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Friday March 10, 9:17 am Eastern Time
Company Press Release
MDI & Georgia Lottery Break New Ground in the Licensing Arena
Ray Charles Sings - Georgia Schools on My Mind
HARTFORD, Conn.--(BUSINESS WIRE)--March 10, 2000--MDI Entertainment, Inc. (OTC BB: MDIH - news) announced today that it has completed a revolutionary licensing transaction that allows a leading U.S. lottery to team up with the legendary Ray Charles and his music, as the first project under MDI's exclusive licensing agreement to market Ray Charles to the lottery industry.
The Georgia Lottery Corporation (GLC), its ad agency Austin Kelley and MDI working with the incomparable Mr. Charles created a stunning series of television commercials highlighting how the Georgia Lottery benefits education in Georgia by funding three popular educational initiatives.
It is very exciting for us to have Georgia's own Ray Charles appearing in these commercials,`` said GLC President and CEO Rebecca Paul. 'For five decades, his incredible talent and unmatched musical style have repeatedly won the hearts of people from Georgia and all around the world. Now, with these informative commercials and his charming presence, he truly underscores how the GLC benefits every student in the state by funding programs which take them from ABC's to college degrees.``
MDI President and CEO Steve Saferin called the project the first of its kind in the industry. ``We believe the success of this venture has ushered in an era of new markets and potential partnerships for our entertainment licensing products and services.'
``Combining the remarkable entertainment power of this amazing star with an informative campaign for the citizens of his native Georgia is, I think, revolutionary. Ray Charles and his music have a powerful, emotional bond with the people of Georgia and what they stand for,' Mr. Saferin added.
Since it was created by voters in Georgia, the GLC has raised more than $3.47 billion for the benefit of education. Specifically, lottery dollars have made the following possible:
- More than 457,000 HOPE college and technical institute
scholarships
- Preschool programs that prepared more than 308,000 four year olds
- More than $1.35 billion for school computer and technology
improvements.
MDI specializes in creating, marketing and implementing entertainment-based promotions on behalf of the North American lottery industry. MDI revolutionized the lottery industry with its introduction of second-chance merchandise prizes.
MDI's current lottery promotions include scratch games featuring other properties such as Harley-Davidson©, Wheel of Fortune©, Jeopardy!©, Betty Boop(TM), Twilight Zone(TM), Louisville Slugger©, TNN©, CMT©, Hummer©, (Ray Charles©,of course), James Bond 007©, Pink Panther(TM), The Outer Limits(TM), Heroes of Space(TM), Michael Buffer's Let's Get Ready To Rumble©, Dick Clark's American Bandstand©, Times Square 2000(TM), SPAM and auto race drivers Dale Earnhardt©, Dale Earnhardt, Jr.© and Bill Elliott.
On January 31, MDI Entertainment, Inc. announced that it signed an agreement with The Lottery Channel, which will merge into a wholly owned subsidiary of MDI. Subject to stockholder approval, the merged Company will be renamed Lottery.com, Inc. The primary business objective of the merged Company, in addition to licensing entertainment properties, cultural icons and personalities, will be to position itself to capture a significant share of Internet lottery sales as lottery sales become Internet enabled. Completion of the merger is subject to a number of conditions, including receipt of a fairness opinion for MDI stockholders, approval of the stockholders of The Lottery Channel, receipt of certain financing and other matters.
The Private Securities Litigation Reform Act of 1995 provides a ``safe harbor for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by MDI) contains statements that are forward-looking, such as statements relating to the future anticipated direction of the lottery industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of MDI. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, changes in federal or state tax laws and market competition factors.
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