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LONDON, August 6 /PRNewswire-FirstCall/ -- Gizmondo Europe Ltd,
subsidiary of Jacksonville, Florida-based, Tiger Telematics Inc (OTC:
TGTL.PK), announced today the signing of two Letters of Intent covering
sales, account management and distribution of the Gizmondo device in USA,
Canada and Mexico. The two sales agencies are Redline Marketing, based in
Minnesota, and Tartan Sales in Texas. The two groups will co-ordinate and
apportion the agreements on a geographic and account basis.
"Our intention is to launch Gizmondo in the US in early 2005 and the
timing of these agreements provides us with a valuable, six-month window of
opportunity for pre-sale activities," says Carl Freer, Managing Director,
Gizmondo Europe Ltd. "It also enables us to be the first RISC device to
display true 3D gaming and media, ultimately providing Gizmondo users with
that 5-star gaming experience. The US introduction of the device will follow
soon after the launch in the UK and Europe"
"Both Redline Marketing and Tartan Sales have vast experience in sales
and account management of leading-edge consumer electronic products in the
USA retail market. Jointly they have represented many large consumer
electronics manufacturers," says Carl Freer. "An announcement about American
distribution was expected, of course. That said, it is very exciting that
we're teaming up with the sales groups that have helped major players in the
games industry reach millions of people through their network of retail
partners."
Todd Harris, President of Tartan Sales, said: "We believe the fantastic
quality of the Gizmondo will complement our existing product lines. We
believe that the versatility of the device and the depth of our sales
relationships, will help us to achieve our first year sales target goal, as
stated in the agreement, of 400,000 plus units across the US."
Dave Arundel, President of Redline Marketing, stated: "We are ecstatic
about the opportunity to market and distribute this multi-entertainer product
in our focused area of northern USA and Canada. We believe that the unit
sales targeted in our agreement of 400,000 units in North America is
achievable in the first year of marketing the new product. We can't wait."
The Gizmondo device was enthusiastically received at the recent E3-Expo
in Los Angeles. It is powered by Microsoft Windows CE.net platform, boasts a
2.8-inch TFT colour screen with a Samsung ARM900 400MHz processor and
incorporates 64-bit graphics accelerator. It provides cutting-edge gaming,
multimedia messaging, a MP3 music player, Mpeg4 movie playing capability, a
digital camera, and a GRPS network link to allow wide-area network gaming. It
also contains a GPS chip for location based services and it is equipped with
Bluetooth for use in multi-player gaming.
Mike Carrender, CEO of Tiger Telematics, Inc. indicated that interest in
the forthcoming multi-entertainment device was further underlined in the
cover story of the June 21 edition of BusinessWeek, featuring convergence
technologies and the principle movers and shakers in this innovative market.
According to BusinessWeek, convergence is likely to produce the biggest
explosion of innovation since the dawn of the Internet and is also a fertile
environment for start-ups with a competitive edge. Tiger Telematics' CEO,
Mike Carrender is mentioned and pictured with the caption, Tiger Telematics
"can compete with the Sonys of the world".
About Tiger Telematics and Gizmondo
Gizmondo Europe Ltd. is an owned subsidiary of Tiger Telematics Inc (OTC:
TGTL.PK) and is the maker of Gizmondo, a next-generation mobile entertainment
device. Set to launch in 2004, the gaming device includes built-in music,
video, messaging and picture functions and GPS.
http://www.gizmondo.com
http://www.tigertelematics.com
Tiger is a designer, developer and marketer of mobile telematics systems
and services that combine global GPS functions and voice recognition
technology to locate and track vehicles and people down to street level in
countries throughout the world. The systems are designed to operate on GPS
and are currently being marketed to GSM current and potential subscribers,
primarily by the company's United Kingdom based subsidiaries.
About Redline Marketing and Tartan Sales
Redline Marketing and Tartan Sales are privately held sales and marketing
companies that have vast experience in sales and account management of
leading-edge consumer electronic products in the USA retail market. Jointly
they have represented many large consumer electronics manufacturers. Redline
Marketing employs 14 people including 4 sales reps. They previously were
involved in the launch of Sony PlayStation in the USA, as well as the sales
of Acclaim, Midway, Namco, Capcom and other important video game publishers.
Their current retail base includes Best Buy, Bestbuy.com, Best Buy Canada,
Future Shop Canada, Target, Target.com, Musicland group, Circuit City and
other for various electronic products. Tartan Sales employs 13 people,
including 7 sales reps and has previously represented Atari and Nintendo game
consoles. They have represented and launched Atari & Nintendo hardware
systems as well as Sony, Activision, Midway, Ubisoft software. Their current
client base for other electronic products includes AAFES, About Time,
Blockbuster Video, CompUSA, Gamestop, Hasting's, JC Penney, Radio Shack,
Video By Cycling, and other retailers.
Except for historical matters contained herein, the matters discussed in
this press release are forward-looking and are made pursuant to the safe
harbour provisions of the Private Securities Litigation Reform Act of 1995.
Investors are cautioned that these forward-looking statements reflect
numerous assumptions and involve risks and uncertainties that may affect
Tiger Telematics, Inc. and its subsidiary businesses and prospects and cause
actual results to differ materially from these forward-looking statements.
Among the factors that could cause actual results to differ are Tiger
Telematics Inc.'s operating history; competition; low barriers to entry;
reliance on strategic relationships; rapid technological changes; inability
to complete transactions on favourable terms; and those risks discussed in
the Company's filings with the SEC.j