Sony Grants PlayStation 2 Development License to moderngroove.Business Editors, Technology Writers VANCOUVER, B.C.--(BUSINESS WIRE)--Jan. 3, 2001 moderngroove(TM) entertainment, inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :MODG) recently announced it has been granted a license from Sony Computer Entertainment of America to develop interactive entertainment titles for their PlayStation(R) 2 videogame console. "When evaluating potential developers, Sony looks for a high level of innovation coupled with the ability to deliver a great product," said Adrian Crook, executive producer of moderngroove. "Our team is excited to be given the chance to prove as much on the most significant entertainment platform in the world." moderngroove received and set up its first shipment of PlayStation 2 development stations in May, much to the delight of its production team. Virtually all of moderngroove's artists, programmers, and producers spent years honing their craft at Electronic Arts Canada, so the influx of new development stations into the studio is a familiar event. "The PlayStation 2 is a vehicle that will deliver truly interactive entertainment to the home," said Crook, producer and original concept generator on Electronic Arts' Sled Storm Sled Storm is a series of snowmobile racing video games published by Electronic Arts. Sled Storm for Playstation 1 The first game in the Sled Storm series was released on the Playstation video game console. for the Sony PlayStation Sony Playstation - Playstation (over 1,000,000 units sold to date). "It's the unique abilities of the PlayStation 2 -- broadband, DVD DVD: see digital versatile disc. DVD in full digital video disc or digital versatile disc Type of optical disc. The DVD represents the second generation of compact-disc (CD) technology. , USB USB in full Universal Serial Bus Type of serial bus that allows peripheral devices (disks, modems, printers, digitizers, data gloves, etc.) to be easily connected to a computer. -- that attracted moderngroove to the platform. For the first time, pioneering developers can build their dreams without compromise and that's exactly what moderngroove intends to do." moderngroove entertainment, inc. (OTCBB:MODG) is a Nevada corporation A Nevada Corporation is a corporation chartered under the laws of the U.S. state of Nevada. Nevada, like the state of Delaware (See Delaware corporation), is well known as a corporate haven. with studio operations in Vancouver, Canada. moderngroove is a pioneer in the production and delivery of interactive entertainment for next-generation videogame consoles (e.g. Sony PlayStation(R) 2) and personal computers. Founded in July 1999, moderngroove now boasts a staff of over 40 artists, engineers, producers, and business personnel. More information about moderngroove's products and services can be found online at www.moderngroove.com. Sony Computer Entertainment America Inc. markets the PlayStation game console for distribution in North America, develops and publishes software for the PlayStation game console, and manages the U.S. third party licensing program. Based in Foster City, Calif., Sony Computer Entertainment America Inc. is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Sony Computer Entertainment Inc. This press release may contain forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and section 21E of the Exchange Act of 1934 and is subject to 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. created by these sections. Actual results may differ materially due to a number of risks, including technological and operational challenges in consumer preferences and developments affecting the Internet. All trademarks and trade names belong to their respective owners. (c)2000 moderngroove(TM)entertainment, inc. All rights reserved. |
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