Press Release
QSound Labs Signs Marketing Agreement with X:drive for AudioPix PlusT
AudioPix Plus to be Offered to Over 1.8 Million X:drive Users
Calgary, Alberta - April 19, 2000 -- QSound Labs, Inc.
(NASDAQ:QSND), a leading provider of enhanced Internet audio solutions and
multimedia software, today announced a distribution agreement with X:drive,
the first company to transform the Internet into a virtual hard drive. The
marketing agreement will see X:drive provide free virtual hard drive space
to AudioPix Plus users. They will also conduct an email marketing campaign
that will offer AudioPix Plus, at a reduced price, to their database of
over 1.8 million active users. X:drive continues to grow its database
exponentially by adding more than 25,000 users daily.
Under the terms of the agreement, QSound will add a link to its AudioPix
Plus software application that will send users to a special co-branded
X:drive web page which offers AudioPix users up to 100 MB of free Internet
storage space. The storage space can be used to securely store, share,
publish and organize any type of files, including documents, digital
images, photos, music and videos.
"The ability to put our product in front of over 1.8 million potential new
customers provides a tremendous opportunity for QSound," states David
Gallagher, President and Chief Executive Officer. "The agreement also
provides significant added value to AudioPix Plus users as they gain
access to free Internet hard drive space that can be used for storing and
distributing digital images, MP3s and completed presentation files."
"We are very excited about this partnership with QSound," said Chris
DeWolfe, VP of Strategic Planning and Development, X:drive. "The AudioPix
multimedia software is a natural fit with X:drive's strategy of becoming
an essential tool for users to manage, share and access rich media
content."
About AudioPix Plus:
AudioPix Plus us an easy-to-use software application that puts the power
of multimedia into the hands of everyone. By merging together leading
Internet technologies, AudioPix Plus allows users to create personal
multimedia slideshows for the home or office by easily combining MP3 music
files with digital photos or images. Completed AudioPix Plus
presentations, which are playable with either RealPlayer or Windows Media
Player, can be emailed to anywhere in the world or used as dynamic content
for web sites and business presentations. Further product information is
available at http://www.audiopix.com.
About X:Drive:
Founded in early 1999, X:drive is privately held and based in Santa
Monica, CA. The Company has more than 25,000 new members joining daily and
more than 1.8 million active, registered members. Its free service
provides secure space on the Internet to organize, edit, store and share
any type of file. According to both PC Data Online and Nielsen Net
Ratings, X:drive is the largest Internet hard drive company in the world.
Its investors include: Goldman Sachs, Wit Capital, eCompanies, Deutsche
Banc, Alex Brown, David Bohnett (founder GeoCities) and Randall Kaplan
(founder, JUMP Investors; co-founder, Akamai). The management team
comprises executives from established technology and consumer brand
companies. For further information, visit http://www.xdrive.com/enterprise.
This release contains
forward-looking statements within the meaning of the Private Securities
Litigation Act of 1995 concerning, among other things, marketing of, and
opportunities for, newly introduced products, and future financial
results. Investors are cautioned that such forward-looking statements
involve risk and uncertainties, which could cause actual results,
performance or achievements of the Company, or industry results to differ
materially from those reflected in the forward-looking statements. Such
risks and uncertainties include, but are not limited to, risks associated
with the Company's ability to carry out its business strategy and
marketing plans, including availability of sufficient resources for the
Company to do so timely and cost effectively, consumer acceptance of the
Company's products, dependence on the performance of third parties who
have agreed to market the Company's technologies, dependence on
intellectual property, uncertainties relating to product development and
commercial introduction, rapid technological change and competition,
continued growth of the Internet, general economic and business conditions
and other risks which may be detailed from time to time in the Company's
periodic reports filed with the Securities and Exchange Commission.
Forward-looking statements are based on the current expectations,
projections and opinions of the Company's management, and the Company
undertakes no obligation to publicly release the results of any revisions
to such forward-looking statements which may be made, for example to
reflect events or circumstances after the date hereof or to reflect the
occurrence of unanticipated events.