To: Laura E. who wrote (32 ) 4/28/1999 5:15:00 PM From: Tradenride Read Replies (2) | Respond to of 71
NEWS RELEASE is out - $80M Opplty VANCOUVER, British Columbia--(BUSINESS WIRE)--April 28, 1999--Power Direct, Inc. (OTC BB:PWDR) announces today that the Company has signed a binding agreement with E-Card Gaming Systems, Inc. (E-CARD) to obtain an exclusive license in perpetuity for the world's first Greeting Card Lotto. E-Card will provide the software for the operations of the Greeting Card Lotto project. Greenwich Presentation, Inc. will be responsible for day to day business operations and marketing. This untapped business sector has a worldwide market of over US$15 Billion per year. PWDR will be the leader in this lucrative industry by being the first online greeting card lottery. ''At this moment in time, and the foreseeable future, most financial analysts will agree that the best return will be derived from the world of the Internet and E-Commerce. Our conservative estimate shows a potential revenue stream of over US$80 million in the first year, rapidly growing to US$500 million in the Year 2003,'' stated Chairman, Mr. Michael Wright. The Greeting Card Lotto consists of an Electronic Greeting Card that is sent to the recipient via E-Mail enabling the recipient to play an Instant Win ticket for cash and participate in sweepstakes or huge jackpot prizes. To add to the excitement, the senders will also share in the jackpot prizes. Statistics indicate that of the total greeting cards sold annually, about half are seasonal (ie. Christmas, Easter, etc.) with the remaining half being birthdays and everyday occasion cards. Sales of alternative cards especially non-occasion cards are on the increase. These greeting cards will be high quality featuring special effect animation, music songs, custom design facilities, and include as a gift Instant Lottery Scratch Tickets, and draws of Jackpot of the month and Grand Jackpot of the year. Both sender and recipient of the greeting card will have several chances to win prizes and jackpots that may amount to several million dollars. Each of our senders could potentially help generate new customers for us. The Internet, a tremendous marketing vehicle with exponential growth, will attract millions of visitors from around the world to our highly visible web site through various marketing programs that are to be implemented. This E-Commerce project will significantly increase Power Direct, Inc.'s profit base which we believe will have very positive implications for shareholder value. On behalf of the Board of Directors Signed "Michael Wright" Michael Wright Chairman of the Board For further information, please contact Investors Relations at 604/664-0484 or toll free at 888/488-6882 or please visit powerdirectinc.com . Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical fact are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but no limited to, certain delays in testing and evaluation of products and other risks detailed from time to time in Power Direct, Inc.s filings with the Securities & Exchange Commission. ------------------------------------------------------------------------ Contact: Power Direct, Inc. Michael Wright, 604/664-0484 Fax: 604/664-0498 Web Site: www.powerdirectinc.com