SEATTLE, Nov. 10, 2004 (PRIMEZONE) -- NetMusic Entertainment Corporation (Pink Sheets:NTMT) today announced that it has signed a deal with NewGenPay (www.newgenpay.com), in which NewGenPay will provide state of the art payment processing at a very lucrative rate and with sophisticated additional functionality to NetMusic (http://www.netmusic.com).
"NewGenPay will take care of NetMusic's payment processing, multiple payment methods and online customer care in one cohesive package, lowering our per-transaction cost significantly and allowing us to focus aggressively on reducing our operational overhead," says Glen Starchman, NetMusic Entertainment's CEO.
Jakob Schwerdt of NewGenPay, adds, "We are excited to work with NetMusic. Our payment platform was designed specifically to accommodate customers like NetMusic and we are confident that we can add substantial value to their business."
NetMusic is anticipating a full integration with the NewGenPay system in January of 2005.
About NetMusic Entertainment Corporation:
NetMusic's flagship website (http://www.netmusic.com) first went into operation in 1995 as a directory of music-related information. In 2004 the company launched an enhanced version of the site focused on digital distribution of music. Later in 2004, the company entered the digital jukebox marketplace via a merger with Ultimate Jukebox, Inc. NetMusic Entertainment is fast building the largest catalog of licensed digital music in the world.
Further information on NetMusic Entertainment Corporation is available from http://www.netmusic.com/corp
About NewGenPay:
NewGenPay acquired in 2002 AllCharge (www.allcharge.com), a premier processing platform, which is one of the most advanced and cost effective payment solutions in the market today, designed specifically for digital downloads and micro payments. Through many years of high volume processing for digital content, we have not only significantly expanded the technology and enhanced its functionality but also refined the process to deliver a highly secure and cost effective solution.
This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. Although NetMusic Entertainment Corporation believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any assumption could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion should not be regarded as a representation by NetMusic Entertainment Corporation or any other person that the objective and plans of NetMusic Entertainment Corporation will be achieved.