Thursday May 20, 10:54 am Eastern Time
Company Press Release
Planet City Acquires Exclusive Software License
SEDONA, Ariz.--(BUSINESS WIRE)--May 20, 1999--Planet City (OTC BB:PINC) announced today that it has acquired the exclusive worldwide rights to an innovative database software product for the Motion Picture and Broadcasting industry.
The product, "Production Archive and Licensing" (PAL), will keep track of a multimedia, film production, or broadcast company's contents, as well as its licensing activities.
Proprietary software for the motion picture industry archives did not exist until now. The industry currently uses low end solutions that are custom developed on PC based file access methods such as Microsoft's Access, Foxpro, or Filemaker, while larger companies have solutions created on more sophisticated Oracle or SQL data bases custom built by systems integrators.
PAL, which will sell for $5,000US, is aimed at a diverse spectrum of industry players such as broadcasters, producers, documentary companies, corporate video makers, and distributors. The potential customer base is estimated at 30,000 companies or organizations.
"We are conservatively estimating sales of 250 units in our first year," said Rudy Rupak, President of Planet City Software Publishing, a subsidiary of Planet City. "We plan on using strategic and direct approaches in our sales and marketing efforts."
The PAL product provides Planet City access to the motion picture and broadcast industry marketplace, thus paving the way for additional products and services, which Planet City can offer in the future.
PAL is a modified version of "Cyclop" software, which was developed by Cyclop Vision Inc., a subsidiary of GAPC (General Assembly Production Centre). PAL will debut at the Banff Television Festival on June 15th. See banfftvfest.com.
A recent report by Wall Street Research on Planet City is available at wallstreetresearch.net.
For further information call: 1-800-219-8785.
The Private Securities Litigation Reform Act of 1995 provides a "Safe Harbor" for forward-looking statements. Certain of the statements contained herein which are not historical facts are forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the company is detailed from time to time in the company's reports filed with the Securities and Exchange Commission.
Corporate Headquarters:
401 Jordan Road
Sedona, AZ 86336
Contact:
Planet City, Sedona
Greg Kraft, 800/219-8785
Info@planetcity.com
planetcity.com
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