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Microcap & Penny Stocks : IHTL Innovative Holdings&Technologies Telemetry in Sports -- Ignore unavailable to you. Want to Upgrade?

To: gizmo&jack who wrote (462)	5/6/1999 9:00:00 AM
From: chapin	Read Replies (1) \| Respond to of 689

(BSNS WIRE) Innovative's sen1.com Global Sports Internet Network Signs E Innovative's sen1.com Global Sports Internet Network Signs Elite as Official E-commerce Merchandise Supplier Business Editors WINTER PARK, Fla.--(BUSINESS WIRE)--May 6, 1999--Innovative Holdings & Technologies, Inc.(OTC/BB: IHTL) has signed a letter of intent with Elite Sports Marketing, Toronto, Canada, to become the official retail marketer and merchandiser for the new sen1.com (Sports Entertainment Network 1.com) worldwide Internet sports network currently under development. Elite Sports Marketing is the exclusive supplier of teamwear and merchandise for Formula One's Team Arrows, and the legendary Formula One Team Lotus. Formula One is the largest motorsports venue in the world, dwarfing all North American motorsports including NASCAR, CART, and the PEP Boys Indy Racing League combined, boasting a total annual audience of 55.2 billion. "A key component in successfully branding the sen1.com Internet sports network is Elite Sports Marketing's ability to create a complete line of associated apparel and merchandise", said Helmut Wyzisk, Chairman and President of Innovative Holdings & Technologies, Inc. "Elite Sports Marketing will be handling all aspects of sen1.com's retail sales and merchandising", Wyzisk added. "In addition to our branded merchandise, Elite will be involved with licensing and developing cross-marketing relationships with major sports venues worldwide. This merchandise will be sold via e-commerce on sen1.com and through other retail channels that will be created for us. Worldwide sports merchandising is a multi-billion dollar business and Elite's extensive experience in this marketplace will enable sen1.com to capitalize on it in a big way." Innovative Holdings & Technologies, Inc. identifies, acquires and incubates early stage niche technology companies with outstanding growth potential. The Company is also creating a worldwide Internet sports network, sen1.com, which is billed as "the total Internet sports experience," providing virtual real time participation for internet users in sporting events, user-friendly on-line games, e-commerce and face-to-face audio and video chat rooms. Valu-net Corporation of Toronto, Canada, is working with IHTL to develop and market this new virtual, real-time sports network on the World Wide Web. IHTL's Xtreme Telemetry Systems, Inc. subsidiary offers TV and Internet broadcast viewers real-time data on an athlete's physical condition, equipment performance, and relevant environmental information, which will be broadcast on the new Internet sports network. The statements contained in this release which are not historical facts contain forward-looking information with respect to plans, projections or future performance of the company; the occurrence of which involves certain risks and uncertainties that could cause the company's actual results to differ materially from expected results. Such risks include the timing of implementation and the scope and success of the program described here. --30--eb/ny* CONTACT: Innovative Holdings & Technologies, Inc. Scott Flynn, Investor Relations: 888-338-3367 KEYWORD: FLORIDA INDUSTRY KEYWORD: AUTOMOTIVE ENTERTAINMENT SPORTS COMED COMPUTERS/ELECTRONICS INTERACTIVE/MULTIMEDIA/INTERNET Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com * end of story *