NEW YORK, Feb. 28 /PRNewswire-FirstCall/ -- On2 Technologies, Inc. , announced today the appointment of Christian & Timbers to conduct its search for a permanent CEO. Christian & Timbers, which ranks among the top ten executive search firms in the Unites States, has an extensive track record of successful senior management placements in the technology sector. James Meyer, interim CEO of On2 Technologies, will lead the search process on behalf of On2's Board of Directors.

Umesh Ramakrishnan, vice chairman of Christian & Timbers, will direct the search effort, which will include consideration of internal and external candidates.

"On2 Technologies has made great progress in recent years. Our codec technology has been embraced by some of the largest enterprises in the industry," said Mr. Meyer. "Now we need an energetic, strategic leader to help the Company capitalize on this momentum. We have confidence that Christian & Timbers will help us identify that leader."

"On2 Technologies is a technology company with a promising future," added Umesh Ramakrishnan, vice chairman of Christian & Timbers. "I am pleased to be tasked with bringing in a new leader who can help On2 realize its potential."

About Christian & Timbers

Since 1980, Christian & Timbers has been a performance-driven executive search firm serving Fortune 500, NASDAQ, and pioneering venture backed companies. The firm's proven strategic search methodology strives to exceed client expectations and is supported by industry-best service, intelligence, and proprietary technology tools. With expertise in technology, financial services, life sciences, media/entertainment, professional services, consumer/retail, industrial/manufacturing, and demonstrated success in Board Services, serving Private Equity and Venture Capital clients, Christian & Timbers delivers exceptional results by providing clients top candidates for their leadership roles.

Christian & Timbers has its world headquarters in New York, NY and offices in Boston, MA; Cleveland, OH; Columbia, MD; Menlo Park, CA; Washington, D.C.; Paris, France; and London, England. For additional information on Christian & Timbers, visit http://www.ctnet.com/.

About On2 Technologies, Inc., The Duck Corporation

On2 Technologies is a leading technology firm at the forefront of digital video compression. The company revolutionized digital media delivery with the creation of its advanced full-motion, full-screen On2 Video compression and streaming technologies. On2 Video codecs are widely used in the Internet, video-on-demand, VOIP, and mobile media markets. They operate with On2's Flix and On2 TrueCast software, as well as third-party products. On2's software is used by such leading global companies as Adobe/Macromedia, AOL, Skype, XM Satellite Radio, Sony, VitalStream, and Tencent. The On2 Video decoder has an installation base of millions through its inclusion in Adobe Flash Player, Skype 2, AOL Media Player, Viewpoint, and others. Located in New York City, the company has an office in Clifton Park, NY, and operations in Cambridge, England. To contact On2, write to sales@on2.com or visit http://www.on2.com/.

First Call Analyst:
FCMN Contact: treusing@on2.com

CONTACT: Media Contact: For On2 Technologies: Kevin M. Bourke, BourkePR,
+1-781-545-7449, bourkepr@comcast.net

Web site: http://www.on2.com/
http://www.ctnet.com/