Cool Entertainment updates Shareholders on Development Status.Business/Technology Editors BELLEVUE, Wash.--(BUSINESS WIRE)--Dec. 21, 1999 Cool Entertainment Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: CULE) is pleased to Announce the completion of 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's development for Cool's e-commerce solution. Cool Entertainment will be rigorously testing and expect to be accepting on-line transactions in January 2000, in conjunction with distribution partner Valley Media (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : VMIX - news) and content provider Muze Inc. "Cool Entertainment would like to thank IBM Canada (NYSE NYSE See: New York Stock Exchange : IBM - news) for the on-going work they are putting into the development of Cool's e-business solution. " says Clement Lau, Cool Entertainment President and 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. . "The company would also like to thank the Shareholders for their long term support of the project." Cool has recently launched their first on-line interactive game "The Adventures of Pengui", which is a pilot of the on-line entertainment components the company will be providing. Other forms of entertainment are planned and will be included in future releases. Valley Media Valley Media is a recognized leader in full-line entertainment wholesale distribution, Internet retail fulfillment, independent music distribution and proprietary database products and publications. Valley Media operates facilities in seven states with primary distribution centers in Louisville, KY and Woodland, CA. Valley Media has also been awarded the National Association of Record Merchandisers 1998 Wholesaler of The Year Award for its sixth consecutive year as an industry leader. Muze Inc. Muze Inc. (www.muze.com), established in 1991, is an organization dedicated to enhancing enjoyment from entertainment. Today, Muze is an undisputed market leader for a source of data and editorial content about music, books, and video. Muze information solutions can be found in more than 14,000 retail locations, where they enhance commercial activity for leading chain and independent retailers, and on over 60 on-line shopping sites, fueling the interactive on-line revolution in retail entertainment. Cool Entertainment Cool Entertainment is a comprehensive, entertainment retail website, which will be offering a wide range of products including CDs, DVDs, videos, video games See video game console. . The website will also contain value-added services including online games, and free e-mail See Internet e-mail service. accounts and other entertainment. Cool 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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