Forward Industries Announces Strategic Alliance With CNET.Business/Technology Editors WESTBURY, N.Y.--(BUSINESS WIRE)--April 11, 2000 Forward Industries, Inc. (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 : FORD) today announced the forthcoming launch of a Forward brand store at CNET (body) CNET - Centre national d'Etudes des Telecommunications. The French national telecommunications research centre at Lannion. .com. The Forward store will be located at CNET Auctions (http://auctions.cnet.com) and will offer a broad range of many of the most popular Forward products including "Terrapin terrapin (tĕr`əpĭn), name for several edible turtles of fresh or brackish water. terrapin Any omnivorous aquatic turtle of the family Emydidae, especially the diamondback terrapin (Malaclemys terrapin). " brand laptop computer cases and AQUAPAC(R) waterproof cases for hand-held electronic gear. New products will be added throughout calendar 2000. Formal agreements have been finalized following many months of 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. . More and more consumers are turning to online auctions to purchase technology products, making companion-carrying cases a natural product extension. CNET Auctions provides the millions of technology enthusiasts who gather at CNET each day with the ideal venue for buying and selling products. Forward is also exploring ways to coordinate the sale of its OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and customers' merchandise at CNET Auctions, namely laptop computers, cellular phones, home medical equipment, digital cameras, audio devices and hand-held electronic devices, all of which represent high growth markets. Michael Schiffman, Forward's President and COO, commented, "We are thrilled to be creating a brand store at CNET.com, one of the most well-respected and highly trafficked sites for technology information and products on the Internet. We are working with people we have known for many years, and are confident that there will be positive results from our mutual efforts. This association with CNET is another example of our focus on joining forces with highly established e-commerce specialists, thereby benefiting from their heavy traffic rather than building and promoting our own online retail or auction presence." Mr. Schiffman concluded, "We plan to take full advantage of the rapid growth in online sales of laptop computers and hand-held electronic devices by supplying buyers with cases for these products. A recent report by Keenan Vision Research projects that the value of goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. sold via Internet auction will reach $129 billion in the year 2002. The products available at CNET Auctions should realize a portion of this growth." About CNET Networks, Inc. CNET Networks, Inc. (NASDAQ: CNET) is a leading edge media company, producing a branded Internet network, computer product database and television and radio programming for both consumers and businesses. CNET is the leading authority on computers, the Internet and technology products and services. CNET's network serves millions of users each day. CNET Data Services licenses its multi-lingual product database to more than 40 U.S. and European online computer retailers, resellers and leading e-commerce companies. CNET television programming airs on CNBC CNBC Center for the Neural Basis of Cognition (artificial intelligence) CNBC Consumer News and Business Channel CNBC Congress of National Black Churches, Inc. and in national syndication, as well as nearly 100 foreign countries. In addition to providing television programming to international markets, CNET also produces localized versions of CNET's Web site and services Site and Services is an approach to bringing shelter within the economic reach of the poor. Recognizing that the vast majroity of low income families in the world build their own shelter, which lacks basic hygiene, access and electricity, the strategy was developed. for Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , Singapore, Japan, Korea, China, Taiwan and Australia. CNET Radio airs in the San Francisco Bay Area “Bay Area” redirects here. For other uses, see Bay Area (disambiguation). The San Francisco Bay Area, colloquially known as the Bay Area or The Bay on KNEW 910 AM. CNET currently has investments in cash and marketable securities Marketable Securities Very liquid securities that can be converted into cash quickly at a reasonable price. Notes: Marketable securities are very liquid as they tend to have maturities less than one year, and the rate at which these securities can be bought or sold has that are valued at more than $800 million, including its approximate 12 percent stake in NBC NBC in full National Broadcasting Co. Major U.S. commercial broadcasting company. It was formed in 1926 by RCA Corp., General Electric Co. (GE), and Westinghouse and was the first U.S. company to operate a broadcast network. Internet Inc. About Forward Industries Forward Industries, Inc. designs, manufactures and distributes custom carrying case solutions primarily for cellular phones, laptop computers and home medical equipment. The Company sells its products directly to original equipment manufacturers and recently launched a line of laptop computer cases marketed under the "Terrapin" brand name through mass merchandisers, computer retailers and online at www.onsale.com, www.egghead.com and www.totalcase.com. Forward's products may also be viewed at www.koszegi.com and www.terrapinpc.com. Statements in this press release other than statements of historical fact are "forward-looking statements." Such statements are subject to certain risks and uncertainties, identified from time to time in the Company's filings with the Securities and Exchange Commission that could cause actual results to differ materially from any forward-looking statements. These forward-looking statements represent the Company's judgment as of the date of the release. The Company disclaims, however, any interest or obligations to update these forward-looking statements. |
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