RICHARDSON, Tex., May 17 /PRNewswire/ -- Piranha, Inc.
(OTC Bulletin Board: BYTE), an innovator in data compression technology and
digital workflow solutions, today announced the appointment of Larry E.
Greybill as Chief Executive Officer. Greybill also has been appointed to the
Piranha, Inc. Board of Directors.
    Edward W. Sample will remain as Chairman of the Board of Piranha, and will
assume the position as chairman of the board of Zideo, and its Chief Executive
Officer upon the spin off from Piranha as described in the press release of
April 9, 2001.
    The Company also announced that Richard S. Berger has stepped down as
Chief Financial Officer, but will continue as a member of the Board of
Directors. He will serve in a consulting role for mergers, acquisitions and
funding activities. Michael Steele, Chief Information Officer and a former
Ernst & Young employee, will serve as interim CFO.  Mr. Greybill has begun a
search for a new CFO who will be located at Piranha's new headquarters in
Freehold, New Jersey.  Zideo's offices will remain in Richardson, Texas.
    As part of the reorganization, two members of the Board of Directors,
Barger Tygart and Joseph Sherrill, resigned. Mr. Tygart noted that he was
reducing his Board activities because of his heavy workload on a few remaining
boards. Mr. Sherrill noted that his other business interests and travel
schedule would interfere with increased time commitments to the Piranha board.

    Piranha also announced some key strategic shifts:
    "First and foremost, Piranha is going to concentrate on its core business
which is to develop and sell industrial strength technical solutions that
feature it's unique compression," said Greybill.
    "Secondly, our sales effort will focus on large, corporate entities that
require not only software but engineered solutions. We have had significant
success in Europe in dealing with strategic partners and value added resellers
through our dealership network. We intend to establish those relationships in
the U.S. in order to sell and distribute our packaged products more rapidly.
    "Thirdly, because of a shortfall in sales against projections and a less
than robust business climate that has led to less than anticipated product
demand and a cash shortfall, we have reduced and refocused our sales and
development staff, cutting operating costs significantly.  Moreover, the
Company is attempting to raise some additional operating capital due to the
loss of cash from operations.
    "Fourthly, we will expand our advisory board, inviting several key leaders
in the business and financial worlds to participate, providing Piranha with
even more experience and expertise."
    Finally, Piranha announced that R. Don Ashley, previously Piranha's
President and Chief Operating Officer, has retired.

    Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995:  Included in this press release are certain "forward looking"
statements within the meaning of the Securities Act of 1933, as amended.
Although the Company believes that the expectations reflected in such forward
looking statements are reasonable, actual results may differ materially from
those anticipated in the forward looking statements as a result of certain
factors including sales levels, retention, competition trends, and other
market factors.  This announcement does not constitute an offer of any
securities for sale or a solicitation of an offer to buy any securities.

    CONTACT:  Edward W. Sample, Chairman of the Board, 972-739-0373, or
edsample@piranha.com , or Larry Greybill, CEO, 732-409-5190, or
larry.greybill@piranha.com , both of Piranha, Inc.

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