Diamond Entertainment Announced Today Its Successful Product Test Of The
''Zoombie''
Business Editors
CERRITOS, Calif.--(BUSINESS WIRE)--Jan. 3, 2000--Diamond
Entertainment Corporation, dba e-DMEC, (OTC BB:DMEC) Monday announced
that it has successfully completed its initial test program for its
Jr. Size Zoombie with a leading mass merchandiser.
The Zoombie is the exclusive patented dual oval-shaped winged
flying toy of Jewel Products, a 100% owned subsidiary of Diamond
Entertainment. Shipments are scheduled to the mass merchandiser
starting in January 2000.
"We are encouraged by the successful completion of the Jr. Size
Zoombie test program and we look for increased acceptance and demand
for the Zoombie during the year 2000," commented James Lu, President
of Diamond Entertainment. "The Jr. Size Zoombie is targeted mainly
towards the younger age group and the Professional Size Zoombie caters
to adults, primarily in the sport competition arena. With the
acceptance of our new Jr. Size Zoombie model for children, Diamond now
has the opportunity to quickly expand into the vast toy market which
is much larger than the sport competition market," added Lu.
In August of 1999, the Company announced the signing of a
licensing agreement for the sole exclusive rights to distribute and
market the workout videos called "Strong Mind Fit Body", starring the
legendary quarterback Joe Montana. The Company has contacted several
informercial operators in an attempt to develop an association to
produce a program for select television channels utilizing the stars
of this video set, and to date, the Company has not received a firm
commitment from these operators. The Company intends to further
explore this association after the new millennium year. Prior to
entering into the promotional and marketing phase for sales to its
chain stores and mass merchandising customers, the Company plans to
initially develop the television informercial in the coming months.
The Company's master distribution agreement for the Joe DiMaggio
Commemorative products, announced in March 1999, was restricted to
certain limited editions of the Joe DiMaggio Commemorative products.
The Company decided that it could not effectively compete with other
licensees of the Joe DiMaggio products who market products resembling
those covered by the Company's distribution agreement. The Company has
no current plans to promote or sell these commemorative products.
Safe Harbor Act Disclaimer: This release may contain
forward-looking statements that involve risks and uncertainties,
including, without limitation, continued acceptance of the company's
products and services, increased levels of competition, new products
and technological changes, the company's dependence upon financing,
third-party suppliers and intellectual property rights, and other
risks detailed from time to time in the company's federal filings,
annual report, offering memorandum, or prospectus.
--30--KM/np* JS/np
CONTACT: Fred Odaka
Investor Relations
562/921-3999
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