DECEMBER 18, 1997
Tri-Vision Signs Exclusive U.S. Retail Distribution
Contract with Minimum Volume of 1.5 Million V-Chip
Devices in First Year
TORONTO, ONTARIO--Further to the news release of November 18,
1997, Tri-Vision Electronics Inc. is pleased to announce the
signing of a definitive agreement with Ingram Entertainment Inc.,
of Lavergne, Tennessee, for the exclusive commercial retail
distribution of it's V-Chip Decoder Product Line in the United
States.
The agreement with Ingram Entertainment Inc. sets a minimum volume
performance target, in the first year, of 1.5-million devices in
the U.S. with an Initial Stocking Order of up to 400,000 units.
The initial suggested retail price for the base product, which
allows parents to control the quality and content of TV programs
viewed in the home, is US$79.95. Solicitation of major retail
accounts by Ingram will commence immediately after the
product-line launch at the Consumer Electronics Show, which is
scheduled to open January 8th, 1998 in Las Vegas, Nevada.
Contract negotiations with ANTEC/Telewire Supply (NASDAQ:ANTC) for
the exclusive distribution rights to U.S. cable operators, are
expected to be completed and announced before year-end. Upon
conclusion of the Telewire Supply contract, the minimum volume
performance target in the US is expected to exceed 2-million
devices. Telewire Supply has commenced surveying major cable
operators as to their annual requirements and profiled the
Tri-Vision V-Chip Product Line at the Western Cable Show earlier
this month in Anaheim, California. Product sales to consumers are
subject to finalization of the rating classification system and
technical standards in the U.S. expected to be announced shortly.
Tri-Vision's Vice-President, Marketing & Business Development,
Todd Grunberg, says this round of product orders marks a
significant milestone for the Company and the culmination of an
intensive research and product development program over the past
several years.
"These first distributor orders for the V-Chip product are just
the beginning of a campaign to successfully introduce this ground
breaking technology into households around the world," Grunberg
says.
With the Canadian product launch subsequent to the planned US
launch, and as further market research needs to be undertaken,
Tri-Vision and Beamscope Canada Inc. (TSE:BSP) have agreed to
defer any volume commitment at this time. Both firms are closely
cooperating on what is anticipated to be an equally successful
product roll out in Canada.
Tri-Vision Electronics Inc. is also pleased to announce that
Samsung Electronics and Tri-Vision have completed their efforts
under the joint development agreement, signed in November of 1997,
and the first V-Chip enabled television will be exhibited by both
firms, in their respective booths, at the Las Vegas Consumer
Electronics Show in early January 1998.
Tri-Vision has the exclusive worldwide rights to the V-Chip
technology invented by award-winning engineer Tim Collings.
Parent Company, Tri-Vision International Ltd./Lt‚e. trades on The
Alberta Stock Exchange in Canada under the symbol TVL.
For more information contact Century Communications Corporation at
[888] 298-8551 (toll free) or by E-mail to
tri-vision@tri-vision.ca or visit Tri-Vision's Internet site at
"http://www.tri-vision.ca".
On behalf of the Board of Directors of Tri-Vision International
Ltd./Lt‚e.,
Najmul H. Siddiqui, Chairman, President & CEO. |
