Cool Entertainment Turns Up the Volume With IBM's E-Commerce Solutions.BELLEVUE, Wash.--(BUSINESS WIRE)--July 29, 1999-- Cool Entertainment, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :BB-CULE) announced today that they are ready to turn up the volume by working with IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) Canada Ltd. (NYSE-IBM) who will be providing e-commerce solutions and business planning expertise to help Cool Entertainment sell entertainment products on the web. "Because our aim is to provide the best and most secure e-commerce solutions to our customers, it was an obvious choice to select IBM to handle this vital part of our business," says Clement Lau, Cool's President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "E-business is an integral part of what we do and IBM has all the capabilities that are key elements to the success of our business. With IBM we expect to take full advantage of the emerging worldwide multi-billion dollar entertainment industry that is evident in the success of other music platforms such as Liquid Audio, Inc. (Nasdaq-LQID), MP3.com, Inc. (Nasdaq-MPPP), and Musicmaker.com, Inc. (Nasdaq-HITS)." "We are very excited that IBM will be deploying the final stage of development at our website," continues Lau. "IBM, a globally recognized and trusted company, will also provide us with strategic planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. under our agreement as we continue to grow. Cool is on the fast track to becoming a true Internet and entertainment retail leader worldwide. We also feel that, like Digital River (Nasdaq-DRIV), Valley Media (Nasdaq-VMIX), and Muze, we are all in the right business niche at the right time. We are entering the current boom in Internet music and entertainment retailers. Quite frankly, we are all taking part in what I would call a digital music revolution." Cool Entertainment is a comprehensive, entertainment retail website, which will be offering a wide range of products including books, CDs, DVDs, videos, video games See video game console. and software. The website will also contain value-added services including celebrity interviews, book reviews, online chat rooms, online games, and free e-mail See Internet e-mail service. accounts. Cool's management is currently exploring additional distribution networks in Europe, Asia, Australia and Latin America. This press release may contain forward-looking statements made pursuant to the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, subscriber growth, product demand, competition, and other risks and uncertainties detailed from time to time in the Company's periodic reports. |
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