FineLine Properties.com Boein Korean License Agreement Expanded To Include Entire Cartoon Family Plus Financial Terms
FAIRLAWN, Ohio--(BUSINESS WIRE)--May 3, 1999--FineLine Properties Inc. (OTC BB:FNLN - news) Monday announced that the Company's licensing and merchandising agreement with Boein Co. Ltd of Seoul, Korea, for its Y2K cartoon character has been expanded to include exclusive options to Boein for the entire cartoon character group line.
The Company also revealed that the licensing deal with Boein Co. Ltd calls for a guaranteed minimum royalty payment of $230,000.00 USD over the three year term of the agreement, with renewal options. ''We have worked hard to further develop and expand our agreement with our Korean partner,'' stated FineLine President Robert Petry ''and the expansion of the terms to include the remainder members of our cartoon family provides the Company with a key merchandising foothold in a lucrative region, Asia.''
In an agreement that includes extensive Korean National advertising for the Y2K character, the addition of the options for the remainder of the FineLine line will provides Boein Co. Ltd with more clout in arranging deals for licensing as a result of having these character options. ''The significance of this arrangement,'' continued Mr. Petry, ''is that each cartoon character will thus receive its own separate licensing / merchandising agreement with royalty minimum guarantees. This expanded agreement came as a result of the tremendous response Boein received from showing the entire FineLine cartoon line at the Cyber Character Expo.''
Boein's program for the licensing and merchandising of the Company's characters is extensive. It includes contacting over 1,000 companies as well as an ad and interview arranged in the Tex Journal, a major fashion publication in the Orient. Boein Co. Ltd has a client roster of over 32 firms with licensing activities spanning apparel, eye glasses, socks, umbrellas, gloves, leather goods, toys, games and software.
FineLine is an entertainment-based company that develops and acquires cartoon characters. The company has had some of its cartoons in major along with appearances on over 450 licensed products in over 20 countries. To view the entire FineLine family, simply go to the company's Web site at www.finelineproperties.com.
Statements in this release are made pursuant to the ''Safe Harbor'' provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risk and uncertainties, including without limitation, continued acceptance of the company's services, increased levels of competition for the company, and dependence on the performance of the management of the company.
FineLine Web Site Visit finelineproperties.com
Investor Relations Tom Madden 800/941-1558
Online Investor Package Visit ibchannel.com
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