Xbox Developer Tremor Entertainment Completes Merger With New Systems, Inc. and Tremor Games, Inc.Business & Entertainment Editors/High-Tech Writers BURBANK, Calif.--(BUSINESS WIRE)--Dec. 24, 2001 Burbank, CA based video game software developer Tremor Entertainment, Inc., announced today that its merger with New Systems, Inc. has been declared effective by the State of California and is now actively trading under its new symbol TROR TROR Treasury Report on Receivables (US Treasury Dept) (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :TROR). "With the process of becoming a public company complete, we can now focus our full attention on the next phase of our growth plans," stated Steven Oshinsky, Chairman, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Tremor Entertainment. "We are now actively seeking a secondary financing to fund the creation of additional properties for Xbox and other platforms. The highly successful launch of Xbox from Microsoft Corporation (Nasdaq:MSFT MSFT Microsoft (stock symbol) MSFT Movimento Sociale Fiamma Tricolore (Italy) MSFT Multi-Stage Fitness Test MSFT Master of Science in Family Therapy MSFT Macalester Students for Fair Trade ) has made it clear that demand for experienced developers is a strong and growing trend. We intend to capitalize on that trend. In addition to developing our own intellectual properties, we also seek to grow the company via the acquisition of talented artists and programmers from the fragmented development community. We expect an upsurge in interest from the major publishers seeking to acquire new and exciting games and we are preparing for that." About Tremor Entertainment: Tremor was founded in 1998 and has developed games for Sega Dreamcast, Sony Playstation II. Its core creative team developed the mega hits Starcraft, Warcraft and Diablo for Blizzard Entertainment, a company subsequently acquired by Vivendi Universal Publishing, (NYSE NYSE See: New York Stock Exchange :V). Tremor also employs key talent from Return to Castle Wolfenstein Return to Castle Wolfenstein (PC) is a first person shooter computer game published by Activision and originally released on November 19, 2001. The single player game was developed by Gray Matter Interactive and Nerve Software developed its multiplayer mode. , Redneck Rampage and Kingpin. Tremor is currently under contract with Microsoft Corporation to create an original title for the Xbox. The game is currently scheduled for release for the Holiday 2002 season. Further details can be found on our website located at http://www.Tremor.net This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 (the "Act"). In particular, when used in the preceding discussion, the words plans, believe, 'expect, and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the 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 the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, the availability of capital and the successful production of the Company's products, general acceptance of the Company's products and technologies, competitive factors, timing, and other risks described in the Company's SEC reports and filings. |
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