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PRESS RELEASE: Concord Keystone Sales Corp. Signs Exclusive Agreement With Source Interlink, Expanding Impulse Purchase Distribution
Concord's digital cameras and Polaroid One-time-use cameras will be made available nationally at the check-out counters of leading retail chains
Hollywood, FL, February 15, 2005 - Concord Camera Corp. ("Concord") (Nasdaq:LENSE), a leader in award-winning, high-quality, affordably-priced imaging products, announced today a new distribution agreement between Concord Keystone Sales Corp. ("Keystone"), a Concord subsidiary, and Source-U.S. Marketing Services, Inc. ("Source Interlink"). Under the terms of the two year agreement, Concord cameras will be made available nationwide through Source Interlink's fixtures program in large retail store chains. Concord will market its Polaroid branded one-time-use cameras as well as its clamshell packaged Concord branded digital cameras on an exclusive basis to Source Interlink's retail clients.
"Source Interlink gives Concord unprecedented access to high volume front end placement in the country's largest retailers. Combined with our value priced quality products and Source Interlink's merchandising expertise, we anticipate increases in retail distribution and sales", said Rod King, Vice President and Director of Sales, Americas for Keystone.
Source Interlink provides design, manufacturing, and installation and in-store merchandising of front end/cash register check out lanes to major retailers in the U.S. Source Interlink provides turn key solutions that enable major retailers to effectively manage their front end check out programs. These programs are in high demand by retailers, and as a result, Source Interlink's customer network has grown dramatically over the past few years.
"We are very excited about our new relationship with Concord and the tremendous potential for increased sales on their impulse orientated one-time-use camera and value priced digital cameras.... Concord is a great addition to our assortment selection for our retail partners", stated Frank Bishop, Senior Vice President of Source Interlink.
About Concord Camera Corp.
Concord Camera Corp., through its subsidiaries, is a global producer of popularly priced, digital, 35mm traditional and single use cameras. Concord markets its cameras under the trademarks POLAROID, CONCORD, CONCORD EYE Q and JENOPTIK. Concord sells and markets its camera products worldwide through direct sales offices in the United States, Canada, Germany, Hong Kong, the Peoples Republic of China, the United Kingdom, Japan and France and through independent sales agents. The Polaroid trademark is owned by Polaroid Corporation and is used by Concord under license from Polaroid. CONCORD and CONCORD EYE Q are trademarks and/or registered trademarks of Concord Camera Corp. in the United States and/or other countries. The JENOPTIK trademark is owned by Jenoptik AG and is used by Concord under license from Jenoptik AG. Learn more about Concord Camera Corp. at www.concord-camera.com.
Except for the historical matters contained herein, statements in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements, including the statements regarding expected cost savings, our ability to meet customer demands and fulfill customer service obligations and anticipated or expected results and the future implementation of our strategic plan, in particular, the restructuring plan, cost-reductions initiatives and anticipated financial benefits of significantly reducing our reliance on internally designed and manufactured digital cameras and increasing the design and co-development of digital cameras with contract manufacturers, involve risks and uncertainties which may affect the Company's business and prospects, including the risks discussed under "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended July 3, 2004 and subsequently filed reports. Any forward-looking statements contained in this press release represent our estimates only as of the date hereof, or as of such earlier dates as are indicated, and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our estimates change.
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(First posted on Tuesday, February 15, 2005 at 11:50 EST)