TORRANCE, Calif., Aug. 5, 2002 (PRIMEZONE) -- Nova Communications Ltd. (OTCBB:NCVM) announced today a new venture partnership with Consumer Promotions, Inc. to market the innovative Cashable Voucher Program(tm) to merchants and consumers, starting on the West Coast, then nationwide.
This innovative program allows product promoters to offer Cashable Vouchers that consumers can redeem by mail for a refund three years after the promotion. The amount of the refund is determined by the product promoters, up to 100% of the purchase price.
The Cashable Voucher Program was successfully introduced in Europe in 1992 and Consumer Promotions, Inc. is the first company to introduce Cashable Vouchers in the United States. Consumer Promotions, Inc. owns exclusive rights in the U.S. for the Cashable Voucher Program(tm).
According to Jim Rigsby, President of Consumer Promotions, Inc., "The Cashable Voucher Program(tm) is the most powerful and cost-effective sales promotion incentive that has ever existed!"
For example, a DVD or video game manufacturer could offer, as a sales incentive, a Cashable Voucher that can be redeemed in 36 months for 100% of the consumer's purchase price of the new DVD or video game. Participating merchants and promoters contribute a small part of the original purchase price, which goes into a trust account. The Consumers Trust is administered by an insured attorney, who places the funds into low-risk, interest-bearing accounts.
The merchant issues a Cashable Voucher to the consumer, with all details about the program on the front and back of the certificate. For more details about the Cashable Voucher Program(tm), visit http://www.cashablevoucher.com.
Three years after the purchase date, the Consumers Trust redeems 100% of the rightful claims under the terms of the Cashable Voucher Program(tm). The Cashable Voucher Program(tm) is a very cost-effective way to promote products and services, gain competitive advantage, and increase market share for participating merchants and marketing companies.
According to Ken Owen, President of Nova Communications, "There is simply nothing like this program in the United States. More than 150 merchants who already use the Cashable Voucher Program(tm) report average revenue increases of more than 50% shortly after adding this marketing and sales tool. Therefore, we are particularly excited about introducing this powerful, innovative new program to California, which is the world's fifth largest economy."
In support of this new joint venture to promote the Cashable Voucher Program(tm), Consumer Promotions, Inc. has opened offices in Nova Communications' Torrance, California location.
Nova Communications Ltd. (OTCBB:NCVM) provides investment and management services for businesses in the Information Technology (IT) sector, including sales and services for business communications systems, computers, software, etc. Nova Communications' wholly owned subsidiary, doing business as TEC-networks, is a Nortel Networks Premium Partner that sells, installs, and services business communications systems for mid-sized and small businesses. For more information, visit http://www.tec-networks.com. Another wholly owned subsidiary of Nova Communications, doing business as BuyMicro, sells computer hardware and software, including 110,000 products at direct-from-the-manufacturer discount prices. For more information, visit http://www.buymicro.com.