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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: GJLevine who wrote (31603)	4/21/1999 9:20:00 AM
From: Rajiv	Read Replies (2) \| Respond to of 122087

KTEL is back in play :-) K-tel International Launches Auction Site; New Service Supports K-tel Diversification Strategy of Offering New Products and Services Business Wire - April 21, 1999 09:04 MINNEAPOLIS--(BUSINESS WIRE)--April 21, 1999--K-tel International, Inc. (Nasdaq:KTEL) today announced that it has added an auction service to its current ktel.com e-commerce web site. The auction already has listings in product categories including music, collectibles, computers, sporting goods, toys and software. Uniquely positioned to offer its music and consumer products catalog on the auction site, K-tel will continually add listings. In addition, auction participants will be able to register their own products for sale to other consumers. "The auction is a natural extension of our core strategy of broadening our product and service offerings into profitable, high growth business segments," stated Philip Kives, Chairman and CEO of K-tel. "This is one of the major new services we plan to offer our customers." According to a study by market research firm Jupiter Communications, in 1998 online shoppers purchased more than $461 million in merchandise from Internet auction sites. The study also projects that the online auction market will grow to $3.2 billion in purchases by 2002. "With the growing interest in online auctions, we are excited to offer this new service and capitalize on the demand, while offering ktel.com users a more complete shopping experience," added Mr. Kives. Ktel.com, K-tel International's e-commerce site features 250,000 music titles, custom CDs, 35,000 home video titles, as well as consumer products. The site competes with online music retailers such as CDNow (Nasdaq:CDNW) and Amazon.com (Nasdaq:AMZN) as well as internet auction site eBay (Nasdaq:EBAY). K-tel International, Inc. is a vertically integrated developer, marketer, and distributor of entertainment and consumer products worldwide. The Company markets its product lines either to retailers, wholesalers, distributors, or licensees throughout the world, or directly to the consumer via television and other forms of direct response media, including its Internet websites in the U.S. (www.ktel.com) and Germany (www.ktel.de). K-tel has active operations in the United States, the United Kingdom, Germany and Finland.