Long-time Leader Steve Davis to Transition to Senior Advisor Role to Make Time to Pursue New Challenges

SEATTLE (April 10, 2007) - Corbis today announced that effective July 1, 2007, Gary Shenk, President of Corbis, will assume the role of Chief Executive Officer. After 14 years with the company, 10 as CEO, Steve Davis will transition out of a day-to-day role to pursue new leadership opportunities in the public service and philanthropic world. The company announced a carefully planned transition process, endorsed by Corbis’ Chairman Bill Gates, to ensure that there is a smooth and orderly transfer of Davis’ daily responsibilities, and the company said that Davis will continue to serve as a senior advisor beyond June 2007.

“I want to thank Steve for his tremendous contributions to Corbis,” said Bill Gates, Chairman, Corbis. “Corbis was created as much by Steve as by me, since he and I first collaborated when the company was in its infancy. Steve’s vision, entrepreneurial skills, industry leadership and global management capabilities have transformed it from one of the earliest internet startups, to a global brand with industry-leading growth and services. Today, Corbis has become the definitive creative resources company helping creative professionals in advertising, marketing and media to succeed in bringing their work to life.”

“Gary is a natural leader and an ideal person to assume the role of CEO,” said Gates. “He has the energy, focus, discipline and proven track record to maximize Corbis’ assets by further improving business operations and fostering innovation to best serve customers.”

Today's announcement continues a leadership succession process that has been underway for more than a year. As part of the plan to ensure strategy and knowledge transfer, Shenk was promoted to President of Corbis in November, 2006, assuming oversight of marketing, sales and the creative services businesses including rights and music clearances, rights representation, artist representation and media management. As Corbis proceeds with the smooth transition plan, all Corbis officers will report to Gary in his role as president, effective today.

“The opportunity before us has never been greater,” said Gary Shenk, President, Corbis. “We have strategically invested in acquiring and creating the best pictures, built the most comprehensive rights services offering and expanded our presence and brand globally. We are well positioned to be the creative partner of choice to our customers around the world and to take Corbis to the next level.”

Shenk is widely recognized for emphasizing a customer-focused approach to Corbis’ business. Since joining Corbis in 2003, Shenk has been instrumental in repositioning Corbis’ image licensing business to achieve rapid growth and attain quality leadership in the creative photography market, while expanding a strong editorial and entertainment offering. He has also been the driving force behind Corbis’ industry-leading rights services offerings.

“This was a hard decision for me," said Steve Davis, CEO, Corbis. "I'm very lucky to have many different interests and passions that I feel are important and challenging, and now is the time for me to explore those other interests. As I prepare for this change, I firmly believe the road ahead for Corbis is brighter than ever."

With Davis’ long history of community volunteerism, playing significant leadership roles in organizations such as the PATH, United Way, NPower, Technology Alliance, Fred Hutchinson, Lambda Legal Defense, Seattle Foundation and many others, he looks forward to dedicating more professional energy in this sector.

Prior to joining Corbis, Shenk was a founder and general manager of FlixMix, a wholly-owned subsidiary of Universal Studios that was one of Hollywood’s leading media licensing agencies. Shenk’s entrepreneurial talents served him well in Hollywood, where he was instrumental in establishing new licensing formats and brokering deals between studios and talent agencies. Shenk began his relationship with Universal while he was a leader in the media and entertainment practice of The Boston Consulting Group (BCG). Among his other accomplishments, Shenk holds an M.B.A in Finance from The Wharton School of the University of Pennsylvania, and a B.A in Social Studies from Harvard College. Shenk, 36, is married with three children.

Corbis, founded by Bill Gates in 1989, provides the industry's richest array of creative resources for advertising and media professionals including creative, editorial and entertainment image and footage licensing, rights and music clearances, rights representation, artist representation and a hosted media management solution. The company, with more than 1100 employees in 24 cities in 16 countries around the world, reported more than $251 million in revenue in 2006, an 11 percent increase from the previous year.

About Corbis
Corbis is a creative resource for advertising, marketing and media professionals worldwide, helping to bring creative work to life with the highest quality photography, footage and rights services. Corbis offers a preeminent collection of more than 100 million creative, entertainment and historic images, a comprehensive footage library, the world’s deepest rights and clearances expertise, a roster of elite assignment photographers and an award-winning media management solution. Headquartered in Seattle, Corbis serves more than 50 countries worldwide. For more information, visit www.corbis.com.