LOS ANGELES, Aug. 18, 2003 (PRIMEZONE) -- United Internet Technologies, Inc. (UIT) a division of United Leisure Corp. (Other OTC:UTDL) today announced that it has terminated an agreement whereby Marx Toys and Entertainment, Inc. (OTCBB:MRXT) was to market certain interactive toys using UIT's patented technologies. Marx was notified verbally and in writing that the agreement was terminated as of July 31, 2003. Despite this clear notification, Marx management has continued to release information to the press and others regarding their rights to market "IM Buddies".
Marx, as recently as yesterday, began "selling" IM Buddies on their website claiming that they are "in stock". Legal action has commenced to prevent continued false claims and practices on the part of Marx management.
About United Leisure Corp.
United Leisure Corporation, through its subsidiary United Internet Technologies, develops technologies that allow a variety of electronic devices and consumer electronics to communicate and be controlled over the Internet and over other digital systems. The Company's technologies include intelligent control interactive technology and digitally integrated video overlay. Visit them on the web at http://www.uitlive.com.
This news release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the company's business strategy and future plans of operations. Forward-looking statements involve known and unknown risks and uncertainties, both general and specific to the matters discussed in this news release. These and other important factors, including those mentioned in various Securities and Exchange Commission filings made periodically by the company, may cause the company's actual results and performance to differ materially from the future results and performance expressed in or implied by such forward-looking statements. The forward-looking statements contained in this news release speak only as of the date hereof and the company expressly disclaims any obligation to provide public updates, revisions or amendments to any forward-looking statements made herein to reflect changes in the company's expectations or future events.
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