CONFIDENTIAL Grouper Overview for SPTI March 2007

page 1 SPE Acquired Grouper in August 2006 Since acquisition Grouper has focused on: –Integrating with Sony –Increasing audience –Growing its base of user generated videos In June 2007 Grouper will re-launch, emphasizing: –Differentiated content –Superior programming –Advertising / monetization Grouper Background

page 2 Establish Grouper as a trusted and recognized brand for online video by combining the viral nature of user-generated video with the quality of “Hollywood” content Develop best-of-breed programmed channels, including a mix of originally- produced, third-party commissioned, and user-uploaded videos Secure compelling, high quality content by providing incentives including a “pathway to recognition” for content creators Re-launching Grouper in June with a focus on differentiated content programmed on a channel basis Grouper 3.0 Overview

page 3 HQ in Sausalito, California (Grouper management, technology, development) Programming coordinated between Sausalito and SPE in Los Angeles Ad sales headed up by SPTAS team in New York - will largely be focused on U.S. advertisers for domestic ad buys To date, content base dictated by geography of uploading audience (i.e. no formal domestic or international focus) Grouper 3.0 content – both acquired and produced – will be geared to domestic (North American) users Grouper Resources & Expertise Grouper resources and expertise are primarily domestic today

page 4 Although North America represents its largest market, Grouper has built a large international user base that has yet to be monetized N.A.:38% W. Europe: 20% Asia: 35% Australia: 2% S.A.: 2% Africa: 1% E. Europe: 3% Grouper has over 9MM global Unique Users Over 60% of audience is international with a majority located in Asia and W. Europe + 6MM International UU To date, Grouper has not yet initiated international ad sales efforts International Audience

page 5 International Opportunities Grouper & SPTI will coordinate to monetize large international audience base –SPTI to sell run-of-sight video interstitials, banner ads, and remnant banners –FY08 budget assumes ~$750k of international Grouper revenue FY08 will serve as a foundation for further growth –Slow ramp-up period assumed for first 6 months of FY –Build advertising base both for Grouper and other SPTI properties Deals to be sold and ads placed on a local / regional basis –Opportunity to sell ads on a global basis over time Grouper’s international audience represents a significant, untapped opportunity for SPTI to generate incremental ad sales revenue

page 6 International Revenue Assumptions Key StatsBegin FY08End FY08Total Global UU (MM) Int’l UU (MM) Non U.S. Int’l Streams (MM)1,118 Int’l Impressions (MM)1,020 Int’l Sell-Out Rates5%19%Begin Aug; reach 19% in Oct Int’l Gross CPM Video Ads$15.00 CPMs hold steady over year Banner Ads$2.00 Remnant$0.45 FY08 Revenue Video Ads$393,000 Banner Ads$287,000 Remnant$45,000 Total$725,000