NOVI, Mich., May 12, 2006 (PRIMEZONE) -- Eternal Image, Inc. (Pink Sheets:ETIM), a public company engaged in the design, manufacturing, and marketing of customized designer caskets and urns, today announced the success of strategic meetings in reference to the licensing agreements the company has with its unique products.
In early April, Eternal Image announced a licensing agreement with Precious Moments, one of the most recognized licensing properties in the United States. Dominating the $21B gift and collectibles market, Precious Moments has been the top selling brand in the category for the past 15 years. Eternal Image is pleased to have completed the concept, art, and design of the Precious Moments caskets and urns, and is currently working diligently to bring products reflecting the enduring and inspirational images of this American favorite to production.
Moving forward, the company expects to extend agreements with Major League Baseball, the American Kennel Club, and the Vatican in the near future. According to the Licensing Industry Merchandisers' Association, sports licensing is now over a $13B annual industry, and one of the fastest growing segments in the licensing business. Additionally, the American Pet Products Manufacturers Association cites a $36B market for pet expenditures in the United States alone, with over 43 million households owning as least one dog. Further, the exclusive agreement with the Vatican affords Eternal Image an opportunity to reach a global audience of over 1 billion Catholics.
The latest data available from the Cremation Association of North America (CANA) projects that as the American population grows, natural deaths will increase nearly 50% within the next twenty years. This will create over $100 billion in aggregate sales for the funeral products industry, in which Eternal Image will be well positioned. Management believes the licensing relationships established today will build the foundation for Eternal Image to be a mature and respected company in an annual market providing consistent and reliable growth.
For more information please visit http://www.eternalimage.net.
"Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995
Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," forecasts," potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.