded files. Audiofy's contract with Soulmate Publishing pairs the Audiofy Player with a new line of audiobook MP3-CDs featuring hundreds of unabridged titles from bestselling authors such as Nora Roberts, Tom Clancy, Ken Follett, Mario Puzo and Amy Tan.

"We’re excited that UPDC chose Audiofy as a strategic investment, validating ourdigital audiobook plans,” said Cartwright Reed, Audiofy Corporation's president and founder. “The Audiofy Player software remembers where you are in an audiobook, just as with a cassette layer, but it delivers the high audio quality and convenience of a digital solution."

“Enabling new markets through Universal Design principles is the primary focus for UPDC. We are extremely impressed with Audiofy's understanding of their market, their network of partners, and their portfolio of proprietary technology,” said Vincent Bell, UPDC's managing partner. Bell, a retired president of Safeguard Scientifics, added: “Audiofy is well positioned to benefit from the transition from analog to digital media and the success of hand-held audio devices in the consumer market.”

About Audiofy Corporation
Audiofy Corporation develops products for the digital audiobook market, working with the industry to transition away from cassette tape, the current audiobook standard, into the digital world. The Audiofy platform makes it easier to read audiobooks, enabling a new audience for audiobook content. For more information, visit their website at www.audiofy.com or contact info@audiofy.com.

About UPDC
UPDC (Universal Product Development Company) is a product development company founded by Vincent Bell. UPDC combines his entrepreneurial experience with the award-winning industrial design and engineering experience of Bresslergroup; a Philadelphia ID firm founded by Peter Bressler. With over 30 years of experience investing in the Delaware Valley, the founders of UPDC focus on early stage companies creating products based on Universal Design principles, or those related to energy conservation. For more information, visit our website at www.updc.biz.



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