Tuesday June 16, 5:32 am Eastern Time
Company Press Release
Tri-Vision Signs Exclusive V-chip Deal with Nichimen
''By assigning Japan's Nichimen Corporation (1997 revenues;
US$35-billion) the rights to manufacture, market, distribute &
sell its V-gis(TM) v-chip technology in Japan, Asia and Europe,
Tri-Vision stands to capitalize on the power and resources of a
giant global organization and capture the enormous revenue
potential of the v-chip on a global scale.''
TORONTO--(BUSINESS WIRE)--June 16, 1998--V-chip pioneer Tri-Vision Electronics Inc. (TSE:TVL - news) has reached a Collaborative Agreement with Nichimen Corporation of Tokyo, Japan that stands to dramatically increase the progression of v-chip technology in markets around the globe.
Tri-Vision's President & CEO, Najmul Siddiqui says that the Company stands to generate significant revenue through the exclusive Agreement, that will see Nichimen manufacture, market distribute and sell Tri-Vision's V-gis(TM) v-chip technology in Japanese, Asian and European markets.
Nichimen is a major international conglomerate with projects and trading activities in a wide range of areas around the world including telecommunications and project financing. The Company posted 1997 revenues of US$35-billion.
Nichimen will apply its expertise, resources and commitment for the purpose of introducing the v-chip technology to governments in Japan, Asia and Europe. The parties will work together with the goal of the adoption of v-chip ratings systems for compliance by TV broadcasters in the respective countries.
Under the Agreement, Tri-Vision has exclusively licensed Nichimen to:
a) design and develop Tri-Vision's V-gis(TM) v-chip technology;
b) market, distribute and sell V-gis(TM) v-chip technology to TV
manufacturers based in Asia, Japan and Europe (and to those
companies' worldwide subsidiaries); &,
c) manufacture V-gis(TM) v-chip products for Asian, Japanese and
European markets.
As a part of the exclusive Agreement, Nichimen will undertake its activities on a project-by-project basis and will be required to meet certain pre-defined performance requirements.
Tri-Vision's President & CEO Najmul Siddiqui says that while the terms and financial consideration of each project are still to be defined, the strong commitment to Tri-Vision and its unique, proprietary V-gis(TM) v-chip technology under this agreement stands to be a major windfall for Tri-Vision and its shareholders.
''Although the v-chip has gained popularity in the United States, this parent-driven technology is in demand around the world,'' Siddiqui says.
''By assigning Japan's Nichimen Corporation with the rights to manufacture, market, distribute & sell its V-gis(TM) v-chip technology in Japan, Asia and Europe, Tri-Vision stands to capitalize on the power and resources of a giant global organization and capture the enormous revenue potential of the v-chip on a global scale.
''Tri-Vision will continue its North American marketing efforts with full force and, together with Nichimen, we will successfully penetrate international markets as well,'' Siddiqui stated.
The Nichimen Corporation's General Manager, Plant & Projects Dept., Toshinori Ikebe, has also conveyed his Company's excitement over helping to bring v-chip to the world.
''We look forward to further definitive agreements being signed, based on the various projects which we are planning to undertake together. The uniqueness and flexibility of Tri-Vision's V-gis(TM) v-chip technology, particularly as it applies to television manufacturers, and the strength of Tri-Vision's intellectual property are key reasons for Nichimen entering into this Agreement and into future project agreements with Tri-Vision,'' stated Ikebe.
This Agreement will not impact on any of Tri-Vision's present negotiations or understandings in Asia.
Tri-Vision holds the exclusive worldwide rights to the v-chip technology invented by award winning engineer Tim Collings, P. Eng. Parent Company, Tri-Vision International Ltd./Ltee. trades on The Toronto Stock Exchange, symbol TVL. (Warrants Symbol.TVL.WT).
Concerned parents interested in purchasing V-gis(TM) set-top-boxes should visit the Internet site at ''http://www.v-gis.com.''
For public relations information contact McGee Best Frank & Ingram at 615/255-6234 ext. 116 or e-mail to cc@mbfi-nashville.com. For investor relations information contact Century Communications at 888/298-8551 (toll free) or 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./Ltee., Najmul H. Siddiqui, Chairman, President & CEO (416/298-8551).
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Contact:
Tri-Vision
tri-vision@tri-vision.ca
or tri-vision.ca
or
McGee Best Frank & Ingram
Public Relations: 615/255-6234 ext. 116
cc@mbfi-nashville.com
or
Century Communications
Investor Relations: 888/298-8551
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