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Non-Tech : AVLI - American Video Language Institute -- Ignore unavailable to you. Want to Upgrade?

To: David A. Irvine who wrote (4)	8/11/1998 2:11:00 PM
From: Brad	Respond to of 15

Dave, Did you see today's news on KWIN (formerly AVLI)? Here it is... ----------------------------------------- Tuesday August 11, 12:15 pm Eastern Time Company Press Release Kenwick Industries Signs Exclusive North American Distribution Agreement with Philips Electronics' Division FT. LAUDERDALE, Fla.--(BUSINESS WIRE)--Aug. 11, 1998--Kenwick Industries, Inc. (OTC BB: KWIN) announced today that Language Learning Group, a division of Philips Electronics N.V. (NYSE: PHG - news), has signed an exclusive distribution agreement with Kenwick Industries, Inc. This agreement marks the second distribution agreement between the parties in the past ninety (90) days. On Monday, August 10, 1998, Philips' Language Learning Group signed an Agreement that provides exclusive North American distribution rights to American Video Language Institute, a division of Kenwick Industries, Inc. The agreement covers a newly developed children's language learning video program series entitled "Blip and Blab." This outstanding educational program, developed by Philips Language Learning Group, is considered one of the finest children's language programs in the world. The "Blip and Blab" Series consists of 9 episodes of approximately 25 minutes each and 1 "Songbook" of approximately 40 minutes that contains all 27 songs used in the series. Philips will provide master tapes and has granted Kenwick the right to use the Philips trademark. Kenwick will handle production, packaging, and promotional material. The development of market data and marketing plans will be a coordinated effort between Kenwick and Philips. Kenwick Industries President Kenneth Wulwick stated, "This new agreement further solidifies our role in making Philips' innovative language learning programs available to the millions of people who must learn a second language. In this rapidly expanding marketplace, the world-wide recognition of the Philips' name, and the quality products it represents, will help us capture a significant share of the market in this industry." Mr. Wulwick concluded, "We appreciate Philips' creativity and dedication to education. Those qualities are evident in their entertaining and effective language learning programs. We look forward to a long and profitable relationship with Philips and we are committed to giving their programs the international exposure they deserve. We are currently in discussions with Philips to reach new international markets." A previous distribution agreement that covers Philips' International Business Language and Integrated English learning programs was signed and announced on May 14, 1998. That program series is projected to increase Kenwick Industries' revenues by over $1 million annually. The new children's program series, covered by this agreement, is projected to increase Kenwick Industries' gross revenues by over $500,000 the first year, $750,000 the second year, and $1.2 million the third year. ABOUT PHILIPS ELECTRONICS Royal Philips Electronics of the Netherlands is one of the world's largest electronics companies, with sales of over $39 billion in 1997. It is a global leader in color television sets, lighting, home telephony products, electric shavers and recorded music (PolyGram). Its 264,700 employees in more than 60 countries are active in the areas of semiconductors and components, consumer products, professional products and systems, lighting, and software and services. Philips is quoted on the NYSE, London, Frankfurt, Amsterdam and other stock exchanges. News from Philips is located at www.news.philips.com. ABOUT KENWICK INDUSTRIES Kenwick Industries is a developing multi-industry corporation with an increasing scope of business interests. Kenwick seeks existing profitable acquisition targets with efficient management systems already in place. Kenwick utilizes profitable distribution systems nationally and internationally and presently operates in language learning systems. Kenwick is currently acquiring automotive rental, retailing, and financing businesses. The company focus is on profits and increasing share value. This press release contains forward-looking statements with respect to the results of operations, expectations and business of the Company that involves risk and uncertainties. The Company's actual future results could materially differ from those discussed. Risks and uncertainties of the Company will be detailed from time to time in the Company's periodic reports to be filed with the Securities and Exchange Commission. Contact: Kenwick Industries, Inc. Shel Glickman, 800/822-4122