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iUniverse Sets New Industry Milestone: Over 500,000 Books Sold

Press release from the issuing company

CAMPBELL, CA - MAY 31, 2001 - iUniverse, the leading provider of digital content technology and services, today announced that the company has recently printed and sold its 500,000th book. This announcement marks a significant milestone for the company as it continues to lead the market with its advanced digital content infrastructure. "Every person has a story to tell," said Doug Bennett, President and COO of iUniverse. "Whether they're an aspiring best-selling author or wanting to detail their family history, we're giving authors the opportunity to realize their dreams ‹ to see their book in print. Breaking the 500,000 mark is a testament to people's desire to share their stories and our commitment to provide a high quality publishing experience and the most comprehensive distribution network available." How It Works iUniverse's unique and advanced technology allows authors to self-publish. The use of the technology effectively eliminates the traditional publishing barriers to entry, giving everyone equal opportunity to share their stories and print as many or as few books as they desire. The print-on-demand element of iUniverse's technology makes this possible. On-demand publishing allows books to be printed and bound one at a time, economically and quickly. To help individual authors produce high quality published works, iUniverse offers manuscript review services and custom cover design. Once the book is published, iUniverse offers the most comprehensive distribution available through tens of thousands of bookstores and online retailers. "We're out to change the traditional publishing rules and will continue to extend our digital content technology to anyone with information to share ‹ individuals, enterprises and institutions around the world," said Bennett. Taking the Lead iUniverse's success with individual authors has fueled the company's aggressive growth. Through its unique "Publish Your Book" program, iUniverse works with industry leading partners such as, Barnes&Noble.com, BooksAMillion.com and Education World, to extend its self-publishing capability to their customers ‹ effectively providing millions of additional individuals with a fast, easy and efficient path to becoming published authors. Continuing to communicate the breadth and depth of services is a top priority for the company. iUniverse recently launched a new marketing campaign to extend its leadership footprint in the market and continue to capture mind share. Significant Milestones Earlier this year, the company announced a $21 million investment from Warburg Pincus as well as the acquisition of Corporate University Exchange. The company also announced two custom publishing programs, one with Microsoft Press and the other with Hungry Minds, Inc. The application of iUniverse's technology allows Microsoft and Hungry Minds customers to browse, compile and purchase individual chapters from selected Microsoft, Frommer's, Cliff's Notes and Dummies Guide titles.