Elgato reorganizes

Elgato reorganizes with new leadership, new name, and renewed purpose

MACWORLD, New York, NY -- July 14, 2003 - Elgato Systems (www.elgato.com), the developer of EyeTV digital video recorder, today announced that Freddie Geier, formerly Senior Director of Business Development at Apple Computer Inc., is joining the company as its new President and CEO.

Markus Fest, Elgato’s Chief Technology Officer and inventor of Toast CD recording software for Macintosh, comments: "We are thrilled to have Freddie with us. His tremendous knowledge of the multimedia software industry and the Macintosh marketplace are just what we need to take the organization to the next level".

Mr. Geier joined Apple in early 2000, after Apple acquired the DVD software developed by ASTARTE, where he had General Manager responsibilities. Prior to that, Freddie was leading the worldwide Sales and Marketing team at ASTARTE that made Toast a household name in the Mac community.

While at Apple, Freddie managed important application development projects as well as strategic business development tasks like the acquisition of Emagic. Commenting on his new role, Freddie said, "I’m very excited to take on this new challenge. Elgato has incredible talent and exceptional potential. We are working on an amazing new product roadmap for a target market that is growing exponentially. I am looking forward to leading this very dynamic team".

Both Elgato and MILES to operate under the same name

Effective today, MILES, Elgato's parent company, will begin operating under the name Elgato. To promote international name recognition, all future communications will be made under the Elgato brand. Elgato will have its headquarters in Munich, Germany and retain its US subsidiary in San Francisco, California. The company has earned a reputation as a premier software development organization by creating award-winning products for Macintosh over the past 10 years.

Elgato to focus on digital media solutions for the Mac

Last year Elgato excited the Macintosh community at the Macworld Expo in New York with the release of their first product, EyeTV digital video recorder.

EyeTV digital video recorder is the ingenious device that lets you watch and record television on your Mac. With EyeTV digital video recorder you have the power to pause, skip and record "live" television and resume watching whenever you're ready. EyeTV frees you from network schedules by giving you the power to watch your favorite TV programs when it is convenient for you.
"Elgato will continue adding new features and functionality to the existing EyeTV product line, as well as developing new solutions that harmonize the Macintosh, its digital media and television", announces Freddie Geier, Elgato’s new CEO.

About Elgato Systems

Elgato Systems creates award-winning products that enable customers to watch, record, edit and share video and TV within the digital home. The highly acclaimed EyeTV series is the world leader in digital TV recording and High Definition TV for the Mac. EyeConnect is the premier solution for streaming Mac content to networked media players in the home.

Founded in 1992 by Dr. Markus Fest, the inventor of Toast® CD recording software, Elgato is a privately held company with headquarters in Munich, Germany and a US subsidiary in San Francisco, California. www.elgato.com

Other company and product names may be trademarks of the respective companies with which they are associated.

For further information please contact:

Lars Felber
Elgato Systems
publicrelations@elgato.com

Press Releases
07/14/2003