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Powerlock International Corp. Retains Entertainment Mogul Jeff Wald for National Product Distribution and Branding with National Retail Automotive Chains
COSTA MESA, Calif. --(Business Wire)-- June 4, 2006 -- Powerlock International Corp. (Pink Sheets: PWLK) is pleased to announce an alliance with Jeff Wald Entertainment Inc. to increase brand awareness and add major national distribution channels for the Power Lock anti-theft device.
Rick Fass, president of Powerlock International Corp., stated, "We are thrilled to get Mr. Wald on board. His existing relationship with national automotive chain AAMCO Transmissions, in addition to his fundamental understanding of celebrity and product placement, make him the perfect guy to aggressively brand 'Power Lock' on a national basis!"
Powerlock International Corp. (www.powerlock.com) specializes in vehicle anti-theft devices that cannot be bypassed by electrical means (hot-wiring) or removed. Powerlock is the only patent-protected anti-theft device on the market today that is 100% foolproof against auto theft by hot-wiring of the vehicle. They are installed inside the vehicle's starter to render it 100% immobile in the event of a theft attempt. Powerlock is 100% guaranteed to work. Nine out of 10 stolen cars are hot-wired and driven away. Mechanical devices such as steering wheel bars and pedal locks, and GPS anti-theft devices, including LoJack and OnStar, are only a minor inconvenience for the professional car thieves. Car alarms can be hot-wired because the professional thief simply cuts or jumps the alarm wires and he is gone. Tracking devices used by police to locate stolen cars do not stop the vehicle from being hot-wired, driven away, and dismantled at chop shops before they are even reported stolen.
Jeff Wald has been a powerful and innovative force in the entertainment industry since 1963. He has managed some of the world's most successful careers in show business including Sylvester Stallone, Roseanne, Helen Reddy, Marvin Gaye, Paul Rodriguez, Crosby, Stills & Nash, George Carlin, Donna Summer, Chicago, Clint Black, James Brolin and heavyweight world champion Mike Tyson. Wald was president of television and management at Guber-Peters Entertainment Co. and has been the executive producer of various hit television series. Currently he is the co-executive producer of NBC's prime-time series "The Contender," where he is partnered with Jeffrey Katzenberg, Mark Burnett, Stallone, and Sugar Ray Leonard, starting its new season on ESPN.
Wald stated: "It is almost a guaranteed shoe-in to obtain product placement for Powerlock with a national retail chain when a major celebrity spokesperson is endorsing a product as innovative as Power Lock. I have seen this proven time and time again. Products will immediately become a household name of choice when endorsed by a well-known celebrity. I also plan to open the doors for Powerlock and present its 'proprietary patent-protected technology' to all major automobile manufacturers, such as Ford Motor Co., Chrysler and other major auto manufacturers to incorporate Power Lock as an OEM (originally engineered manufacturing) product by immediately pursuing these avenues as well."
Wald is currently in the process of making a major deal with AAMCO Transmissions to test market Powerlock's anti-theft device in 31 of its 1,300 combined national franchised stores. Wald originally orchestrated the six-year contract with AAMCO Corp. to use actor James Brolin, a Wald Entertainment client, as their national spokesperson. The president of AAMCO Dealers' Association, Mike Gangei, stated in an e-mail to Wald he is working on a regional roll out in the cities of Baltimore and Washington consisting of 31 AAMCO dealers in that region. Additionally, Wald is currently in active negotiations to secure another major celebrity spokesperson for Powerlock to film TV and radio commercials for the Power Lock as he did previously for AAMCO.
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown 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. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "expects," "intends," "anticipates," "will," or "plans" to be uncertain and forward looking.
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