Canadian Niagara Group Secures License to Develop First Marvel-Inspired 'Retail-Tainment' Site at Niagara Falls Number One Entertainment Destination.Business Editors NEW YORK--(BUSINESS WIRE)--March 5, 2003 Marvel's Adventure City Unique Venture Reaching 12 Million Yearly Visitors To Include Attraction-Based Rides And Exclusive Merchandise Featuring Marvel's Most Popular Super Heroes(TM) Hot off the heels of Marvel's most recent record-breaking blockbuster success, 20th Century Fox's Daredevil, the Canadian Niagara Group has announced plans to launch the world's first "retail-tainment" destination based on the world-famous Marvel The original code name for Microsoft Network. comic book comic book Bound collection of comic strips, usually in chronological sequence, typically telling a single story or a series of different stories. The first true comic books were marketed in 1933 as giveaway advertising premiums. characters -- Marvel's Adventure City. The site, scheduled to open at the 20-acre Falls Avenue Complex in Niagara Falls Niagara Falls, waterfall, United States and Canada Niagara Falls, in the Niagara River, W N.Y. and S Ont., Canada; one of the most famous spectacles in North America. The falls are on the international line between the cities of Niagara Falls, N.Y. , May 2003, coincides with a summer Marvel movie charge led by the highly anticipated sequel to 20th Century Fox's The X-Men (May 2, 2003) as well as the debut of Marvel's next movie franchise, Universal Studios' The Hulk (June 20, 2003). For the project, Marvel Enterprises, Inc. (NYSE NYSE See: New York Stock Exchange : MVL MVL Multiple-Valued Logic MVL Multiple Virtual Line MVL Montavista Linux MVL Moshannon Valley League (Pennsylvania high school baseball) MVL Mercury Vapor Light MVL Minimum Vector Length MVL Musikverein Lustenau ) has licensed its core super heroes to Canadian Niagara Group who will be responsible for all financing and construction costs for the approximately 30,000 square foot structure. Marvel's Adventure City will feature attraction-based rides and games as well as a retail center containing exclusive Marvel merchandise. The retail-tainment facility will be the cornerstone attraction at Niagara Falls' only entertainment destination, which is visited by 12 million tourists per year. "I believe this is the first retail-tainment site of its kind," said Paul Gitter, Vice President Consumer Products/Retail Development for Marvel Enterprises, Inc., "Never before has there been a branded destination that combines the interactive entertainment of a theme park with merchandise of a fine retail store in a moderately sized location at such a low cost to the consumer. Marvel's Adventure City extends the Marvel brand to the retail level and offers consumers a complete Marvel experience from the moment they enter the location until the time that they leave." Marvel's Adventure City is being created by Forrec, the same company that designed LEGOLAND and Marvel's popular Super Hero Island at Universal Studios Orlando Theme Park's Islands of Adventure -- where the Marvel themed rides consistently rank among the top-rated attractions. The design will resemble a virtual Marvel Universe highlighted by rides and attractions featuring some of the Company's best known super heroes including: Spider-Man(TM), The Incredible Hulk(TM), The X-Men(TM) and the newly introduced pre-school property Spider-Man and Friends(TM). About Canadian Niagara Group Canadian Niagara Hotels and Entertainment is a wholly owned Canadian company operating the Falls Avenue destination in Niagara Falls, Canada. Its hotels include the Sheraton on the Falls, Brock brock n. Chiefly British A badger. [Middle English brok, from Old English broc, of Celtic origin.] Plaza, Skyline Inn and Hampton Inn at the Falls. About Marvel Enterprises Marvel Enterprises, Inc. is leading global character-based entertainment company that has developed and owns a library of over 4,700 characters which have entertained generations around the world for over 60 years. Marvel's operations are focused in entertainment and consumer product licensing and comic book publishing. Marvel's creative teams support the development of feature films (and DVD/home video); video games See video game console. , TV series and toy lines toy line n. Chiefly Southern U.S. The line used in a game of marbles. based on its characters, and Marvel licenses its characters for a broad and growing range of consumer products and services including apparel, collectibles, foods and promotions. Marvel's comic book division is a leading publisher in the global marketplace while also serving as an invaluable source of intellectual property. Marvel's Toy Biz division is a recognized creative force and leader in toy design, sales and marketing, developing and overseeing both licensee licensee n. a person given a license by government or under private agreement. (See: license, licensor) LICENSEE. One to whom a license has been given. 1 M. Q. & S. 699 n. and in-house toy lines. For additional information visit http://www.marvel.com. Except for historical information contained herein, the statements in this news release regarding the Company's plans are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are dependent upon certain risks and uncertainties, including the Company's potential inability to successfully implement its business strategy, a decrease in the level of media exposure or popularity of the Company's characters resulting in declining revenues from products based on those characters, the timing of releases and the decisions to proceed with feature films and TV series based on the Company's characters, the lack of commercial success of entertainment projects based on the Company's characters, the lack of commercial success of properties owned by major entertainment companies that have granted the Company toy licenses, the lack of consumer acceptance of new product introductions, the imposition of quotas or tariffs on toys manufactured in China as a result of a deterioration de·te·ri·o·ra·tion n. The process or condition of becoming worse. in trade relations between the U.S. and China, changing consumer preferences, production delays or shortfalls, continued pressure by certain of the Company's major retail customers to significantly reduce their toy inventory levels, the impact of competition and changes to the competitive environment on the Company's products and services, the ability of the Company's licensees to successfully market and sell the licensed products, changes in technology and changes in governmental regulation and the continued financial stability of major licensees of the Company. Those and other risks and uncertainties are described in the Offer to Exchange and in the Company's other filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , Quarterly Reports on Form 10-Q Form 10-Q See 10-Q. and Current Reports on Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. . Marvel assumes no obligation to publicly update or revise any forward-looking statements. For More Information and/or Artwork Please Contact: Jeffrey Klein Jeffrey David Klein (born in the Bronx, New York on July 10, 1960) is a New York State Senator representing parts of Bronx County and Westchester County. He was elected to his first term in the Senate in 2004 after being advised to run for the seat by Democratic colleagues, who , Adam Fenton, Brian Reinert BENDER HELPER IMPACT 212-689-6360 jeff_klein@bhimpact.com adam_fenton@bhimpact.com brian_reinert@bhimpact.com |
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