NEWTON, Mass., Feb. 1, 2002 (PRIMEZONE) -- LifeFX, Inc. (OTCBB:LEFX), the leading developer of life-like virtual people for the Internet (the "Company"), announced that the marketing and distribution agreement between the Company and Eastman Kodak Company (NYSE:EK) has been terminated. The parties entered into the agreement in February 2001 to commercialize and distribute LifeFX's Stand-In Technology. The termination of the marketing and distribution agreement is not expected to have a material effect on the Company's results of operations.
Both Kodak and the Company stress that the termination was amicable and should not preclude the parties from pursuing other opportunities together in the future. "Although, Lifefx's primary focus is the corporate use of our products, working with Kodak was a significant milestone in the evolution of our Company," said Lucie Salhany, CEO and Co-President of LifeFX. "We value our relationship with Kodak and hope to work together again in the future."
About LifeFX
Lifef/x, Inc., a Safeguard Scientifics (NYSE:SFE) partner company, is creating the face of the Internet by developing photo-realistic, digital human faces, or LifeFX Stand-In(tm) virtual people, that can interact in real time. LifeFX Stand-In(tm) virtual people will be used by Web businesses as life-like customer-service and sales representatives, guides, teachers and entertainers, while consumer applications will include e-mail, instant messaging and chat rooms. The LifeFX technology was originally developed for professional medical applications by the University of Auckland, with which LifeFX has an exclusive, worldwide, perpetual, paid up license. LifeFX holds three patents and has five pending. For more information about LifeFX, visit http://www.lifefx.com. For application ideas and demos, visit http://www.facemail.com
Statements made in this news release, other than those concerning historical information, should be considered forward-looking and subject to various risks and uncertainties. Such forward-looking statements are made based on management's belief as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995. LifeFX Inc.'s future results may differ materially from the results anticipated in these forward-looking statements because of a variety of factors, including the ability of the company to implement its business strategy; the ability of the company to achieve the intended benefits of this strategy; the ability of the company to complete development of its technology; the ability of the company to achieve success in forging strategic relationships; adoption of the technology by major consumer and commercial Web sites; the ability of the company to commercialize the technology before competitors; the ability of the company to retain key employees; and those factors identified in Lifef/x, Inc.'s annual report on Form 10-K for the fiscal year ended December 31, 2000, and its quarterly reports on Form 10-Q and subsequent reports filed with the Securities and Exchange Commission.