Exhibit 99.2


CONTACT:

      Jonathan Morgan
      CEO, First Virtual Communications, Inc.
      (650) 801-6500

      Samuel L. Schwerin
      Millennium Technology Value Partners, L.P.
      (646) 521-7800

              FIRST VIRTUAL COMMUNICATIONS, INC. ANNOUNCES INTERIM
              APPROVAL OF $2 MILLION DIP FINANCING CREDIT FACILITY
                   LED BY MILLENNIUM TECHNOLOGY VALUE PARTNERS

       BANKRUPTCY COURT APPROVES INITIAL RELIEF REQUESTED BY FIRST VIRTUAL
   COMMUNICATIONS, INC. TO STABILIZE BUSINESS DURING CHAPTER 11 REORGANIZATION

        FIRST VIRTUAL COMMUNICATIONS, INC. AUTHORIZED TO COMMENCE BIDDING
    PROCESS FOR RESTRUCTURING TRANSACTION SUBJECT TO AGREEMENT WITH CREDITORS

REDWOOD CITY, CALIFORNIA, JANUARY 28, 2005 - In connection with its chapter 11
reorganization, filed on January 20, 2005, First Virtual Communications, Inc.
(Pink Sheets: FVCC) announced that it obtained interim approval from the
Bankruptcy Court of a $2 million DIP financing credit facility from an
investment partnership led by Millennium Technology Value Partners, L.P., a New
York-based private equity fund. The company expects to utilize the funds to
stabilize its operations, renew its commitment to customers, vendors and
employees and to enhance its ability to restructure its financial affairs by
allowing for a robust competition for interested parties to submit proposals to
restructure the company. The company expects to obtain final approval of this
financing at a hearing scheduled for February 14, 2005.

"We are extremely pleased to announce this financing which will allow us to
stabilize our business and to continue to provide great service to our clients.
The financing gives our existing and future customers and partners confidence
that we will continue to provide an extremely high level of service," said
Jonathan Morgan, First Virtual's CEO. "Our unique award winning software
solution provides a complete framework for delivering a new generation of
integrated video+voice+data applications that address the real-time
communications needs of companies worldwide."

"First Virtual's software for real time collaborative meeting applications and
conferencing solutions is a leading product suite used every day by some of the
world's most important and demanding customers," said Samuel L. Schwerin,
Managing Partner of Millennium Technology Value Partners, L.P. "We are pleased
to have the opportunity to provide financial and operating resources to help the
company through this transition so that First Virtual can continue to deliver
robust solutions and support to its valued customers."

The company also announced that the Bankruptcy Court approved substantially all
of the initial relief that the company requested, at a hearing held on January
26, 2005 in the United States Bankruptcy Court for the Northern District of
California. Among other relief, the Bankruptcy Court approved the company's
request to honor certain employee obligations and benefits, to approve the
company's agreement with its existing bank lender regarding continued access to
working capital, to establish procedures to ensure uninterrupted utility
services to the company as well as joint administration of its case and that of
its wholly-owned subsidiary, CUseeMe Networks, Inc., for procedural purposes
only.

Finally, the company announced that the Bankruptcy Court also approved, on an
interim basis, preliminary procedures for interested parties to submit proposals
in connection with its restructuring efforts. As previously announced, the
company already has one proposal for the sale of substantially all of its assets
on hand, subject to due diligence and Bankruptcy Court approval. The company
expects to work with its existing stalking horse bidder as well as the
newly-appointed Official Committee of Unsecured Creditors to finalize these
procedures and fix a timeline for the submission of restructuring proposals. At
this time, the company cannot predict what values will be ascribed in the cases
to claims against or interests in the company as there are a variety of factors
that may impact such values, including, but no limited to, the terms of
restructuring proposals that the company receives and the terms of any
reorganization planned that may ultimately be confirmed. Accordingly, the
company urges that the appropriate caution be exercised with respect to existing
and future investments in any of its liabilities and/or securities.

"We are extremely pleased at the successful launch of our chapter 11
reorganization. We cannot thank the creditors' committee enough for their
cooperation in this process and recognizing the inherent value in the company's
business," Morgan added. "We are extremely proud and mindful of the
extraordinary efforts of all our employees who worked with our customers and
prospects over this last year and delivered on the promise of Click to Meet
Versions 4.0 and 4.1. In the face of a difficult and trying year, they delivered
a world class product and set the standard by which other software solutions are
judged."

About First Virtual Communications, Inc.

First Virtual Communications creates leading software products that enable
interactive voice, video and data collaboration over IP-based networks. Through
its products, FVCC provides cost-effective, integrated end-to-end solutions for
large-scale deployments to enterprise desktops. It also enables best-of-breed
conferencing solutions to be extended through ISDN and ATM networks.

The company's flagship product, Click to Meet(TM), provides a complete framework
for delivering a new generation of video-enabled web collaboration applications.
Click to Meet(TM) can be integrated seamlessly into popular enterprise messaging
and collaboration environments such as Microsoft Exchange/Outlook and instant
messaging. First Virtual serves its customers through a worldwide network of
resellers and partners. More information about First Virtual Communications can
be found at www.fvc.com.

About Millennium Technology Value Partners, L.P.


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Millennium Technology Value Partners is a New York-based private equity fund
focused on a value-centric approach to venture capital and technology investing.
The fund is part of a greater family of funds including PS Capital Holdings, PS
Capital Ventures, and Millennium Technology Ventures. Millennium Technology
Value Partners is a leader in providing liquidity to holders of venture capital
and private equity investments. Transactions range from direct and limited
partnership investments in the secondary market to corporate spin-offs of
non-core assets and value-oriented public market investments. For more
information, please visit www.mtvlp.com.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION AND OTHER MATTERS

Statements made in this release which address activities, events or developments
that we expect or anticipate may occur in the future are forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of
1995 that reflect the company's current views with respect to current and future
events and financial performance. Such forward-looking statements are and will
be, as the case may be, subject to many risks, uncertainties and factors
relating to the company's operations and business environment which may cause
the actual results of the company to be materially different from any future
results, express or implied, by such forward-looking statements. Factors that
could cause actual results to differ materially from these forward-looking
statements include, but are not limited to, the following: the ability of the
company to continue as a going concern; the ability of the company to access
working capital, including, but not limited to, the use of cash collateral or
debtor-in-possession financing; the company's ability to obtain Bankruptcy Court
approval with respect to motions in the Chapter 11 proceeding prosecuted by it
from time to time; the ability of the company to develop, prosecute, confirm and
consummate one or more transactions for the sale of the company's assets or
other change of control transactions under a plan or plans of reorganization
with respect to the Chapter 11 cases; risks associated with third parties
seeking and obtaining the Bankruptcy Court's approval to terminate or shorten
the exclusivity period for the company to propose and confirm one or more plans
of reorganization, for the appointment of a Chapter 11 trustee or to convert the
cases to Chapter 7 cases; the ability of the company to obtain and maintain
normal terms and relationships with vendors, service providers and employees;
the company's ability to maintain contracts that are critical to its operations;
any adverse impact on us from the special investigation and restatement of
previously announced financial results; any adverse impact arising from the
delay in filing required periodic reports; the company's potential inability to
maintain business relationships with the company's integrators, distributors and
suppliers; and other risk factors set forth in the company Annual Report on Form
10-K for the year ended December 31, 2003 and in the company's other public
filings with the SEC, or in other filings made, from time to time, by the
company with the Securities and Exchange Commission. The forward-looking
statements speak only as of the date when made and the company does not
undertake to update such statements.


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