NEW YORK, March 4, 2004 (PRIMEZONE) -- Cyper Media, Inc. ("Cyper") (OTCBB:CYPM) is pleased to announce that the Company has signed a new co-production agreement for the animation project "OMRoid" with Animedia Dot Com, Inc. ("Animedia"). This announcement is an update to a previous press release from November 2003 which described the initial letter of intent and memorandum of understanding.
The contents of the co-production agreement include, financing breakdown, income sharing between Cyper and Animedia and Management of Rights for all aspects of the program including merchandising. The duration of the shared intellectual property rights inure to 2014. Per the agreement, Cyper and Animedia will produce 52 episodes for 2 seasons, equating to 26 episodes per season. Animedia will handle pre and post production while Cyper will work on the main production components.
The Companies plan to finance the full production of the OMRoid series through traditional television financing including equity, grants, licensing and pre-sales to the global television markets. The OMRoid animated television series is based on familiar, successfully merchandised characters which sold over 10 Million toy units in Asia during the past 10 years. Animedia estimates the worldwide market for OMRoid over a 10 year period could approach USD $700 million from TV broadcasting, DVD/Video sales, video/console game market and merchandising based upon their projections. Currently, Cyper is also developing the OMRoid on-line game and hopes to have it released at the start of the TV broadcast of its second season.
Duk Jin Jang, CEO of Cyper commented, "This co-production agreement is an important step forward in defining the roles for Cyper and Animedia. We feel that OMRoid has the potential to make a significant impact on the animation market for children and teens and we look forward to having OMRoid in full production." He added, "Our proprietary content forms the foundation for our Company's future growth. Our low cost of production, award winning world-class animation and OEM distribution agreements should insure us a leading position in the ever expanding market for animated content."
About Animedia
Animedia is an animation company located in Tokyo Japan. Animedia develops and produces TV and feature film animation, merchandising and marketing.
About Cyper Media
Cyper (http://www.cypermedia.com) is a 2D/3D digital animation production company, producing its own proprietary content and providing services to the television, commercial and film industries globally. The Company develops and produces 2D and 3D digital animation for television, Original Video Animation, short films, 2D and CGI feature films, music videos and multi-media applications such as video games. Cyper intends to acquire business opportunities to build revenues while building a library of quality movies and TV series. Current Projects include, ``The 5th Glacial Epoch,'' a full-length feature film with a distribution LOI signed by MGM and "OMRoid", a TV animated series that has already sold over 10,000,000 toy items. In addition, Cyper is negotiating to produce ``Hobie & Chewby'', a 26-episode proprietary TV show and two additional animated TV series, ``Kollang'' and ``Q-Pet.''
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