Net loss for year ended February 28, 2007 was $7,061,474, or a loss of $0.16 per common share, versus a net loss of $4,289,777, or a loss of $0.13 per common share, for the prior year.

David C. McCourt, Chairman and interim CEO of Narrowstep, commented on the earnings release, saying, "This was a great year for Narrowstep. Although we spent more time than expected cleaning up old issues, we still grew revenue by 122%, and took out over 30% of non-sales SG&A headcount and increased the sales force by over 85%. Going forward, Narrowstep should maintain its position as the premier choice for a company looking to monetize its content online."

Narrowstep expects to attain profitability by streamlining existing costs, growing revenue and investing in technology. Management believes that these efforts will allow the company to continue to provide what they believe is the best opportunity for customers to monetize their content, while offering a superior end-viewer experience.

Commenting on the growth of the business, David McCourt said, 'We are continuing to build a world-class team experienced in scaling operations. We will continue to execute on our vision to provide the most flexible service offering to content owners for monetizing their assets."

Narrowstep management will host a conference call to discuss the results on Friday, June 1, 2007 at 11:00AM EDT, and it will be broadcast live over the Internet. Those interested in listening to the live webcast may do so by going to the Company's website at www.narrowstep.com or to www.vcall.com.

Web participants are encouraged to go to either website at least 15 minutes prior to the start of the call to register, download, and install any necessary audio software. The audio and online archives will be available shortly after the conclusion of the call and continue to be available for seven days.