Telepanel Systems And IBM Modify Their ESL Relationship
TORONTO, ONTARIO, May 22, 2003 (CCNMatthews via COMTEX) --
Telepanel Systems Inc. (OTC:TLSXF), a world leader in electronic shelf label systems for retail stores, commented on IBM's withdrawal from the reselling of Telepanel System's Millennium Plus Electronic Shelf Labels.
'This action signals a change from a hardware relationship to one concentrating on ESL services. The marketing relationship with IBM's Retail Store Solutions was focused on the world's largest retailers, which will still be open to Telepanel as a marketplace through working with IBM Global Services as a preferred delivery partner', stated Garry Wallace, President and CEO of Telepanel Systems Inc. 'We have felt for sometime that there is significant opportunity in a broader spectrum, and we have begun a program to pursue new relationships with other Retail IT providers who address all sectors of the retail marketplace. This withdrawal removes the exclusivity constraint that existed in the previous agreement, so that we have the freedom to engage and forge new partnerships with resellers around the world, to provide us with deeper and broader market coverage than ever before.'
'To this end, I am pleased to announce that we have already signed four reseller agreements, and we will close another agreement this week. We see this as a stronger approach to the marketing of the Telepanel Millennium Plus ESL System, which combines the opportunity to utilize IBM Global Services for large engagements, but has the freedom to engage a number of highly motivated partners, who have the intimate knowledge of their customers'business and are excited to use the Telepanel ESL System to meet them.'
'Our mutual experience with IBM RSS in engaging the ESL marketplace has given Telepanel great insight into the specific requirements of major retailers. This experience is allowing us to accelerate our ongoing development process on software, hardware and application. We will also continue to explore further relationships and hope to close a financing that we require in the short term to continue to remain on-course to realizing the huge potential of the ESL market.'
Telepanel is a leader in developing wireless electronic shelf labelling systems for retail stores. Telepanel ESLs are placed on the edge of store shelves to show a product's price and other information. Prices are changed by a radio communications link from the store's product database, to provide rapid, accurate pricing updates.
Telepanel's systems are integrated with the leading 2.4 GHz RF LANs which allows retailers to take advantage of their investment in IEEE-standard in-store RF networks and extend their use to electronic shelf labels.
Telepanel wireless ESLs are installed throughout the United States, Canada, and Europe, with such premier supermarket chains as Adam's Super Food Stores, A &P, Stop &Shop, Big Y, Reasor's, Doll's, Brown's, Stew Leonard's, Grand Union, Wakefern, Berks, Ellington, Port Richmond, Champion, Leclerc, Intermarche, SPAR, and Super U, and at Universal Studios, Hollywood.
This press release includes forward looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements do not constitute historical facts and involve risks and uncertainties, including, but not limited to, the possibility that adverse economic or other factors may cause actual results to be materially different than current estimates and projections. Additional detailed information concerning a number of factors that could cause actual results to differ materially from the information contained in this press release is contained in the reports and other documents of Telepanel filed with the Securities and Exchange Commission from time to time.
Telepanel Systems Inc. - In Canada Garry Wallace President &CEO (905)-477-7877 Internet: www.telepanelsystems.com or Straus Communications - In the US Irving Straus (212)-768-2477
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