On2 Technologies Inc. and Hantro[On2 Technologies Inc. Will Have a Big Move Wtihin Weeks

On2’s video technologies are the de-facto standard for Internet video through inclusion in Adobe® Flash® Player 8 and 9. On2 codecs are used by leading web publishers as well as VoIP and mobile video companies such as Move Networks, Skype and ChinaMobile. On2 currently has more than 1 billion deployments of its codecs. As a result of the Hantro acquisition, the combined company will offer a full range of products and capabilities for video applications ranging from very low data rates to high-definition video across web, embedded devices, consumer devices and mobile/Wifi applications

“Hantro is a great example of Nexit’s successful strategy of finding and investing in companies with breakthrough innovations in the rapidly growing mobile ecosystem,” said Pekka Salonoja, General Partner, Nexit Ventures, and Chairman of the Board, Hantro Products. “On2’s codecs are used in nine out of ten PCs in the world through Adobe® Flash® Player. As a result of the acquisition, Hantro can help bring this technology to mobile devices. This is the first time that all the most significant advanced video formats will be available from one provider.

“This is the first time that all the most significant advanced video formats will be available from one provider.”

Uncertainty around On2 will clear up quickly; before, during, and after the October 10, 2007 Annual Stockholders Meeting.

“The meeting was called for the purpose of considering the following proposals:
(1) to amend the Company’s bylaws to increase the number of members of
its Board of Directors (Proposal #1);

(2) to elect a Board of Directors of the Company (Proposal #2);

(3) to approve an amendment to the Company’s Certificate of Incorporation
to increase the number of authorized shares of the Company’s common
stock (Proposal #3);

(4) to approve the issuance of shares of the Company’s common stock to be
exchanged for all of the issued and outstanding equity securities of
Hantro Products Oy, so that Hantro will become a wholly-owned
subsidiary of the Company (Proposal #4);

(5) to authorize the Board of Directors to amend the Company’s
Certificate of Incorporation to effect a reverse stock split of its
outstanding common stock at a ratio of one-for-five (Proposal #5);

(6) to approve an amendment to the Company’s Certificate of Incorporation
to decrease the number of authorized shares of the Company’s common
stock to 55,000,000 conditioned on the approval and implementation of
Proposal No. 5 (Proposal #6);

(7) to increase the number of authorized shares under the Company’s 2005
Incentive Compensation Plan (Proposal #7);

(8) to ratify the selection of Eisner LLP as the Company’s independent
registered public accounting firm (Proposal #8); and

(9) to transact any business as may properly come before the meeting and
any adjournments thereof (Proposal #9). “

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