TORONTO, Dec. 1, 2004 (PRIMEZONE) -- Velocity International Corp. "VELOCITY," "(Pink Sheets:VITJ)," or the "Company," today announced that management has formed two new divisions, Velocity Global Entertainment and Velocity Global Talent & Management. Both divisions will operate under the Velocity International Corp. -- VITJ -- banner in conjunction with the launch of VelocityModels.com and VelocityTalent.com.
VelocityModels.com and VelocityTalent.com in conjunction with Velocity Global Entertainment and Velocity Global Talent & Management will be geared toward advertising, high-concept reality TV and film projects. Velocity intends to generate revenues with digital online distributor www.Akimbo.com and with feature film distributors. AKIMBO stated, "there is online distribution access to 20 million homes today, Nielsen NetRatings . . . the number of broadband-connected homes to be 50 million in 2004." The Velocity Global Talent & Management division intends to focus on representing new talent and acquiring operating talent and models. Velocity has entered negotiations and begun the process of soliciting model and talent agencies in Russia and Eastern Europe this past quarter.
"Velocity has begun laying the steps in its platform to grow the company into a player in the talent management and technology business community along the lines as www.OneModelPlace.com and www.ModelNetwork.com. The Company intends to continue to globally pursue the opportunity that Velocity's technology services may have on the talent and modeling agency industries and the Company's acquisition and marketing strategy.
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.
About AKIMBO -- www.Akimbo.com
Akimbo licenses special-interest programs from a variety of video providers and hosts and delivers them via broadband connections to televisions for viewing when subscribers want them. The Akimbo Service presents fascinating and entertaining new programs on a regular basis, providing unlimited access to thousands of hours of programs about the subjects of interest to each Akimbo subscriber.
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.