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Thursday February 25, 1:50 pm Eastern Time
Company Press Release
SOURCE: e4L, Inc.
National Media Corporation Changes Name to e4L, Inc.; Name Highlights New E-Commerce Platform
NYSE Ticker Symbol Becomes 'ETV'
CEO Lehman Discusses Plans for the Future
LOS ANGELES, Feb. 25 /PRNewswire/ -- National Media Corporation (NYSE: NM - news) today announced stockholder approval of its new corporate name -- e4L, Inc. E4L's new trading symbol on the New York Stock Exchange will become ''ETV'' after the close of business on February 26, 1999. In the immediate future, the prior ''NM'' ticker symbol will direct investors to the new ETV symbol.
During today's special stockholder meeting, held to approve the name change, Stephen C. Lehman, e4L's Chairman and Chief Executive Officer, said, ''As we move forward under the new e4L banner, it is worth noting both the progress we have made and the many opportunities that lie ahead. In only 120 days since gaining operational control, our new management team has transitioned e4L into a global e-commerce and e-tailing leader. The decision by the American Stock Exchange, Nasdaq, and TheStreet.com to include e4L as one of only 15 companies in their electronic commerce index trading as ''ICX'' is a significant milestone in our progress. We certainly will not rest on our accomplishments so far, but, in the days ahead, we intend to further implement our business plan and to build upon strategic alliances to in order to solidify our position in the forefront of the growth on the Internet.''
The new name reflects e4L's commitment, success, and e-commerce identification, including:
-- Everything4Less, the Company's Internet and catalogue-based membership shopping service, which offers 800,000 products over the Internet, with low price guarantees and thousands of brand name products (www.Everything4Less.com);
-- Three ''live on tape'' themed video channels, which stream programming 24 hours per day, 7 days per week over the Internet; and ''on-demand'' audio and video programming, which enables consumers to call up their chosen products or programs via the broadcast.com home shopping channel (www.broadcast.com/shopping/);
-- The e4L Website for ''As Seen on TV'' products, which experienced 600% growth in revenue in the quarter ended December 31, 1998 and can be accessed through e4L's corporate Website (www.e4L.com)
-- A joint venture with Mitsui & Co., LTD, Japan, to pursue electronic commerce opportunities in Japan.
-- An advertising campaign for Everything4Less which has incorporated commercials featuring ''America's favorite TV moms'' -- Shirley Jones (''The Partridge Family''), Florence Henderson (''The Brady Bunch''), and Marion Ross (''Happy Days'') within e4L's infomercials, and will soon be included within all of e4L's more than 2,000 half-hours of infomercials broadcast each week, reaching every television household in the U.S.
-- A promotional television campaign in which America's favorite TV moms appeared on television networks and television stations throughout America promoting and branding Everything4Less.
Mr. Lehman added, ''While obviously named in recognition of our Everything4Less membership shopping club, e4L will stand on its own as a symbol of excellence, creativity, and success. Most importantly, by focusing on the e4L name, our television, Internet, and radio campaigns can build and reinforce a brand awareness for e4L and Everything4Less.''
''We are also very pleased with 'ETV,' our new NYSE trading symbol,'' continued Mr. Lehman. ''It certainly evokes the combination of e-commerce and television that is unique to our Company.''
E4L, Inc. 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% of television homes in the United States, brings its programming to more than 370 million television households in more than 70 countries worldwide, and provides video programming over the Internet.
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.
(To request previous press releases on National Media Corporation please contact, PR Newswire at (800) 758-5804 Ext 604644.)
SOURCE: e4L, Inc.
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