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International Alliance - USA and Italy

New York, NY - February 2004 - Index Stock Imagery is proud to announce an agreement to name Grazia Neri as its exclusive distributor in Italy. Grazia Neri already markets one of the most important collections of stock images available in Italy, and will now add thousands of Index's images to its file.

Grazia Neri was founded in 1966 and soon became an obligatory point of reference for all Italian magazines and newspapers. The company is involved in assignment photography and book production. Grazia Neri is constantly in touch with all of the Italian magazines and newspapers. Its newest department is devoted to stock sales for commercial advertising and annual reports. “The opening of our own gallery in Milan and the organization of many photography exhibitions in Milan, Rome, Bologna and Verona have added a very important cultural component to the whole operation,” the company states.

Grazia Neri is president of the company that bears her name, and her son Michele Neri is the Executive Director. Grazia Neri's website, www.grazianeri.com, includes a section fully dedicated to stock- Gnstock. The Gnstock area is searchable for low-res images, with high-resolution images provided on request.

After a November visit to the Grazia Neri office in Milan, Peter McClusky, VP of International Business Development said: “I am very encouraged by the energy and enthusiasm of the Grazia Neri staff, and I have high expectations for our mutual success. They believe the Index Stock collection will quickly become a significant component of their business.”

Index Stock, www.indexstock.com , because of the size and breadth of its library, continues to be a major international player in the stock photo industry with agents in fifty countries. In addition to Avenue Images, in the past year it has replaced agents in Italy, Portugal, England, Mexico and Chile. It represents dozens of domestic collections and has 650,000 images available online, of which 75,000 are Royalty Free images. Its Web site, www.indexstock.com, supports emailable lightboxes, e-commerce shopping, and customized price grids and high-res comps, for qualified customers. Mac users can enjoy a Mac interface and all of Index's loyal customers receive gifts through the Image Points Rewards Program that is featured on the Index site.

Index Stock Imagery, Inc. is a registered trademark.

Contact:

Pat Hunt

800-729-7466

212-929-4644