also: National Media and Mitsui to Pursue E-Commerce Opportunities; Powerful Alliance Between Japanese Trading Giant and American E-Comm Company
LOS ANGELES, Nov. 24 /PRNewswire/ -- National Media Corporation (NYSE: NM - news) today announced a commitment with Mitsui & Co., LTD, Japan, to jointly pursue electronic commerce opportunities in Japan. Additionally, the two companies entered into a new contract to seek media partners for home shopping programming throughout much of Asia
and Australia.
The agreement expands National Media's strategic relationship with Mitsui & Co., Ltd., an international trading company based in Japan and one of the largest companies in the world with more than $100 billion in annual revenues.
National Media, which is aggressively leveraging its media and programming infrastructure through electronic commerce, has recently debuted three full-time video programming channels over the Internet (http://www.broadcast.com/shopping/) and, this Thanksgiving weekend, is debuting its Everything4Less website, an electronic commerce/Internet and catalog-based membership shopping service, which provides more than 800,000 products at guaranteed low prices to online shoppers, including hundreds of major brands with extended warranties. The Everything4Less advertising campaign, featuring ''America's favorite TV moms'' -- Shirley Jones (''the Partridge Family''), Florence Henderson (''the Brady Bunch''), and Marion Ross (''Happy Days'') will be included within the 2,000 half-hours of infomercials that National Media broadcasts nationwide each week, reaching every television household in the United States. After Thanksgiving, the Website for Everything4Less can be found at (http://www.Everything4Less.com or, simply, e4l.com).
Steven C. Lehman, Chairman and Chief Executive Officer of National Media, said, ''One of the many reasons why electronic commerce is growing at an incredible rate is that it knows no geographic boundaries. As a company operating in 73 countries around the world, National Media has the international infrastructure that can be quickly leveraged to give us a truly global electronic commerce platform. We are delighted to work with Mitsui, truly one of the leading companies in the world, to achieve this goal.''
Yutaka Shinto, General Manager, Media Business Division, Information Business Group, Mitsui & Co., said, ''We are very happy with National Media's new management team and its strategic direction, energy, focus and dedication to improving their company's profitability. National Media's electronic commerce initiatives are very exciting and we look forward to working closely together.''
Eric R. Weiss, Vice Chairman and Chief Operating Officer of National Media, said, ''I am very pleased that we are not only expanding our relationship with Mitsui, but we are also aggressively seeking new opportunities to jointly expand our electronic commerce platform. Japan ranks among the top users of the Internet and our new E-Commerce initiatives should blend well with Mitsui's E-Commerce experience and interests.''
National Media Corporation (NYSE: NM - news) is the world's largest publicly held direct response television company and is an innovative leader in the growing world of electronic commerce. It broadcasts more than 3,000 half-hours of programming each week throughout the world, reaches 100 percent of television homes in the United States, and brings its programming to more than 370 million television households in more than 70 countries worldwide.
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 the Company) contains statements that are forward-looking, such as statements relating to anticipated future revenues of the Company and success of current product offerings. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of the Company. For a description of additional risks and uncertainties, please refer to the Company's filings with the Securities and Exchange Commissions, including Forms 10-K and 10-Q.
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SOURCE: National Media Corporation
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