MONTREAL, Canada, October 11 /PRNewswire/ --

- Firm Continues Spectacular Growth in Bringing Flash(R)-Based,
Rich Media Solutions to Digital TV, Mobile Phones and Consumer Electronics

Bluestreak Technology, Inc., the developer of the MachBlue(TM) platform
for mobile phones and digital television, announced today that it has secured
USD $20 million dollars in Series D financing. France's Iris Capital, a new
investor, led the round, which also includes internal investors Solidarity
Fund QFL, BDC Venture Capital and First Capital Group along with new investor
Tomorrow Group from Korea. Proceeds will be used to expand development of the
company's award-winning MachBlue(TM) platform and to further consolidate the
company's presence in the European and Asian markets.

Over the past months, Bluestreak has signed numerous deals, including
partnerships with Symbian and ACCESS, to establish MachBlue as the go-to
platform for the development of rich-media applications on mobile phones and
digital TV devices.

Alexander Wiedmer, partner at Iris Capital, stated, "We believe that
Bluestreak's unique technology is poised to capture a sizable market share in
Europe as operators look to leverage content through rich media applications.
Orange's success with its Bluestreak powered applications in France has
already validated this approach.''

Tomorrow Group Chairman Il Ho Kuk said that "Bluestreak's technology
represents the cutting edge in the rich media field. We look forward to
working together on the many business opportunities for the company in
Korea.''

"All areas of Bluestreak's business are witnessing incredible growth,
especially in Europe and Asia. We are pleased to accompany them in this next
growth phase" said Jacques Bernier, SVP information technologies,
telecommunications, and industrial innovations at Solidarity Fund QFL. Steven
Abrams, Director, BDC Venture Capital, added: "Bluestreak has been building
solid traction in the market and this funding will allow the company to
execute on these opportunities."

Bluestreak CEO Paul Forostowsky commented; "This has been a breakout year
for Bluestreak. Since the beginning of 2007 we've announced JAVA and BREW
versions of MachBlue Mobile and new partners in Dutch operator KPN and
Thomson on the DVB-H side. Our digital TV business has also been growing
substantially, with great strides in the IPTV sector. This latest round of
financing, propelled by geographically diverse investors, will allow
Bluestreak to further consolidate our position in the fast-growing rich media
market and to continue winning major accounts worldwide including in the
Chinese and Korean markets.''

Bluestreak will be exhibiting at the Symbian Smartphone Show in London on
October 16 & 17 and at the CTIA WIRELESS I.T. & Entertainment 2007, in San
Francisco from October 23 to 25.

MachBlue Mobile implements a subset of the Flash(R) 7 specification,
supplemented with the MachBlue Mobile API enabling enhanced handset control
and integration.

Flash(R) is a registered trademark of Adobe Systems, Inc. in the United
States and other countries.

About Bluestreak Technology, Inc.

Bluestreak Technology, formerly known as Bluestreak Technology Network,
is the creator of the award-winning MachBlue(TM) platform, which enhances
sophisticated applications and user interfaces on mobile phones and
television set-top boxes. The MachBlue platform gives network operators and
OEMs the power to create engaging, rich-media user experiences (UX).
Bluestreak Technology is a technology partner with such industry leaders as
STMicroelectronics, ACCESS, Orange, KPN, Videotron, Time Warner Cable,
Thomson, NDS and OpenTV. The company won top honors in the 2006 Orange
Partner Innovation Contest, an accolade awarded to the "Best of the Best" in
innovative mobile products, services, or technology concepts.

http://www.bluestreaktech.com

About Iris Capital

Iris Capital is a pan-European venture and development capital fund
specialising in media, communication and IT. Since its inception in 1986, the
Iris Capital team has invested in over 200 companies a total of more than
EUR750 million. Iris Capital targets opportunities in high-growth technology
or service companies, across various stages of development. It provides
active support to its portfolio companies related to its specialisation and
its experience. Based in Paris, the Iris Capital team has invested to date in
18 European countries as well as in North America.

http://www.iriscapital.com

About Tomorrow Group

Tomorrow Group Inc. is based in Korea with offices in Vancouver, Canada
and Dallas, USA. Tomorrow Group Inc. is founded on basis of three philosophy,
respecting nature, caring for mankind and nurturing and fostering human
potential. Tomorrow Group has diversified business interest from IT/Media,
Rotis Traffic information System, Internet TV, Multimedia Design, Kumkangsan
Land water park, Caribbean Seoul Water park, Hawk Eye Golf Course, Taeo water
park design and construction, Sutech waste management plant and Kuk Il Ho
scholarship foundation.

http://www.tomorrowgroup.co.kr

About Solidarity Fund QFL

With net assets of over US$7.2 billion as at May 31, 2007, the Solidarity 
Fund QFL is a development capital company that through its RRSP channels the
savings of Quebecers into investments in all sectors of the economy to help
create and maintain jobs and to further Québec's economic growth. The Fund is
a partner, either directly or through its network members, in 1,696
companies. It currently has nearly 575,000 shareholders and has helped, on
its own or with other financial partners, to create, maintain and protect
over 122,000 jobs.

For more information, visit http://www.fondsftq.com.

About BDC Venture Capital

BDC Venture Capital is a major venture capital investor in Canada, active
at every stage of the company's development cycle, from seed through
expansion. Its focus is on technology-based businesses that have high growth
potential and that are positioned to become dominant players in their
markets. Established in 1975, BDC Venture Capital has invested in over 400
different companies to date. It currently manages more than US$750 million in
venture capital investments in the areas of Life Sciences, Telecommunications
, Information Technology, Advanced Technologies, and Funds Investments.

http://www.bdc.ca

About First Capital Group

First Capital Group is a private investment firm that provides equity capital
to companies that fall into three general investment categories: early-stage,
expansion-stage, and management buyouts and special situation investments in
small and middle-market companies at more mature growth stages. Since its
inception in 1984, the principals of First Capital Group have established an
outstanding record of accomplishments and reputation for assisting management
of its portfolio companies in such areas as planning, capital formation,
capital budgeting, merger and acquisition evaluation, and planning and
executing exit strategies.

http://www.firstcapitalgroup.com