page 8

600 Townsend Street
San Francisco, CA 94103

Phone: (415) 252-2000
http://www.macromedia.com/

REUTERS ABRIDGED BUSINESS SUMMARY

Macromedia, Inc. is a software company whose software enables business users, developers and designers to create and deliver experiences on the Internet, fixed media, wireless and digital devices. The Company provides three families of products to address this market opportunity: Macromedia MX Products, Information Convenience Products, and Mobile and Device Products. The Macromedia MX family of products provides client software, server and development tools for cost-effectively building Websites and Internet applications that offer highly effective end user experiences. Information Convenience Products enable non-technical business users to create and deliver information without intricate technical training. Mobile and Device Products are targeted at device manufacturers, carriers and media networks. Click here for Reuters Financials on Macromedia.

Important Headlines Since the Start of Stock Portfolio on 2/10/04

Macromedia Flex Now Available
Mon, Mar 29 - 7:30am ET - Business Wire

[external] S&P Stock Picks & Pans: S&P Says 'Accumulate' Time Warner
Fri, Mar 19 - 3:53pm ET - at BusinessWeek Online

Macromedia Dreamweaver Inducted into Jolt Product Hall of Fame
Fri, Mar 19 - 7:30am ET - Business Wire

[external] A Chip That Makes Electronics Easier To Use
Thu, Mar 18 - 3:00pm ET - at Forbes.com

New software tames Web searches, speeds publishing
Sun, Mar 14 - 7:47pm ET - Reuters

Major Performance and Stability Boosts for Macromedia Dreamweaver and Studio Released
Fri, Mar 12 - 7:30am ET - Business Wire

[external] Microsoft Wins a Round
Mon, Mar 8 - 11:24am ET - at Motley Fool

Major New Release of Macromedia Breeze Now Available
Mon, Mar 8 - 7:30am ET - Business Wire

Macromedia Declares March ''Free Web Conferencing Month''
Mon, Mar 1 - 7:39am ET - Business Wire

Coverage initiated on Macromedia by Oppenheimer
Thu, Feb 26 - 11:35am ET - Briefing.com

Macromedia Contribute Now Used by More Than 150,000 Customers
Tue, Feb 24 - 7:30am ET - Business Wire

Macromedia Flash Embedded on Samsung Set Top Boxes
Tue, Feb 17 - 7:30am ET - Business Wire

Macromedia Director MX 2004 Now Available
Thu, Feb 12 - 7:31am ET - Business Wire