EnXnet Signs Gift Card Preferred Vendor Deal with Duplium,
LLC for Exploding Stored Value Card Industry
TULSA,
Okla.--(BUSINESS WIRE)--EnXnet, Inc., (OTCBB:EXNT -
News; German Symbol E8U; German WKN# A0HMDW) has signed an agreement with Duplium, LLC assuring that Duplium
will only manufacture gift cards with a magnetic stripe for EnXnet
or to a third party only with EnXnet's written
approval. This arrangement expands EnXnet's
manufacturing capacity
."This
agreement is an important step in securing the stored value market for
Multimedia Gift Cards(TM)," says Ryan Corley, EnXnet's
CEO. EXNT's Technology makes possible the world's
first multimedia gift card that provides up to 8 minutes of DVD quality video
on one side of the gift card and a value strip on the other. This arrangement
assures EXNT a very strong position in this market.
"The
gift card market exploded during the 2006 holiday season with $24.81 billion
spent on these items," Corley goes on to explain. "CNNMoney.com
estimates that 2007 will see a record $90 billion in gift card sales, up from
$56 billion in 2006, with more retailers carrying and offering gift cards than
ever before."
EnXnet's solution adds the opportunity for manufacturers and
retailers to market directly to the customers with up to 8 minutes of full
motion video. There are numerous applications for this technology and it is a
huge improvement over the static cards that are currently being sold.
Michael
Jackson, President of Duplium Corporation, said,
"We are committed to EnXnet and look forward to
producing the Multimedia Gift Card(TM) for them."
Duplium, one of the largest North American DVD/CD manufacturing and
digital media companies, has dedicated more than 25,000 square feet of
manufacturing space to enhance and support EXNT's
product lines.
With more
and more retailers carrying gift cards and the increase in uses for the cards, EnXnet is looking to capitalize on this opportunity in
2007. This agreement with Duplium is an important
step in securing EnXnet's technology a substantial
share of the stored value card market.
This release may include forward-looking statements from the company
that may or may not materialize.
Additional information on factors that could potentially affect the
company’s financial results may be found in the company’s filings with the
Securities and Exchange Commission.
Contact:
EnXnet Inc.,
Ryan
Corley, 918-592-0015
Fax:
918-592-0016
investor@enxnet.com
or
For
Investor Relations:
Integrated
Capital Partners, Inc., 908-204-0004
or
Duplium Corporation
Keith
Eckhardt, 972-512-0014
National
Sales Manager