Media Derivatives, Inc., a subsidiary of Veriana Network's Inc., has submitted an application with the Commodity Futures Trading Commission ("CFTC") to become a designated contract market. Pending CFTC approval, the company intends to establish an electronic exchange that will offer contracts for trading that may be used to offset certain of the risks associated with producing and distribution of motion pictures.

Media Derivatives is a privately funded venture with multiple investors. Its directors and advisors include prominent members of the entertainment and financial services industries. Its senior management includes veterans of the Chicago exchange community.

Further information on the exchange will be released in the near future.