LOS ANGELES, March 1, 2005 (PRIMEZONE) -- Alex Kanakaris, the Chairman Wi-Fi TV Inc. (Pink Sheets:WFTV) and a pioneer in the Internet delivery of full-length motion pictures, has accepted an appointment to the Board of Advisors of Pacificap Entertainment Holdings (OTCBB:PFEH) ("Pacificap"), a film, television and entertainment-media finance and marketing company.
"Since 1995, Mr. Kanakaris has been pioneering in the direct over-the-Internet delivery of motion pictures, and has forged global entertainment industry relationships as Chairman of Wi-Fi TV Inc.," stated Pacificap's president Edward E. Litwak. "We are honored to have Mr. Kanakaris joining the Advisory Board of Pacificap where he will consult on developing content for the next generation of movie delivery platforms and assist us with potential strategic relationships," he added.
Mr. Kanakaris will travel to London, Zurich and Geneva in March and will represent Pacificap in meetings with telecom and entertainment companies. Mr. Kanakaris will also review possibilities for synergistic relationships between Pacificap and Wi-Fi TV Inc.
Mr. Kanakaris was recently interviewed by Alan Rothman for the Business of Success radio show. He stated, "The 18 to 30 year old worldwide audience is bringing about a change in the way movies are delivered." Mr. Kanakaris said that over-the-Internet movie delivery, which Kanakaris has been a pioneer in, "will eliminate the need for Blockbuster type DVD rental stores and NetFlix type DVD mail delivery." He outlined a global vision for online movies having the same kind of impact as online music.
Mr. Kanakaris is the author of "Signs of Intelligent Life on the Internet" (available at www.amazon.com). Mr. Kanakaris delivered the first full-length movie over the Internet in 1995. He has appeared on hundreds of radio shows as well as TV shows to answer questions about the future of the Internet and entertainment.
About Pacificap Entertainment Holdings
Pacificap's activities involve the financing, production and marketing of unique films, live broadcasts, television, and other innovative media and entertainment offerings including sales, distribution, branding, and merchandising for theatrical motion picture, television, video/DVD, and other media and entertainment products and services to marketplaces world-wide.
The statements made by Pacificap Entertainment Holdings, Inc. (the Company) may be forward-looking in nature and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe the Company's future plans, projections, strategies and expectations, and are based on assumptions and involve a number of risks and uncertainties, many of which are beyond the control of Cavalcade of Sports Media, Inc. Actual results could differ materially from those projected due to changes in interest rates, market competition, changes in the local and national economies, and various other factors. The Company undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date hereof to reflect the occurrence of unanticipated events. Please refer to the Company's filings with the SEC for additional information regarding risks and uncertainties listed from time to time in such SEC reports. Copies of those filings are available through the SEC's electronic data gathering analysis and retrieval system (EDGAR) at http://www.sec.gov.