PR: Video Without Boundaries(TM) to Purchase Tech Distribution Company
FOR IMMEDIATE RELEASE Video Without Boundaries(TM) to Purchase Tech Distribution Company Graphics Distribution, Inc. Move Will Assure State-of-the-Art Warehousing, Distribution, Technical Customer Support for VWB Products Including New MediaREADY 4000 FORT LAUDERDALE, Fla., May 17, 2004 -- Video Without Boundaries(TM), Inc. (OTC Bulletin Board: VDWB), a leading provider of interactive, media-convergent home entertainment devices, today announced that it has signed a letter of intent to purchase Graphics Distribution Inc. (GDI), a Glendale, Wisconsin-based high-technology distribution and product support services company. Graphics Distribution, which will become a wholly-owned subsidiary of Video Without Boundaries upon completion of the deal, will provide warehousing, distribution, sales, and technical customer support for VWB's consumer electronics products, including its new MediaREADY 4000 convergent Internet DVD/CD player. Graphics Distribution, Inc., founded in 2000, is an established and profitable enterprise with fiscal 2003 revenues of $8 million and 2004 Q1 sales of more than $3 million. The company has relationships with many of America's largest and best-known retail consumer electronics and computer companies including CDW, Dell, Ingram Micro, Insight, PC Connection, Richardson Electronics, and Tiger Direct. GDI currently serves as authorized distributor for manufacturers in the video, AV, personal computer, and IT segments and operates a warehouse and distribution center in Glendale, a suburb of Milwaukee. No management or operational changes are anticipated at Graphics Distribution as a result of the purchase. Terms of the deal involve a combination of cash and Restricted 144 common stock and are expected to be completed by May 31, 2004 for inclusion of revenue and profits in VWB's financial period ending June 30, 2004. "VWB's purchase of Graphics Distribution is not only synergistic with our current MediaREADY products, but also fulfills our needs for production distribution and customer technical support without increasing our overhead," said Jeffrey Harrell, president of Video Without Boundaries, Inc. "In addition, the acquisition will further enhance our position with major distribution partners currently doing business with GDI." "Entering into this purchase agreement with Video Without Boundaries will significantly increase GDI's exposure to emerging consumer electronics segments," noted James Joachimczyk, President of Graphics Distribution, Inc. "Our strengths in product support, as well as our established distribution infrastructure and location in the central U.S., will ensure prompt and stable supply of VWB's exciting new media convergence products for retailers across the country." GDI is located at 4650 North Port Washington Road, Glendale WI 53212; for more information about Graphics Distribution, visit www.gdius.com. About Video Without Boundaries: Video Without Boundaries (OTC Bulletin Board: VDWB) is a leader in the converging digital media on demand, enhanced home entertainment, and emerging interactive consumer electronics markets. VWB is focused on home entertainment media products and solutions that enhance the consumer experience, while providing new revenue opportunities for online music and movie content providers. VWB, and its subsidiaries, are leading suppliers of broadband products, services and content including its ability to deliver broadcast quality digital video and web interactivity at transfer rates as low as 56K. Website: www.vwbinc.com. Forward-Looking Statements: Forward-looking statements and comments in this document are made pursuant to the safe harbor provision of Section 21E of the Securities Exchange Act of 1934. Such statements relating to, among other things, the prospects for the company to increase the level of sales, maintain current sales levels, add new products and services and develop new Web sites are necessarily subject to risks and uncertainties, some of which are significant in scope and nature, including risks related to the demand for the company's products and services competition, and availability of capital. MediaReady and Video Without Boundaries are trademarks of Video Without Boundaries, Inc. All other trademarks or registered trademarks are the property of their respective owners. PRESS CONTACT: Katie Eakins S&S Public Relations, Inc. 847-708-5600 Katie@sspr.com INVESTOR RELATIONS: Michael Porter Porter, LeVay & Rose, Inc. 212-564-4700 # # # Distributed by eReleases - http://www.ereleases.com To be removed or revise your subscription, forward this entire email (including headers) to: newsbureau@ereleases.com You are registered under this email address: submit@theautochannel.com