AFTC--NEWS
American Film Technologies, Inc. Elects Jeffrey Yapp to its Board of
Directors and Chairman of its Executive Committee
NEW YORK, Jul 5, 2000 /PRNewswire via COMTEX/ -- American Film Technologies,
Inc. (OTC Bulletin Board: AFTC) (http://www.aftmedia.com), has announced the
election of Jeffrey B. Yapp, President of Hollywood Entertainment Corporation,
to its Board of Directors and as Chairman of its Executive Committee.
In announcing the appointment, Fred Rudy, American Film's CEO, said "AFT is
thrilled to have Jeff on our expanding team. He brings us significant experience
in the entertainment business and a profound depth of knowledge regarding
content acquisition, development and distribution. As we continue rebuilding
AFT, Jeff will play a critical role in helping to direct our momentum while
providing us with practical guidance and invaluable management skills."
Commenting on his new position, Jeff Yapp stated, "I am enthusiastic about AFT's
prospects and product opportunities. As the company continues to reposition
itself, I expect to be an active director, providing American Film with
worldwide access to management talent, entertainment content and distribution
channels. With its proven and proprietary technology, I believe AFT has an
unprecedented opportunity to cost-effectively amass a library of modernized
classic content at a time when domestic and international demand is growing
exponentially."
Since 1997, Jeff Yapp, 41, has been President of Hollywood Entertainment, one of
the fastest growing retailers in the United States, averaging one store opening
per day over the last three years. Hollywood Entertainment, with annual sales in
excess of one billion dollars, operates over 1750 Hollywood Video retail
superstores (http://www.hollywoodvideo.com) in 46 states and is the second
largest retailer of rentable home videocassettes, DVDs and video games in the
United States. Its customer transaction database contains information on about
27 million U.S. member accounts. Prior to joining Hollywood Entertainment, Jeff
served as President Worldwide of Twentieth Century Fox Home Entertainment, Inc.,
and as President of Fox International. Fox enjoyed tremendous success with the
colorization and distribution of several titles, including a series of Shirley
Temple films that were among the most successful video offerings in Fox's
history. According to published sources, Shirley Temple's colorized 'Heide'
alone has sold 26 times as many copies as its black and white version -- 1.2
million versus 46,000.
About American Film Technologies, Inc.:
Historically, AFT's principal business has been the production of color versions
of motion pictures and television programs originally produced in black and
white. Today, the company intends to utilize its patented technology to restore,
modernize and preserve classic films and TV shows while building and
distributing its own irreplaceable library of proven content. This new content
will provide a platform for AFT to generate licensing fees, advertising and
e-commerce revenue from multiple sources, including broadcast, cable, DVD, VHS,
DBS, the Internet and all emerging digital and broadband distribution channels.
Forward-looking statements:
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 in oral statements or other written statements made or
to be made by American Film Technologies, Inc.) contain statements that are
forward-looking, such as statements relating to the future anticipated direction
of the company, plans for future expansion, various business development
activities, planned capital expenditures, future funding sources, anticipated
sales growth, and potential contracts and joint ventures. 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 the Company. For more information about these and other risks and
uncertainties, see the SEC filings of American Film Technologies, Inc.
SOURCE American Film Technologies, Inc.
CONTACT: American Film Technologies, Inc. at 212-572-6370 or
info@aftmedia.com
URL: aftmedia.com
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