Mediachest Taps Social Software to Create World's Largest Library

Mediachest.com launches an initiative to build the world's largest independent library of books, DVDs, CDs and video games by utilizing social networking software technologies. Visit http://www.mediachest.com to learn more.

ATHENS, GA, USA — February 24, 2004 — Mediachest, Inc. announced today the release of its website, Mediachest.com, which enables its members to borrow books, DVDs, CDs and video games from anyone in the world, including friends, strangers who live in the same area or across the United States, and citizens of other countries.

Mediachest.com allows members to manage their collections of books, DVDs, CDs and video games by creating a personal library. The site facilitates both the borrowing and lending of these items in a fashion similar to online auctions — without the fees. Mediachest's system offers, free of charge, user profiles, feedback pages and popularity rankings. Employing "2-way borrows" ensures that the system is not abused. Mediachest members can search and view other members' collections based on a variety of categories including personal friend groups, geographic proximity (via zip code), or other external groups such as student organizations, university departments, work place groups and more.

Mediachest plans to create the world's largest library of shareable media items by cataloging the books, DVDs, CDs and video games of its members. Since Mediachest.com was officially launched just one week ago, it has already been listed on Yahoo's "New & Notable Sites" and has added more than 100,000 media items —with a retail value of over $2,000,000— to its shareable library for Mediachest members.

Mediachest is a free service and members do not pay subscription or transaction fees in order to organize, list, share or borrow media. Members decide how much or how little of their collection they want to share.

Founded in July 2002, by Michael Edwards and Ned Watson, Mediachest is headquartered in Athens, GA, USA, in the Athens New Media Synergy Center, a high-tech business incubator sponsored by the University of Georgia Research Foundation.

Mediachest and Mediachest.com are trademarks of Mediachest, Inc.