Princeton Video Image, Inc. Announces New Licensee for Spain and Portugal; Recent Grant of Patent Creates European Opportunity.LAWRENCEVILLE, N.J.--(BUSINESS WIRE)--Sept. 22, 1999-- Princeton Video Image, 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 : PVII; http://www.pvi-inc.com), the leader in virtual advertising and imaging solutions for television, today announced the signing of Sistemas de Publicidad Virtual, S.L. of Madrid as the exclusive PVI See Present Value Index. licensee for Spain and Portugal. Sistemas de Publicidad Virtual, S.L., ("SPV SPV sheeppox virus. ") was recently formed to develop all of PVI's virtual insertion business in Spain and Portugal, including postproduction and virtual insertions in sports broadcasts. The principal shareholder in SPV is Mr. Richard Golding, a resident of Madrid, who as Managing Director and Chief Executive Officer of Dorna Promocion del Deporte, S.A. created the rotating signboard sign·board n. A board bearing a sign. signboard Noun a board carrying a sign or notice, often to advertise a business or product Noun 1. business worldwide. Richard Golding has previously been Marketing Director for Cadbury-Schweppes in Spain and President for Southern Europe Southern Europe or sometimes Mediterranean Europe is a region of the European continent. There is no clear definition of the term which can vary depending on whether geographic, cultural, linguistic or historical factors are taken into account. of R.J.Reynolds Nabisco. Currently, Mr. Golding is the Managing Director and Chief Executive Officer of ASPRO ASPRO Associative Parallel Processor -OCIO, Spain's leading water park owner and operator. Mr. Dennis Wilkinson, President and Chief Executive Officer of PVI, Inc., stated, "We are particularly delighted to reach an agreement with Richard to become our partner for the Iberian Peninsula Iberian Peninsula, c.230,400 sq mi (596,740 sq km), SW Europe, separated from the rest of Europe by the Pyrenees. Comprising Spain and Portugal, it is washed on the N and W by the Atlantic Ocean and on the S and E by the Mediterranean Sea; the Strait of Gibraltar . Richard brings unique qualifications to this partnership as a result of his experience in the worldwide development of Dorna as well as his numerous contacts throughout Europe. We are optimistic that his participation in our European virtual image insertion business will produce a strong positive impact on our operations worldwide." Commenting on the agreement, Mr. Richard Golding said, "I have followed PVI for a number of years and it has been clear that this remarkable technology has created the opportunity for a successful business. Now that the European Patent Office has granted PVI the basic patent underlying the PVI technology, the time is now right to exploit the business opportunity the technology created. Sistemas de Publicidad Virtual is headquartered in Madrid and is managed by Patricio Pan de Soraluce, General Manager. Mr. Pan de Soraluce has worked with Mr. Golding for a number of years in Dorna and Insport, previously having worked in a number of key Marketing positions with multinationals. Princeton Video Image, Inc. has developed and is marketing a real-time video insertion system that, through patented pattern recognition technology, places computer-generated electronic images into television broadcasts of sporting events as well as other programming. These electronic images range from simple corporate names and logos to sophisticated 3-D images and animated effects. PVI has provided video insertion services for over 1,200 live telecasts worldwide, including broadcasts of Major League Baseball "MLB" and "Major Leagues" redirect here. For other uses, see MLB (disambiguation) and Major Leagues (disambiguation). Major League Baseball (MLB) is the highest level of play in North American professional baseball. , National League Football, professional soccer, motorsports, and other live events. The Company is headquartered in Lawrenceville, New Jersey Lawrenceville is a census-designated place and unincorporated area located within Lawrence Township in Mercer County, New Jersey. As of the United States 2000 Census, the CDP population was 4,081. Lawrenceville is located roughly halfway between Princeton and Trenton. , with offices in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. and Brussels, with licensees' offices in Mexico City, Johannesburg and Madrid. Any statements contained in this press release that relate to future plans, events or performance are forward-looking statements that involve risks and uncertainties including, but not limited to, those relating to market acceptance, dependence on strategic partners and third party sales, contractual restraints on use of PVI's technology, a rapidly changing commercial and technological environment, competition, possible adverse regulations, need for additional financing, intellectual property rights and litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , and other risks identified in PVI's filings with the Securities and Exchange Commission. Actual results, events or performance may differ materially. PVI undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events. |
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