TORONTO, Oct. 5, 2004 (PRIMEZONE) -- Velocity International Corp. "VELOCITY," "(Pink Sheets:VITJ)," or the "Company," today announced that the Company has signed a letter of intent with the International Alliance of Model Agencies ("M.A.M.A.") to promote their talent to third parties interested in utilizing such talent.
Velocity intends to globally pursue the opportunity that its technology services may have on the talent and modeling agency industries and the Company's acquisition and marketing strategy.
About Velocity International Corp. -- www.VelocityIntCorp.com
Velocity International Corp. ("VELOCITY," "VITJ," or the "Company") is a publicly traded development stage company created to acquire operating talent and modeling agencies along with acquiring existing technology service companies supporting the professional and amateur talent and modeling agencies, professional and amateur athletes, designers, creative professionals and support entertainment industry professionals. Ultimately, the company intends to provide one-stop solutions and services that address the needs of the fashion and entertainment production client throughout the world.
About the International Alliance of Model Agencies -- M.A.M.A. www.mama.artsite.ru (to translate the website please utilize http://babelfish.altavista.com/) The international alliance of model agencies M.A.M.A. was created for the interrelations of participants in the model industry. M.A.M.A. brings together model agencies, advertising and design - bureaus, periodicals, photo-studios and photo-artists, internet- projects, and producers from all of the countries of the former USSR. The primary goal of the alliance is not just to advance models from the agency terms in the western model agencies, M.A.M.A., the association is concerned with the processes of the model business in the different regions of Eastern Europe and the transformation of the "model business" into a real profitable occupation. Namely: for the professional models and the model agencies. Presently, M.A.M.A. is composed of 31 agencies from Russia, two from Kazakhstan and Ukraine, one from Uzbekistan, Kyrgystana, Moldovy, Belarus', Estonia, and Latvia. (http://www.mama.artsite.ru to translate http://babelfish.altavista.com/)
Safe Harbor Statement:
This information includes certain "forward-looking statements." The forward-looking statements reflect the beliefs, expectations, objectives, and goals of Velocity International Corp. management with respect to future events and financial performance. They are based on assumptions and estimates, which are believed reasonable at the time such statements are made. However, actual results could differ materially from anticipated results. Important factors that may impact actual results include, but are not limited to commodity prices, political developments, legal decisions, market and economic conditions, industry competition, the weather, changes in financial markets and changing legislation and regulations. Matters discussed in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in any reports filed by the Company. Forward-looking statements are intended to qualify for the safe harbor provisions of Section 21E of the Securities and Exchange Act of 1934, as amended.