Interactive Magic to Hold 'Live' Internet Press Conference; Company to Discuss Internet Community Strategy and Acquisition Plans.
"Interactive Magic has changed its primary strategy of combined CD-ROM and Internet activities, to a strategy based solely on its expertise and efforts in providing Internet Entertainment communities. Our WarBirds community is one of the strongest communities on the Internet and is comprised of tens of thousands of members from over 70 countries that gather to fly historical WWII aircraft together on the Internet. This community has developed over 250 individual "Squadrons," generated hundreds of WarBirds websites, and thousands of hours of Internet discussions each month of the year. The average WarBirds community member spends over 35 hours per month on WarBirds activities," says Interactive Magic's Chairman, J.W. Stealey. "WarBirds is the largest of Interactive Magic's communities. Other I-Magic Internet entertainment communities include, Dawn Of Aces, a WWI flying community, Drakkar, a role playing community, and a mass market community of players who play products such as Bingo and five other mass market Casino games. I-Magic plans on introducing at least 15 more products in the next few months, each of which will build its own Internet community. We will outline this entire new strategy at our "live" audio press conference on Thursday, June 3rd at 9:00 AM, EST."
Interactive Magic's Internet Community Strategy is based on the ICONS Internet Community Management software system that is one of the most sophisticated Internet Entertainment Community systems on the Internet today. ICONS provides chat, email, game launching capabilities, advertising, e- commerce, subscription activation, and complete database management for billing and marketing purposes. This system allows Interactive Magic to build Internet communities around each of its many Internet entertainment products.
Interactive Magic builds revenue from its Internet Community Strategy through subscriptions, pay-to-play games, advertising, e-commerce, and software system sales. Since launching this Internet strategy in early 1999, Interactive Magic has seen its unique visitor count grow from only 50,000 visitors per month at its community sites to over 500,000 unique visitors per month. Interactive Magic's advertising impressions have grown from nothing to over 12 million impressions per month in just four months (by April 1999).
"The Thursday, June 3rd 1999, "live" press conference will allow us to outline our Internet Community Management strategy, to discuss our Internet acquisition plans, to review our CD-ROM divestiture activities, to review the revenue growth from new products, to discuss our greatly strengthened balance
sheet, and to outline our break even expectations for our Internet Entertainment Community Management company. We believe that Interactive
Magic is greatly undervalued as an Internet Entertainment Community company, and this is the first in a series of steps to identify that value to potential investors. We invite all interested investors to participate in this press conference," said Interactive Magic Chairman, J.W. Stealey.
About Interactive Magic
Interactive Magic was founded in 1994 and became publicly traded on the Nasdaq exchange in 1998. Interactive Magic is a leading provider of Internet Entertainment Communities including iMagic Entertainment Network or iEN (www.imagicgames.com ) and GameHub (www.gamehub.net ) the preferred provider of online games for AT&T WorldNet's 1.7 million customers. Interactive Magic has strategic or OEM bundling arrangements with numerous companies including AT&T (NYSE: T), America Online (NYSE: AOL), Earthlink, Columbia House, Software-Of-The-Month Club, Diamond Multimedia, Thrustmaster, CH Products and Logitech. For Investor Relations information please contact Nancy Campbell at Dewe Rogerson (212)-688-6840 or firstname.lastname@example.org .
Forward-Looking Statements: Except for the descriptions of historical facts contained herein, statements in this news release concerning future results, performance or expectations are forward-looking statements. Actual results, performance or developments could differ materially from those expressed or implied by such forward-looking statements as a result of known or unknown risks, uncertainties and other factors including those described from time to time in the company's filings with the Securities and Exchange Commission, under "Risk Factors" and elsewhere, including risks of delays in development and introduction of new products, dependence on new product introductions which achieve significant market acceptance and the uncertainties of consumer preferences, the rate and degree of market acceptance of online gaming, the ability to negotiate profitable terms for online gaming products and services, dependence on third party software developers for significant portion of new products, risks of rapid technological change and platform changes, intense competition, seasonality, dependence upon third party distribution and risks associated with international business and other risks.
iMagic Entertainment Network, iEN and GameHub are trademarks and Interactive Magic is a registered trademark of Interactive Magic, Inc. All other trademarks are property of their respective owners. Copyright 1999 Interactive Magic, Inc. All rights reserved.
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|Date:||Jun 1, 1999|
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