As a result, and after careful consideration by the Board of Directors, the Company has made the decision to significantly restructure its business to focus on its e-commerce visualization solutions and to divest its graphics software assets that do not complement this strategy. This will result in the reduction of approximately 100 of MetaCreations' personnel by year end, all of whom are associated with the professional graphics business of the Company. The Company expects to report a loss of approximately $38 million to $42 million this quarter, substantially as a result of this decision. Additionally, the Company expects that revenues this quarter will be significantly less than analysts' forecasts. The Company also expects that cash balances will remain strong at Dec. 31, 1999, approximating $36 million to $38 million, reflecting that most of the charges are non-cash. At the same time, the Company is aggressively ramping up its personnel and expenditures in MetaStream.com to accelerate the deployment of its e-commerce visualization solutions. MetaStream 3.0 will provide many new, advanced forms of interactivity, improved rendering and compression levels for both 2D and 3D imagery, content security, data collection, and the ability to seamlessly integrate other media types, such as audio, vector graphics, video and object movies. This means that e-retailers can give shoppers the confidence that what they see is what they get. This is a major step forward in moving shoppers past items like books and CDs, to must-see products like personal electronics, apparel, furniture, appliances and automobiles.

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