Group Led by Former Chairman and CEO Kaleil Isaza Tuzman Extends Revised Acquisition Offer to KIT Digital Board of Directors

Group Led by Former Chairman and CEO Kaleil Isaza Tuzman Extends Revised Acquisition Offer to KIT Digital Board of Directors PR Newswire NEW YORK, Dec. 5, 2012 - Urges Transparent Auction Process; Requests Response by Wednesday, December 12, 2012 NEW YORK, Dec. 5, 2012 /PRNewswire/ -- Attention: Bill Russell, Chairman Dear KIT digital Board of Directors, On November 23, 2012, we sent you a detailed letter describing our disappointment in the performance of KIT digital Inc.'s ("KITD" or the "Company") current management team in both administering the business and capitalizing on strategic opportunities that could have generated significant value for the Company's shareholders (the "Initial Letter"). In our Initial Letter, we also outlined our own turnaround plan for KITD and urged you to immediately engage with us regarding a provisional offer to acquire the Company. Since sending the Initial Letter additional information has come to our attention that paints an even more troubling state of affairs within the Company than we originally believed. We believe management is confused at the current crossroads and that the Company is severely limited in its options—a situation that will likely deteriorate with time.