JACKSONVILLE, FL - October 18, 2004: Tiger Telematics (other OTC: TGTL) parent company of Gizmondo Europe Ltd, maker of Gizmondo, a next-generation mobile entertainment device, today announced an agreement with leading retail distribution provider Ditan Corporation. Ditan will provide the inventory management and physical distribution of Gizmondo products to the USA retail market.
The heads of agreement became effective October 2004 and currently covers physical distribution in excess of 1.8 million units (hardware, software and the accessories range) and clients include all main USA retailers.
"The best thing we can do for our customers is to execute logistics management and supply-chain strategies flawlessly, so that our customers, like Gizmondo, can focus on what they do best - innovating the gaming market with new, exciting consumer electronics products," said William Hecksteden, Chief Logistics Officer of Ditan Corporation. "We're proud to have been chosen by a world innovator like Gizmondo to play a role in bringing their products to market."
Jamie Robertson, Head of Sales, Gizmondo Europe Ltd says: "Ditan fulfills the Gizmondo brief excellently. Their logistics model generates cost savings and competitive advantages, and most crucially it gets us 'to market' seamlessly and with nationwide capacity."
The deal further strengthens Gizmondo's sales infrastructure in North American markets. Sales and account management will be provided by Redline Marketing and Tartan Sales with Ditan providing the delivery and support of physical products to US retailers.
Speaking of the deal, Todd Harris, President of Tartan Sales, says: "Ditan has numerous distribution centers and virtual warehouses within North America. They can ship Gizmondo products to 98% of the continental United States within two days."
And Dave Arundel, President of Redline Marketing, says: "It is an excellent choice. Ditan provides Gizmondo with the speed to supply hot spots and first-class logistics to properly manage inventory."
The Gizmondo is powered by a Microsoft Windows CE.net platform, boasting a 2.8-inch TFT color screen with a Samsung ARM9 400Mhz processor incorporating the NVIDEA GoForce 3D 4500 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 MMC card accessories.
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. Set to launch 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.
Ditan Corporation is a leading logistics management and retail distribution provider specializing in direct-to-store distribution of innovative, time-sensitive products. Ditan's clients include manufacturers, publishers, major retail chains and distributors. By utilizing state-of-the-art information systems in conjunction with point-of-origin shipping capabilities and retail compliance expertise, Ditan reduces inventories, cuts transportation costs, speeds deliveries, and improves customer service for its customers. For more information, please visit www.ditan.com.
For further information please contact:
Patrik Wallgren, Head of Global Public Relations
+44 7813 647 752
Mike Carrender, CEO
Tiger Telematics, Inc.
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; and those risks discussed in the Company's filings with the SEC.