Nokia Chooses Loudeye to Develop a Next-Generation Wireless Digital Music Platform

August 9, 2004

Loudeye Corp., the worldwide leader in business-to-business digital media solutions, today announced a multi-year agreement with the Multimedia business group of Nokia to develop an advanced wireless digital music platform for mobile operators and their subscribers worldwide. This agreement includes a multi-million dollar commitment to Loudeye for development fees and defines a global collaboration framework between the companies. Additional details regarding the collaboration, as well as the platform and its availability, will be announced at a later date.

"This agreement with Nokia represents a significant strategic opportunity for Loudeye to work with the leading mobile communications company in the world to develop an advanced wireless music platform," said Jeff Cavins, Loudeye's president and chief executive officer. "We are very excited about our relationship with Nokia and look forward to sharing more details in the future."

About Loudeye Corp.

Loudeye is the worldwide leader in business-to-business digital media solutions and the outsourcing provider of choice for companies looking to maximize the return on their digital media investment. Loudeye combines innovative products and services with the world's largest music archive and the industry's leading digital media infrastructure enabling partners to rapidly and cost effectively launch complete, customized digital media stores and services. For more information, visit http://www.loudeye.com.

Forward Looking Statements

This release contains forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current estimates and actual results may differ materially due to risks, including the completion of the development of the platform; possibility of adverse changes in the market for distribution of digital music that Loudeye serves; adverse or uncertain legal developments with respect to copyrights surrounding the creation and distribution of digital content; pricing pressures and other activities by competitors; lack of market acceptance for Loudeye's products and services; the possible delay in the adoption of digital media or related applications on the web in general; and other risks set forth in Loudeye's most recent Form 10-Q, Form 10-K and other SEC filings which are available through EDGAR at http://www.sec.gov. Loudeye assumes no obligation to update the forward-looking statements.

Source: Loudeye Corp.