Interactive Network Announces New TWIN Entertainment Board Seats and Liberate Trials.Business Editors/High-Tech Writers SAN JOSE, Calif.--(BUSINESS WIRE)--Sept. 28, 2000 Interactive's Joint Venture With Two Way TV, TWIN Entertainment, Expands Its Board and Joins Leading ITV (1) See interactive TV. (2) (iTV) The code name for Apple's video media hub (see Apple TV). Software Provider To Offer Interactive Content To Television Viewers Bruce Bauer, chairman and president of Interactive Network, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :INNN), today announced the appointment of Richard W. Perkins and Eduard Mayer to the TWIN Entertainment Board of Directors. In making the announcement, Bauer expressed his appreciation and enthusiasm to have these two investment professionals on board to assist the two shareholders of TWIN Entertainment, Interactive Network and its joint venture partner U.K.-based Two Way TV. Bauer added, "Both Two Way TV and Interactive Network have recently financed TWIN with an additional $750,000.00 from each shareholder for a total of $1.5Mn. in funding. As we anticipate and plan for the future financing needs of TWIN to fund its explosive growth in the creation and delivery of leading edge interactive entertainment to North America, we derive great benefit from having the active participation and guidance from these two global investment professionals." Bauer added, "I was very pleased with TWIN and Liberate Technologies' (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 :LBRT LBRT Little Black Rubber Thingy LBRT Low Buck Racing Team ) announced partnership for TWIN to supply interactive games and entertainment to enhanced TV subscribers as part of the PopTV(tm) Variety Pack and with the recent announcement by our largest shareholder, AT&T (NYSE NYSE See: New York Stock Exchange :T), of their selection of the Liberate TV Platform TM. I believe these developments bode well for Interactive Network and TWIN as these two corporate giants will be driving our industry forward and will expedite both the demand and the ability to deliver our game applications to subscribers." About Liberate's POP TV Variety Pack - www.liberatetechnologies.com: The PopTV Variety Pack will serve as the testing ground for the emerging interactive television technology, as TWIN and other world premier content providers join together to deliver compelling services to Liberate customers. These pilots will address the common needs of network operators on the road to delivering enhanced services, and is seen by many as the first step towards introducing interactive content to a nationwide television audience. The PopTV Variety Pack will consist of various content categories including news, sports, weather, finance and shopping, as well as kids, women and education. The TWIN service, which focuses on games and entertainment, will be available to all network operators in the United States that launch interactive TV trials with Liberate. PopTV Variety Pack is available at no cost to Liberate network operator customers. In addition to TWIN Entertainment, current PopTV Variety content providers include Bloomberg, CableSoft, Cars.com, CBS (Cell Broadcast Service) See cell broadcast. Marketwatch.com, eLocal, E! Online, E*Trade, Fogdog fog·dog n. A bright or clear spot that appears in breaking fog. [From the fact that it accompanies fog as a dog accompanies its owner.] .com, Food.com, Fox, Hollywood.com (Nasdaq:HOLL), Lifetime, Lightspan, MXG MXG Maintenance Group MXG Marlborough, Massachusetts MXG Merrill's Expanded Guide (to Computer Performance Evaluation) Online, Net4TV, Oxygen, PBS PBS in full Public Broadcasting Service Private, nonprofit U.S. corporation of public television stations. PBS provides its member stations, which are supported by public funds and private contributions rather than by commercials, with educational, cultural, , Sesame Workshop, Source Media, Tribune Company, The Weather Channel, and What's Hot Now. Content related technology partners include Accelerate TV, AdForce, Extend Media, Intellocity, MassHysteria, MetaTV, Mixed Signals, and RespondTV. All of the above leading broadcast and Internet companies are members of Liberate's PopTV Program. About Richard W. Perkins: He is president of Perkins Capital Management, Inc. and has over 40 years of experience in the investment business. Perkins holds the CFA (Computer Fraud and Abuse Act of 1986) Signed into law in 1986, the CFA was a significant step forward in criminalizing unauthorized access to computer systems and networks. The Act applies to "federal interest computers" that include any system used by the U.S. designation, is a fellow of the Financial Analysts Federation, and has received the Institute of Chartered Financial Analysts Chartered Financial Analyst (CFA) An experienced financial analyst who has passed examinations in economics, financial accounting, portfolio management, security analysis, and standards of conduct given by the Institute of Chartered Financial Analysts. Certificate of Achievement awards. He is also a member of the City Society of Security Analysts. During the late 1960s, he was instrumental at Piper Jaffray, Inc. in establishing one of the first institutional research and sales boutiques for a regional brokerage firm, as well as Piper Jaffray's International Department, to provide investment advice to both domestic and foreign institutions, until starting Perkins Capital Management, Inc. in 1984. He is a director of 10 public and seven private Twin Cities companies. He is also president of the Perkins Foundation. About Eduard Mayer: Mayer has been a member of the Interactive Network Advisory Board since July 1999. Mayer is a private investor based in London. He was the former president of Acorn Capital Management, manager of BG Acorn Capital Fund, manager of FESA FESA Fire and Emergency Services Authority (Australia) FESA Federal Endangered Species Act FESA Facilities Engineering Support Agency FESA Facilities Engineering Support Activity Enterprise Venture Capital Fund of Canada Ltd., which specialized in strategic investment and strategic business growth. Mayer has been involved in the formation and development of many companies and sits on the boards of a number private and public companies. About Interactive Network Inc. (OTCBB:INNN) www.interactivenetwork.net INNN was incorporated in 1986 and has been publicly traded since 1991. It helped pioneer and introduce interactive TV technology by providing an interactive service to six major cities in the mid '90s. Shows made interactive included sporting events, game shows, murder mysteries, soap operas, educational and children's programs, news broadcasts, and many TV specials. Its major corporate shareholders are AT&T (NYSE:T, news, msgs, through TCI (Trustworthy Computing Initiative) An umbrella term from Microsoft for its efforts to improve security in Windows. TCI was announced in 2002 after viruses such as Code Red and Nimda had succeeded in attacking numerous Windows computers. ), Motorola Inc. (MOT), General Electric Inc. (NYSE:GE, news, msgs, through 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. ), Sprint (FON Fon People of southern Benin and adjacent parts of Togo. They speak a dialect of Gbe, a Kwa language of the Niger-Congo language family. Numbering about 3 million, the Fon are mainly farmers. ), Gannett (GCI GCI Ground Circuit Interrupter GCI Getty Conservation Institute GCI Global Commerce Initiative GCI Green Cross International (non-profit international environmental organization) GCI Growth Competitiveness Index GCI Great Cities Institute ) and A.C. Nielsen. About TWIN Entertainment - www.twinentertainment.com TWIN Entertainment is a joint venture between Interactive Network, Inc. and Two Way TV to bring live competitive interactive TV games to the U.S. and Canadian markets. The joint venture will exploit Interactive Network's significant patent portfolio and Two Way TV's leading edge content, productions systems, operating platform and patents for digital interactive services. TWIN Entertainment is presently building its management team while actively pursuing partnerships to produce live interactive TV entertainment for distribution on digital satellite, cable, and broadband Internet platforms. Blue Sky This release contains forward-looking statements that are subject to risks and uncertainties. Although Interactive Network Inc. and Two Way TV believe that the expectations reflected in its forward-looking statements are reasonable, actual results could differ materially from those expectations. Important cautionary statements and risk factors that would affect actual results are discussed in materials filed by INNN with the Securities and Exchange Commission. |
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