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Tucked some away just in case @ .027 (COMTEX) B: e-VideoTV Inc. Closes Ziracom Acquisition B: e-VideoTV Inc. Closes Ziracom Acquisition SCOTTSDALE, AZ, Feb 14, 2002 (INTERNET WIRE via COMTEX) -- e-VideoTV Inc. (OTCBB: EVTV) announces that it has completed the acquisition of Ziracom Digital Communications Inc. Ziracom's video compression technology offers significant reduction in file size while maintaining image quality resulting in reduced storage and bandwidth creating considerable cost savings. e-VideoTV Inc has issued 8,655,138 restricted shares in return for all outstanding Ziracom shares. There is an opportunity for Ziracom shareholders to acquire additional e-VideoTV Inc shares should certain performance criteria be achieved by August 31, 2002. The Company has several beta tests of the proprietary Ziracom codec underway with potential clients and anticipates signing contracts in the near future. About e-VideoTV Inc: e-VideoTV, Inc. develops and licenses various leading edge video technologies including: - video compression, - video downloading, - pre-caching VOD delivery technology currently under patent-pending. The Company is positioned to become a leader in consumer focused, web based, mobile and wireless content delivery solutions. Our proprietary compression technology and delivery services enable businesses to deliver full motion media to their targeted audience over the Internet or secure channel whether on a computer, set top or PDA. To protect its investment, the Company is considering applying for patents on its software compression engine and its relevant components. Please visit our site at www.e-videotv.com and www.ziracom.com Safe Harbor Statement All statements contained herein, as well as oral statements that may be made by the company or by officers, directors or employees of the company acting on the company's behalf, that are not statements of historical fact, constitute "forward-looking statements" and are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of the company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. Such risks and uncertainties are outlined in the company's Annual Report on Form 10-K for 2000 as filed with the Securities and Exchange Commission. The company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release. CONTACT: Andrew Saksa e-VideoTV, Inc. 480-778-1499 Peter Wilson e-VideoTV, Inc. 877-384-3361 | ||||||||||||||
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