Bergen, Norway, August 21, 2006. Vizrt Ltd. (Frankfurt Prime Standard, Oslo Main List: VIZ), announces today that it has expanded its market share in Pakistan with sales of USD 1.1 million so far this quarter.
The sale in Pakistan this time is both to Geo TV, once Vizrt's first customer in Pakistan, who now has decided to expand their Vizrt core technology - and through new sales to Television Media Network (TMN), which is Vizrt's latest Pakistani customer. TMN is to launch seven 24/7 news channels, one for each of Pakistan's 7 official languages. The initial order of TMN is for their Urdu channel.
As has been the case for other territories staging general elections, the Pakistani election in 2007 is perceived by Vizrt as having large revenue potential for broadcast graphics, particularly for the start-up channels. These initial sales to Pakistan do not include asset management or archiving products, but are based on broadcast graphics alone.
Ofra Brown CFO +47 2169 2790 firstname.lastname@example.org
Kathrine Wallace VP Marketing +47 55 90 8265 email@example.com
SCHWARZ Financial Communication Frank Schwarz +49 611 1745 398 11 firstname.lastname@example.org
Vizrt offers a new vision for content creation and delivery with an end-to-end solution from ingest to visualization. Our solution combines Vizrt's true 2D/3D graphics tools with Curious Software's World Maps and Ardendo's Asset Management. Running on non proprietary software, the combination of these unique cutting edge products ensures a seamless workflow from conception to multi-format distribution. The latest addition to the Vizrt product suite is Viz|3G for hand held devices. Vizrt's product suite is used by the world's leading broadcasters including: CNN, CBS, Fox, BBC, Sky, ITN, ZDF, Star TV, TV Today, CCTV and NHK. Also, many world-class production houses and corporate institutions, including both the New York and London Stock Exchanges, utilize Vizrt solutions.Vizrt is a public company traded on the Frankfurt Prime Standard and on the Oslo Main List: VIZ, ISIN: IL0010838154. For further information please refer to www.vizrt.com
This press release contains forward-looking statements with respect to the business, financial condition and results of operations of Vizrt and its affiliates. These statements are based on the current expectations or beliefs of Vizrt's management and are subject to a number of risks and uncertainties that could cause actual results or performance of the Company to differ materially from those contemplated in such forward-looking statements. These risks and uncertainties relate to changes in technology and market requirements, the company's concentration on one industry, decline in demand for the company's products and those of its affiliates, inability to timely develop and introduce new technologies, products and applications, and loss of market share and pressure on pricing resulting from competition, which could cause the actual results or performance of the company to differ materially from those contemplated in such forward-looking statements. Vizrt undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
--- End of Message --- WKN: 926501; ISIN: IL0010838154; Index: Prime All Share, TECH All Share; Listed: Geregelter Markt in Frankfurter Wertpapierbörse, Prime Standard in Frankfurter Wertpapierbörse, Freiverkehr in Börse Berlin Bremen, Freiverkehr in Börse Düsseldorf, Freiverkehr in Börse Stuttgart;