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MPEG refers to a series of multimedia standards and its accronym meand Moving Picture Experts Group.
According to (Wikipedia, retrieved 14:40, 20 March 2007 (MET)), The Moving Picture Experts Group or MPEG is a working group of ISO/IEC charged with the development of video and audio encoding standards. Its first meeting was in May of 1988 in Ottawa, Canada. As of late 2005, MPEG has grown to include approximately 350 members per meeting from various industries, universities, and research institutions. MPEG's official designation is ISO/IEC JTC1/SC29 WG11.
MPEG-4 includes several standards (called "parts").