Robert K. Lifton Becomes Chairman of LaserMedia
Advisory Board; Howard Weingrow Becomes Advisory
Board Member; LaserMedia Concludes Private Placement
Business Wire - May 27, 1999 14:27
TORONTO--(BUSINESS WIRE)--May 27, 1999--LaserMedia Communications
Corp.(Nasdaq:LZMCF)(CANADIAN DEALING NETWORK:LMCD.), creator of the interactive
health and fitness website actfit.com and author of the highly-successful Active Fitness line of
CD-ROMs, is proud to announce that Robert K. Lifton has joined its Advisory Board as Chairman,
and that Howard Weingrow has become a member of the Advisory Board.
"We are delighted that two of America's leading businessmen have become involved with our efforts,"
said LaserMedia CEO Richard Hue. "Both Bob and Howard have forgotten more about business than
most of us will ever know. Their experience in the health, fitness and wellness industry will be
invaluable, and their leadership will allow us to progress to a new level of success."
Mr. Lifton, Chairman of Cell Diagnostics Ltd. and of Medis El Ltd., brings to LaserMedia over 30
years of experience in the health care provision field. He was a founder, past President and Director of
Preferred Health Care Ltd. (AMEX), Co-Chairman and Director of Marcade Group Ltd., President
of Team America Ltd. and the U.S. National Soccer Team. In addition, he is an officer and director of
a number of other privately held companies, and is a Director of Bank Leumi, USA.
In 1951, he received an L.L.B. degree from Yale Law School, where he was a member of the Order
of the Coif and Note Editor of the Yale Law Journal. Mr. Lifton developed a broad range of interests
in the real estate, finance and the entertainment fields. In 1961, he founded the Transcontinental
Investing Corporation, serving as President until it was listed on the New York Stock Exchange. He
was then Chairman of the Board until its merger in 1972. From 1972 to 1978 he was Visiting Lecturer
in Law at both Columbia and Yale Law Schools where he taught basic and advanced courses in real
estate and real estate financing. In June 1993, Mr. Lifton received the degree of Doctor of Philosophy,
Honoris Causa from Bar-Ilan University in Israel.
He is Chairman of the International Board of the U.S./Middle East Project of the Council on Foreign
Relations, and Chairman of the Public Health Research Institute.
Mr. Lifton is listed in "Who's Who in America" and "Who's Who in the World."
Mr. Weingrow, a business associate of Mr. Lifton's for over 40 years, is President of Cell Diagnostics
Inc., President of Medis Inc. and a director of CreditCards.com, a merchant banker company.
Mr. Weingrow's business career has been as prolific and diverse as Mr. Lifton's. After a distinguished
Air Force career in World War Two during which he flew 65 combat missions and was awarded the
Distinguished Flying Cross, Mr. Weingrow began extensive real estate activities. With Mr. Lifton he
organized Transcontinental Investing Corporation and served as its President.
In the entertainment field, Mr. Weingrow has been a producer and distributor of records and tapes,
and has produced a number of motion pictures.
Politically active, he was Treasurer of the Democratic National Committee and in 1976 and 1980 he
was Deputy Finance Chairman of the Carter Finance Committee.
In 1989 he established the Weingrow Family Pediatric Urology Research Laboratory at Long Island
Jewish Hospital. He is a Trustee of the James S. Brady Presidential Foundation, the Nassau County
Museum of Fine Art, and the Children's Medical Fund.
Mr. Weingrow is listed in "Who's Who in America."
In other news, LaserMedia is pleased to announce that it intends to proceed, through an arm's length
transaction, with a private placement consisting of 1,511,629 common shares of the Corporation at a
price of $0.64 per share totalling CDN$967,441, and 572,000 warrants entitling the subscriber to
purchase one common share at $0.74 up to and including a date five years from the closing of this
transaction. Proceeds are to be used for working capital.
Actfit.com is the Internet's only fully-interactive health and fitness website.
Log on to actfit.com for all your interactive health and fitness needs!
Forward-looking statements and comments in this press release are made pursuant to the safe-harbor
provisions of Section 21E of the Securities Exchange Act of 1934. Such statements relating to, among
other things, the prospects for the company to increase the level of sales, complete future web sites or
complete future acquisitions are necessarily subject to risks and uncertainties, some of which are
significant in scope and nature, including, but not limited to, the risks related to the demand for the
company's products and/or services, competition, and availability of capital. The information herein has
not been approved or disapproved by regulatory authorities.
CONTACT: RT Equity Inc.
Jack Wall or Vince Balatbat, 416/967-4779 or
888/821-2800
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