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E-data Corporation Announces New Settlements.

Business Editors


E-data Corporation (OTC Stock Symbol: EDTA) announced today that it had agreed to proposed settlements of their patent infringement lawsuit with the five remaining defendants in its ongoing case in the Southern District of New York (SDNY). This suit, which resulted in a very favorable holding on claim construction by the Court of Appeals for the Federal Circuit (CAFC), was originally started in the SDNY in 1995. The case is titled, "99-1324, INTERACTIVE GIFT EXPRESS, INC. (now known as E-Data Corp.), Plaintiff-Appellant, v. COMPUSERVE INCORPORATED" et al'.

As a result of these settlements, the lawsuit against Compuserv Inc., Telebase Systems Inc., The Library Corp., Intuit Inc. and Internet Shopping Network, concerning U.S. Patent No. 4,528,643 and the corresponding Canadian, UK, and European patents, known as the Freeny Patent, is over. E-data Corporation and all the parties have agreed that the details of these settlement agreements are to remain confidential.

Commenting on this latest development, E-data Corporation President Tibor T. Tallos said, "E-data is very pleased to report that settlements could be reached with these remaining five defendants. This will enable E-data to focus our efforts on aggressively asserting our patent rights in jurisdictions here in the USA, Canada, and in Europe".

About E-data Corporation

E-data Inc. (OTC Stock Symbol: EDTA) owns North American and European patents covering a specific system and method of distributing digital content over electronic and wireless networks. The Company believes that this patent is the basic building block of an emerging global market for information, music, books, films and other products digitally distributed through electronic systems, networks or kiosks, including the Internet. Under its business model, E-data will seek to partner with companies in various markets to leverage its intellectual property rights by practicing as well as licensing its proprietary technology.

Forward Looking Statements

This press release contains forward-looking statements which involve known and unknown risks and uncertainties or other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used herein, the words "may," "could," "estimate," "believes," "anticipates," "thinks," "intends," "will be," "expects" and similar expressions identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Prospective investors are cautioned that forward-looking statements are not guarantees of future performance. Actual events or results may differ from the Company's expectations, which are subject to certain risks and uncertainties, including but not limited to protracted judicial proceedings, growth trends in e-commerce and the ability of the Company to finance its licensing and marketing activities.
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Publication:Business Wire
Geographic Code:1USA
Date:Jan 16, 2003
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