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Velocity International Corp. Plans to Enter Agreements For the Acquisition of Three Model - Talent - Digital Agencies TORONTO --(Business Wire)-- Nov. 18, 2004 -- On an Annualized Basis, Management Estimates the Revenue Contribution from the Three Proposed Acquisitions to Be $12 MillionVelocity International Corp. "VELOCITY," "(VITJ)," or the "Company," today announced that it plans to enter into agreements with three model - entertainment agencies in Eastern Europe. Pursuant to the terms of the Agreements, Velocity will have 60 days to complete its due diligence investigation of the three agencies and conclude the acquisitions. On an annualized basis, management estimates the revenue contribution from the three acquisitions to be $12 million. "We are certainly very pleased to be preparing three letters of intent and moving forward with our acquisition goals," said Velocity's President. These agencies may provide significant revenues and profits. We have been aggressively seeking companies and are very pleased to have found three potential acquisitions in the Ukraine, as they are a perfect fit," he added. Velocity is preparing to open an office in the Ukraine in order offer its services directly to Eastern Europe. The Company recently began interviewing prospective Eastern European joint venture partners. Velocity's global talent division intends to focus on representing new talent and acquiring operating talent and modeling agencies. Velocity believes that the new Super Models and Role-Models for women are new talent such as the blonde 17-year-old Russian goddess Maria Sharapova. Maria Sharapova graced the cover of Sports Illustrated July 4th issue celebrating with other Wimbledon winners. Maria has already been photographed for Gucci, Chanel and DKNY and she has signed contracts with Nike and Prince Racquets. Maria Sharapova appeared on the cover of Vogue magazine's August issue. Sharapova's spokesman at IMG Max Eisenbud said: "She loves fashion......Sometimes I think she will be spending most of her time on the catwalk, not on tennis courts." Mark Jacobs....."believes Maria Sharapova is a perfect face for Louis Vuitton, because she is not a commonplace beauty girl." Velocity has been negotiating with the International Alliance of Model Agencies -- M.A.M.A. www.mama.artsite.ru (to translate the website please utilize http://babelfish.altavista.com/). Presently, M.A.M.A. is composed of 31 agencies from Russia, two from Kazakhstan and Ukraine, one from Uzbekistan, Kyrgystana, Moldovy, Belarus', Estonia, and Latvia. About Velocity International Corp. - www.VelocityIntCorp.com Velocity International Corp. ("VELOCITY," "VITJ," or the "Company") is a publicly traded development stage company created to acquire operating talent and modeling agencies along with acquiring existing technology service companies supporting the professional and amateur talent and modeling agencies, professional and amateur athletes, designers, creative professionals and support entertainment industry professionals. Ultimately, the company intends to provide one-stop solutions and services that address the needs of the fashion and entertainment production client throughout the world. Safe Harbor Statement: This information includes certain "forward-looking statements." The forward-looking statements reflect the beliefs, expectations, objectives, and goals of Velocity International Corp. management with respect to future events and financial performance. They are based on assumptions and estimates, which are believed reasonable at the time such statements are made. However, actual results could differ materially from anticipated results. Important factors that may impact actual results include, but are not limited to commodity prices, political developments, legal decisions, market and economic conditions, industry competition, the weather, changes in financial markets and changing legislation and regulations. Matters discussed in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in any reports filed by the Company. Forward-looking statements are intended to qualify for the safe harbor provisions of Section 21E of the Securities and Exchange Act of 1934, as amended. |
