LOS ALTOS, Calif., Oct. 25, 2005 (PRIMEZONE) -- FreeHand Systems, Inc. (Pink Sheets:FSYI) ("FreeHand") the digital music company whose revolutionary technology is shaping the future of the distribution and performance of sheet music, announced today that it has reached a $35 million agreement with Acton International Corporation, Ltd ("Acton"), a wholly owned subsidiary of Tom Lee, Ltd., the largest musical instrument distributor and retailer in Asia, to distribute FreeHand's digital MusicPad Pro(R). FreeHand is the world leader in digital sheet music publishing and the developer, manufacturer and marketer of the industries first digital music tablet, the MusicPad Pro(R) Plus.
The agreement allows FreeHand to introduce its products immediately into China, Hong Kong, Singapore, Taiwan, Japan, Korea, Indonesia, Malaysia, Viet Nam, Thailand, Philippines and India, a $4 billion dollar music products market. Tom Lee, Acton's parent company, is an established second-generation music company with 22 retail stores in Hong Kong and a distribution presence in the entire Asian market place. John Lee, CEO, of Acton has extensive personal experience with successful new product introduction in these markets.
"This is an extraordinary opportunity for FreeHand to exceed its sales goals for this and following years with this expansion into 12 Asian countries with a major established music distributor as a partner," said Kim Lorz, FreeHand's CEO.
John Lee, CEO of Tom Lee Ltd. said, "We believe that the MusicPad Pro will be widely accepted throughout Asia and is the future of sheet music. Our company is committed to an aggressive distribution plan to reach musicians across all musical genres, educators, students and symphony orchestras directors. The new MusicPad Pro for Asia along with the MusicPad Maestro, allow us to integrate digital sheet music technology into everything we sell."
FreeHand is in a position to revolutionize the sheet music performance market and has a unique opportunity to be successful due the market potential of the company's advanced patented technology and its highly motivated and experienced management team. It provides both a new method of distribution and performance, bundling both in a powerful 4 lb. tablet and a robust, easy-to-use website to buy and play music. Mr. Lorz added, "We see the future of sheet music maintained as digital masters and downloaded globally, as needed, opposed to being printed on paper and delivered six to eight weeks later and very little paper will be involved in education or professional performances."
FreeHand Systems, Inc., a wholly owned subsidiary of Freehand Systems International, Inc., is the global leader in digital sheet music publishing, www.sunhawk.com, and is the manufacturer of the first digital music tablet, the MusicPad Pro(R) Plus. The pad provides innovative technology to the music industry.
This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements regarding potential sales, the success of the company's business, as well as statements that include the word "believe" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of FreeHand Systems International, Inc. to differ materially from those implied or expressed by such forward-looking statements. Such factors include, among others, the risk factors included in FreeHand Systems International, Inc.'s Annual Report and any subsequent reports filed with the SEC under the Exchange Act. This press release speaks as of the date first set forth above and FreeHand System Internationals, Inc. assumes no responsibility to update the information included herein for events occurring after the date hereof. Actual results could differ materially from those anticipated due to factors such as the lack of capital, timely development of products, inability to deliver products when ordered, inability of potential customers to pay for ordered products, and political and economic risks inherent in international trade.