LONDON, 10th March 2005 - Gizmondo Europe Ltd, subsidiary of Jacksonville, Florida-based Tiger Telematics Inc. (other OTC, TGTL), today confirmed it has signed an agreement with Napoli-based distribution company, Com. Met. S.r.l., for distribution rights in Italy, ahead of Gizmondo's pan-European roll out this spring.
The 57 million-strong Italian population has long been a hotbed for mobile technology, and gaming in particular enjoys an enthusiastic audience that extends from hardcore to the mass market. Also renowned for early adoption of new gaming trends, Italy is ripe for a boom in the handheld sector this year. Both companies are working closely together to strategise the impending launch, and plans are already underway for a high-profile media event, details of which will follow.
The Gizmondo multi-entertainment device is currently being released in the UK, and is rapidly gathering momentum and interest in both Europe and North America. Street dates will be confirmed on a territory-by-territory basis, and Italy is due to be announced shortly.
The announcement comes as Gizmondo began showing the GPS functionality of the device for the first time at the CeBIT show in Hannover, Germany, which runs from 10th - 16th March 2005. The Gizmondo, its games, and GPS applications will be on show in Hall 25, stand F36, as well as being featured on the NVIDA booth in Hall 23, B43.
Arthur Ossler, director for Com. Met. S.r.l., says: "The company has placed an initial order of 120,000 units with Gizmondo Europe, which will begin to open the doors to a much wider audience. Gizmondo is an extremely exciting proposition for the Italian market. We expect significant growth in the mobile gaming sector in Italy this year, Gizmondo is superbly position to be among the market leaders, and our opening order is just the tip of the iceberg of what we expect to follow."
Carl Freer, managing director, Gizmondo, added: "Italy has always been at the forefront of mobile technology. We've focus tested extensively for each European market, and the Italian audiences favoured the device particularly highly. We will be working closely with our new distribution partner to maximise opportunities in the region."
The Gizmondo is powered by Microsoft Windows CE advanced real-time operating system, boasting a 2.8-inch TFT colour screen with a Samsung ARM9 400Mhz processor and incorporates the GoForce 3D 4500 NVIDIA graphics accelerator. It provides cutting-edge gaming, multimedia messaging, an MP3 music player, Mpeg4 movie playing capability, a digital camera and a GPRS network link to allow wide-area network gaming. Additionally, it contains a GPS chip for location-based services, is equipped with Bluetooth for use in multi-player gaming and accepts SD and MMC card accessories.
The Gizmondo device and its games are in retail stores from 19th March 2005 in the UK, and in North American and Continental Europe markets from Spring 2005. The Company cannot project the number of units that it will sell of the device.
About Tiger Telematics and Gizmondo
Gizmondo Europe Ltd. is an owned subsidiary of Tiger Telematics Inc (TGTL) and is the maker of Gizmondo, a next-generation mobile entertainment device. Launched in 2004, the gaming device includes built-in music, video, messaging and picture functions and GPS.
Tiger Telematics is a designer, developer and marketer of mobile telematics systems and services that combine global GPS functions and voice recognition technology to locate and track vehicles and people down to street level in countries throughout the world. The systems are designed to operate on GPS and are currently being marketed to GSM current and potential subscribers, primarily by the company's United Kingdom based subsidiaries.
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Except for historical matters contained herein, the matters discussed in this press release are forward-looking and are made pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that these forward-looking statements reflect numerous assumptions and involve risks and uncertainties that may affect Tiger Telematics, Inc. and its subsidiary businesses and prospects and cause actual results to differ materially from these forward-looking statements. Among the factors that could cause actual results to differ are Tiger Telematics Inc.'s operating history; competition; low barriers to entry; reliance on strategic relationships; rapid technological changes; inability to complete transactions on favourable terms; the schedule and sell-through for new software release; consumer demand for video game hardware and software; the timing of the introduction of new generation competitive hardware systems, pricing changes by key vendors for hardware and software and the timing of any such changes, and the adequacy of supplies of new software product and those risks discussed in the Company's filings with the SEC.
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