SANTA FE SPRINGS, Calif., April 27, 2004 (PRIMEZONE) -- CADItec International, Inc., (Pink Sheets:CDCI) Chairman and Chief Executive Officer, David Michery provides the following statement to shareholders and the investment community:
"Since our acquisition by CADItec International, Inc., AMC American Music Corporation's management has been working to enhance its competitive position in the music industry and to transform AMC American Music Corporation into a strong publicly traded company. I believe that management has now put AMC American Music Corporation in a solid position to successfully reach its goals.
"We have been focusing on implementing AMC's growth strategy by negotiating deals with established artists, producers and entrepreneurs and are now in a position to close these contracts and begin distributing new albums and products. These deals have the potential to bring AMC to the forefront of the music industry and to the attention of millions of music consumers. AMC will use the experience and talent of selected artists, producers, and entrepreneurs with a track record of successful sales to develop new hit records and secure a superstar roster.
"By entering into joint ventures with successful artists, producers and entrepreneurs AMC should realize predictable projected unit sales. This strategy will reduce the risks associated with marketing and promoting new albums and tends to increase sales. The buyers for music retailers tend to purchase more initial units from well-known and successful artists and producers because these artists and producers have an existing consumer base.
"Additionally we plan to enter into exciting agreements with select entertainment and media companies to expand our product releases and take advantage of cross marketing opportunities. AMC has been in discussions with several motion picture companies to secure rights to soundtracks coinciding with upcoming movie releases. We have also been exploring an opportunity to enter into an agreement with a television media company gaining exclusive rights to distribute its products to retail.
"For over a year, AMC has been planning the launch of our independent distribution company, American Southwest, which plans to begin selling records this summer. This very important profit unit will allow us to distribute records for independent labels that do not have historical sales large enough to secure agreements with major distributors. Many of these labels experience consistent sales and succeed in producing hit records. With the assistance of a veteran record company executive, we project the gross sales for American Southwest to add $30,000,000 to AMC revenues during the first full year of operations.
"I am very excited about what the future has in store for AMC American Music Company. We look forward to communicating with our shareholders as we embark upon building an exciting entertainment company."
For more information please visit www.amcamericanmusiccorp.com.
Safe Harbor
The Private Securities Litigation Reform Act of 1995 may provide a "safe harbor" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of the Company. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, and domestic and global economic conditions.