AmieStreet.com Launches Brand New Website On The Heels Of Double Digit Customer Growth,

Kicks Off Series B Financing

New York, NY, Oct. 15, 2008 — AmieStreet.com, the fast growing online music retailer, launched a new website today, unveiling a new look and user interface plus a number of new features.

“The new design and features are driven by extensive ‘voice of customer’ research to make music discovery easier and more personalized,” said Elliott Breece, co-founder of AmieStreet.com. “We’ve had strong customer growth because of the popularity of our unique community driven pricing model. Now we’re excited to leverage a brand new web site and music discovery experience to really accelerate that growth.”

The new AmieStreet.com, now in beta, comes a year after announcing a strategic investment by Amazon.com. During this time, AmieStreet.com has increased the size of its music catalog more than ten fold, from less then 100,000 DRM-free mp3s to over 1,000,000 and the company has grown from 5 to 21 employees.

As the site’s music catalog has grown, so has its ability to attract new customers. Building on its strong customer growth, AmieStreet.com is raising its Series B round of financing with strong participation from existing investors.

In just the last three months (July-September), AmieStreet.com has grown its customer base by an average of 18% month over month, while continuing to maintain an average annual spend of $30 per customer.

AmieStreet.com has also reversed the industry-wide trend of consumers buying fewer and fewer albums and opting to purchase singles instead. It’s unique pricing model, which prices music based on consumer demand, has led to a sharp increase in album sales versus single song purchases. For 2007, the ratio of all digital songs sold to digital albums sold was 17:1, according to the industry’s leading trade organization, the IFPI. AmieStreet.com has an album to song ratio of 1:1.