
<PAGE>

Exhibit 99.3

      Streamedia and eSynch Announce Letter of Intent for a Planned Merger

            Proposed Merger Will Allow the Combined Company to Offer
             A Full Service Streaming Media Solution Coast to Coast

NEW YORK, LOS ANGELES and TUSTIN, Calif., Jan. 24 /PRNewswire/ -- Streamedia
Communications, Inc.(TM) (Nasdaq: SMIL), NY, NY, a dynamic New York-based
streaming media services company, and eSynch Corporation (OTC Bulletin Board:
ESYN), Tustin, CA., a provider of media infrastructure delivery tools and
services for the streaming video marketplace, announced they have entered into a
letter of intent, which would bring together the two companies to form a
premiere streaming media and hosting services company.

According to terms of the letter of intent, eSynch will become a wholly owned
subsidiary of Streamedia in order to preserve eSynch's established branding
within the industry. Together, the combined companies will provide a single
source for clients seeking superior streaming media services, including:
hosting, Web design, encoding, distribution, and customized site development.

"This initiative will be extremely significant in providing the combined
companies with the necessary mechanisms to become a major streaming media
services provider," stated Henry Siegel, president and chief executive officer
of Streamedia. "eSynch brings high tech streaming capabilities, a wide range of
multi-patented and award winning software solutions, a proven management team,
and a West Coast presence necessary to service our growing interests in the
Pacific region."

"With this merger, we've positioned ourselves to secure a strong hold in the
streaming media sector," said Tom Hemingway, chairman and chief executive
officer of eSynch. "Streamedia complements eSynch's current range of services
offered, and we're confident that together we'll be able to capture a greater
share of the U.S. market for stream media services."

With more than 35 million Internet users accessing streaming media content in
the U.S. alone, eSynch is responding to client's needs to capitalize on
streaming media technology to deliver their message. With the opening of its new
data center the combined company will have data centers on both coasts, which
will allow it to customize a streaming services plan tailored to client's needs.

ABOUT STREAMEDIA
Streamedia Communications, Inc.(TM) (Nasdaq: SMIL, SMILW; BSE: STA, STAW),
located at www.streamedia.net, is a dynamic broadband services company that
redefines how businesses communicate utilizing the power of the Internet and
streaming media. As part of its overall streaming solution, Streamedia
conceptualizes and designs its clients'

<PAGE>

IT infrastructure to optimize their streaming strategy as well as provide web
design, application development, third-party technology integration, encoding
and hosting services.

The company has been referenced by U.S. Bancorp Piper Jaffray, whose analysts
concluded that "streaming media is the next macro growth driver on the Internet
 ... the Internet of tomorrow (two to five years) will resemble television of
today in terms of audio and video quality, while enabling users to control the
media viewing experience." The research report is located at:
http://www.gotoanalysts.com/piperpublic/goto/feature_streamingmedia.asp.

ABOUT eSYNCH
eSynch Corporation (OTC Bulletin Board: ESYN), founded in 1994, is a leading
provider of intelligent digital media solutions and services, including video
delivery tools, streaming media services (www.choicecinema.com). eSynch's
flagship products include SiteStreamer (www.sitestreamer.com), a broadband media
player that allows Web sites to stream video in a more intelligent, fully
branded environment; and ChoiceCaster (www.choicecaster.com), the first
all-in-one media player designed specifically for the broadband Internet user,
featuring dynamically updated content channels, an advanced media-only search
engine, and a personalized video and audio library. For more information about
eSynch, headquartered at 15502 Mosher Avenue, Tustin, Calif. 92780, call
714-258-1900, fax 714-258-7177, or visit www.esynch.com.

Safe Harbor Statement
Statements herein express management's beliefs and expectations regarding future
performance and are forward-looking and involve risks and uncertainties,
including, but not limited to, the ability to negotiate outstanding prior debts
of acquired companies; properly identify acquisition partners; adequately
perform due diligence; manage and integrate acquired businesses; react to
quarterly fluctuations in results; raise working capital and secure other
financing; respond to competition and rapidly changing technology; deal with
market and stock price fluctuations; and other risks.

These risks are and will be detailed, from time to time, in eSynch's and/or
Streamedia's Securities and Exchange Commission filings, including Form 10-KSB
for the year ended Dec. 31, 1999 and subsequent Forms 10-QSB, 10-KSB, and 8-K.
Actual results may differ materially from management's expectations.

By making these forward-looking statements, the Companies undertake no
obligation to update these statements for revisions or changes after the date of
this release. /CONTACT: Cynthia DeMonte of DeMonte Associates, 212-473-3700,
cdemonte@demonte.com, for Streamedia Communications, Inc.; or Leslie Drechsler,
Marketing Communications of eSynch Corporation, 714-258-1900 ext. 356,
ldrechsler@esynch.com/

