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Onstream Media Signs MarketPlace365 Master Agent Agreement with WebiMax

WebiMax ranked by TopSEOs as the World's Number One Search Engine Optimization Firm

POMPANO BEACH, FL – May 05, 2011 - Onstream Media Corporation ( OTC: ONSM), a leading online service provider of live and on-demand corporate web communications, virtual event technology and social media marketing, today announced that WebiMax, a leading provider of Internet marketing solutions and search engine optimization, has signed a MarketPlace365 Master Agent Agreement. WebiMax is currently the world's leading provider of Search Engine Optimization (SEO) services, according to the TopSEOs website, which identifies itself as an independent authority on search vendors.

Since its creation, WebiMax has sought to provide their blue chip client base with solutions to increase online viability, lead generation and conversions. MarketPlace365 will now become an integral part of WebiMax's highly acclaimed Internet marketing solutions.

"MarketPlace365 is a perfect complement to our existing business," said Mr. Wisnefski. "We are excited to be working with the premier provider of this innovative leading virtual tradeshow technology and believe our clients will embrace the MarketPlace365 solution as an extension to their overall marketing strategy. In addition, we look forward to establishing relationships with many of the MarketPlace365 promoters with an overall aim of improving their social media marketing and lead generation results."

The strategic relationship is poised to take MarketPlace365 to the next level. WebiMax's consistent ability to provide highly valued Internet visibility for their clients, combined with the qualified lead generation and social media marketing capabilities of MarketPlace365, has forged a powerful partnership. As a key aspect of the understanding, WebiMax is expected to assist Onstream Media with their MarketPlace365 SEO implementation strategy, with a goal of ensuring that Onstream's MarketPlace365 is fully optimized for maximum exposure. Furthermore, Webimax Founder and CEO Ken Wisnefski is considered one of the world's leading authorities on Video Search Engine Optimization (VSEO). The multimedia nature of MarketPlace365 is a perfect fit with Mr. Wisnefski's VSEO expertise.

Randy Selman, President and CEO of Onstream Media, stated, "We are excited to work with WebiMax, ranked by TopSEOs as the number one provider of search engine optimization services in the world. The impact on the highly focused vertical search capabilities of MarketPlace365 as well as the SEO benefits to our promoter base will undoubtedly have a profound effect on our positioning as a leading provider of virtual trade show and event technology."

WebiMax will also be featured in the MarketPlace365 resource hub and is expected to provide preferred pricing to Onstream Media's MarketPlace365 client base. Increased visibility through the use of WebiMax's suite of Internet marketing services is anticipated to leverage the exponential nature of MarketPlace365's social media elements and create new potential revenue opportunities for show organizers and venders alike.

MarketPlace365 is a comprehensive, online lead-generation and communications virtual conference and trade show platform that enables publishers, associations and tradeshow organizers to quickly, easily and affordably self-deploy and manage their own online multimedia "marketplace," while creating a compelling social-media experience for the attendee. MarketPlace365 brings communities with common interests together online for commerce and information exchange. MarketPlace365 features include: social networking, search engine optimization, advanced analytics, videos, webinars, presentations and a full suite of marketing and communications tools. For more information, visit www.MarketPlace365.com.

About WebiMax:

WebiMax is a leading provider of SEO (Search Engine Optimization), social media, PPC (Pay-Per-Click) management, web design, eCommerce solutions and reputation management services. Its global presence has allowed them to work as an effective strategic partner with their client base, helping each client reach their goals through a proven optimization plan. They focus on lead generation, online visibility and increased sales. Select WebiMax customers include: Marriott, Harrah's Casino, Sam's Club, Braun, FitClick, Hay Group and Blue Mile Cloud. www.webimax.com

About Onstream Media:

Onstream Media Corporation, is a leading online service provider of live and on-demand corporate web communications, virtual event technology and social media marketing. Onstream Media's innovative Digital Media Services Platform (DMSP) provides customers with cost effective tools for encoding, managing, indexing, and publishing content via the Internet. The company's MarketPlace365 solution enables publishers, associations, tradeshow promoters and entrepreneurs to rapidly and cost effectively self deploy their own online virtual marketplaces. In addition, Onstream Media provides live and on-demand webcasting, webinars, web and audio conferencing services. To date, almost half of the Fortune 1000 companies and 78% of the Fortune 100 CEOs and CFOs have used Onstream Media's services. Select Onstream Media customers include: AAA, Dell, Disney, Georgetown University, National Press Club, PR Newswire, Shareholder.com (NASDAQ), Sony Pictures and the U.S. Government. Onstream Media's strategic relationships include Akamai, BT Conferencing, Qwest and Trade Show News Network (TSNN). For more information, visit Onstream Media at http://www.onstreammedia.com or call 954-917-6655.

Cautionary Note Regarding Forward Looking Statements

Certain statements in this document and elsewhere by Onstream Media are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such information includes, without limitation, the business outlook, assessment of market conditions, anticipated financial and operating results, strategies, future plans, contingencies and contemplated transactions of the company. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors which may cause or contribute to actual results of company operations, or the performance or achievements of the company or industry results, to differ materially from those expressed, or implied by the forward-looking statements. In addition to any such risks, uncertainties and other factors discussed elsewhere herein, risks, uncertainties and other factors that could cause or contribute to actual results differing materially from those expressed or implied for the forward- looking statements include, but are not limited to fluctuations in demand; changes to economic growth in the U.S. economy; government policies and regulations, including, but not limited to those affecting the Internet. Onstream Media undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements as a result of certain factors, including those set forth in Onstream Media Corporation's filings with the Securities and Exchange Commission.

ONSM Media Relations:
Chris Faust

ONSM Investor Relations:
Alon Kutai
ProActive Newsroom