VANCOUVER, British Columbia, Canada, March 8, 2004 (PRIMEZONE) -- Titan Consolidated Inc. (Pink Sheets:TTCS) announced today that it has agreed to purchase LodgeView Entertainment Inc., a Canadian based provider of Video on Demand services to the Hospitality Industry. The purchase will allow Titan Consolidated to enter into the VOD market and to roll out a comprehensive communications bundle to include VoIP technology and other services. LodgeView generates its current revenues from installations in 14 hotels in Canada and is looking to expand its client base across North America and parts of Asia. The company is also negotiating with several other potential hotel clients.
For Titan Consolidated, it means that the company will now have access to an integrated and expanding VPN (Virtual Private Network), which in turn will provide a virtually cost free backbone in which the company can deploy its planned VoIP services. This can be accomplished due to the modular construction of the technology and the already revenue generating Video On Demand (VOD) services. Further, Titan also plans to roll out an integrated Value Added Services package to hotels, including foreign exchange and money transfers, customer loyalty programs. LodgeView technology also includes Internet Broadband services and is based on new proprietary technology designed exclusively by LodgeView technicians and designers.
Certain information included in this communication (as well as information included in oral statements or other written statements made or to be made by Titan Consolidated Inc.) contains statements that are forward looking, such as statements relating to the future anticipated direction of the Software Industry, VoIP and Video On Demand, plans for expansion, various business development activities, planned capital expenditures, future funding resources, anticipated sales growth and potential contracts. These forward looking statements are subject to a number of known and unknown risks and uncertainties that could cause actual operations or results to differ materially from those anticipated.