TORONTO, Feb. 3, 2005 (PRIMEZONE) -- Velocity International Corp. (Pink Sheets:VITJ) "VELOCITY," "(VITJ)," or the "Company," today announced that its Velocity Global Entertainment and Velocity Global Talent divisions are entering the distribution industry with Exclusive Video Content to Third-Generation (3G) Mobile Phones. Both divisions operate under the Velocity International Corp. -- VITJ -- banner in conjunction with the launch of VelocityModels.com and VelocityTalent.com. VITJ believes that it will be distributing new faces, products and services in the first and second quarter of 2005 through these divisions.
Velocity Global Entertainment and Velocity Global Talent are divisions of VITJ focused on the aggregation and wholesale exploitation of digital rights, are exploring the signing of a non-exclusive agreement to distribute exclusive content through companies like Foreal, Inc. via video ringtones to third-generation (3G) mobile phones, initially throughout Japan and Southeast Asia. Companies like Foreal have the ability to service VITJ's exclusive programming with turnkey sales, marketing and distribution services to official mobile phone content providers, via branded premium prepaid cards ("Chaku Purika") and by direct-to-consumer downloads on the Foreal website, www.forealtones.com.
According to Mobile Media Japan, the conversion to 3G mobile phones capable of utilizing video ringtones is well under way. As of January 2005, approximately 25 million of the 84 million registered mobile phones were 3G. The majority of the mobile phone subscriber base in Japan is expected to convert to 3G technology by the end of 2005. In the event that Velocity utilizes Foreal, it will be well positioned to take advantage of this growth as the demand for video content via ringtones increases.
VITJ's exclusive video content may be featured within Foreal's promotional and marketing efforts, initially with the "Chaku Purika" program, which loosely translates as "Delivered Prepaid Card" and facilitates consumer downloading of video ringtones through the Internet. This type of premium program is estimated to reach more than 12 million consumers through 20,000 retail outlets by the end of 2005. These premium cards will be co-branded with corporate sponsors and used as a consumer marketing tool promoting products or services.
The opportunities in Japan and Southeast Asia are exciting for VITJ. The explosive growth of 3G phones and the strong demand for video ringtone content in Japan present a great opportunity. As 3G mobile phones become the standard in other parts of Southeast Asia, VITJ will expand the distribution of exclusive video content accordingly. Meanwhile, VITJ will aggressively pursue content appropriate for these territories and channels of distribution. Additionally, VITJ is exploring similar opportunities in North America and Europe as 3G mobile phone technology and consumer support gain similar footholds.
About Foreal -- www.forealtones.com
Foreal, Inc. is a provider and aggregator of master content for RealTONES and VideoTONES, the mobile communication industry's newest and fastest growing service in ring (back) tones utilizing the original performances by artists. Utilizing its expertise, Foreal has implemented a robust sales and marketing program by which to distribute content to virtually all official content providers and to the largest mobile carriers in Japan and Asia. Foreal also boasts a unique promotional program that will direct a high volume of mobile traffic to its various content sites. Coupled with this unique premium opportunity, Foreal is encouraged by the positive, high level response as well as the potential for growth in this burgeoning industry.
About Velocity International Corp. -- www.VelocityIntCorp.com
Velocity International Corp. ("VELOCITY," "VITJ," or the "Company") is a publicly traded development stage company created to acquire operating talent and modeling agencies along with acquiring existing technology service companies supporting the professional and amateur talent and modeling agencies, professional and amateur athletes, designers, creative professionals and support entertainment industry professionals. Ultimately, the company intends to provide one-stop solutions and services that address the needs of the fashion and entertainment production client throughout the world.
Safe Harbor Statement: This information includes certain "forward-looking statements." The forward-looking statements reflect the beliefs, expectations, objectives, and goals of Velocity International Corp. management with respect to future events and financial performance. They are based on assumptions and estimates, which are believed reasonable at the time such statements are made. However, actual results could differ materially from anticipated results. Important factors that may impact actual results include, but are not limited to commodity prices, political developments, legal decisions, market and economic conditions, industry competition, the weather, changes in financial markets and changing legislation and regulations. Matters discussed in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in any reports filed by the Company. Forward-looking statements are intended to qualify for the safe harbor provisions of Section 21E of the Securities and Exchange Act of 1934, as amended.