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EXHIBIT 99.1
FOR MORE INFORMATION:
Digital Lava contact: FOR IMMEDIATE RELEASE
DANNY GAMPE
310/577-0200
[email protected]
DIGITAL LAVA INC. POSTPONES ANNUAL MEETING
MARINA DEL REY, CALIF. (MAY 30, 2000) - Digital Lava Inc. (DGV: AMEX), today
announced that its Annual Meeting of Stockholders originally scheduled to be
held at 3:00 p.m. on May 31, 2000 is being postponed until a later date, which
the company presently anticipates will be in early July. The purpose of this
change is to allow Digital Lava's stockholders to consider an additional
proposal related to the company's financing alternatives and to authorize the
issuance of additional shares. The rules of the American Stock Exchange, on
which Digital Lava's shares are listed, require stockholder approval of share
issuances under certain circumstances. Therefore, in order to comply with the
rules of the American Stock Exchange and to allow stockholders time to consider
this proposal in light of the information presented in the company's current
proxy statement, the company will provide stockholders with a supplemental proxy
statement with more information about the proposed transaction. Digital Lava
will hold its Annual Meeting as soon as practicable following the distribution
of supplemental proxy materials.
ABOUT DIGITAL LAVA
Digital Lava is a communications Application Services Provider (ASP) that offers
rich mixed media software applications that seamlessly link digital video and
audio content with a variety of other formats such as text, graphics, animation
and web links. Our robust in-house service offering provides a turnkey solution
that delivers rich media quickly and efficiently. These solutions provide
end-users with a fully integrated and interactive experience on their computer
desktops delivered via the Internet, Intranet, extranet, DVD, CD-ROM or any
combination. Our business-to-business solutions are employed by Fortune 1000
companies in corporate communications, sales, marketing and
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training applications. Digital Lava's partners and clients include Microsoft,
InterVu, RealNetworks, Cisco Systems, Dell Computers, Hewlett Packard, KPMG,
Prudential Insurance, Lotus Development Corporation, Shell Chemical and
Zurich-American Insurance. Digital Lava is headquartered in Marina del Rey,
California. For additional information, please visit Digital Lava's Web site at
http://www.digitallava.com or call 1-888-222-LAVA.
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THIS PRESS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS CONCERNING THE
BUSINESS AND PRODUCTS OF THE COMPANY. ACTUAL RESULTS MAY DIFFER FROM THOSE
PROJECTED OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS DEPENDING ON A
NUMBER OF RISKS AND UNCERTAINTIES INCLUDING, BUT NOT LIMITED TO THE
FOLLOWING: DEVELOPMENT, SHIPMENT AND MARKET ACCEPTANCE. OTHER RISKS
INHERENT IN THE BUSINESS OF THE COMPANY ARE DESCRIBED IN SECURITIES AND
EXCHANGE COMMISSION FILINGS, INCLUDING THE COMPANY PROSPECTUS ON FORM SB-2.
THE COMPANY UNDERTAKES NO OBLIGATION TO REVISE OR UPDATE ANY
FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER THE
DATE OF THIS RELEASE.
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