Ocean Harvest T Regulatory News (OHT)

20 Jul 2005 08:00

Orad Hi-Tec Systems20 July 2005 Virtual Advertisement Agreement with Dutch Football Premier League Eredivisie Orad wins its largest European contract to date valued at more than US $3million for a virtual advertisement agreement with the Dutch Football PremierLeague Eredivisie. Orad Hi-Tec Systems (Symbol: OHT), announced today the signing of a three-yearcontract with Dutch based production house WK Producties for producing virtualadvertisement and sport enhancements for the Dutch Football Premier LeagueEredivisie. The contract, valued at more than US $3 million, is the largestcontract ORAD has signed in Europe to date. Under the terms of the Agreement, Orad's CyberSport system will be used toinsert "virtual carpet advertising" and sport enhancement features of all 966games for the upcoming 3 seasons. In addition, CyberSport will be used forother matches such as the UEFA Cup, Intertoto, Friendly matches and the AmstelCup. The system will be operated by Dutch sports production company WKProducties. CyberSport's flexibility enables the inserting of virtual carpets anywhere onthe sidelines of the pitch; areas where physical billboards can't be placed.Furthermore a set of other features such as offside lines, 9 meter indicatorsand distance measurements are to be introduced, enriching the broadcast feed. "Our aim is to provide the Eredivisie League teams with an additional stream ofrevenues that can be generated from the virtual carpets on the one hand and toenhance the viewer experience on the other hand by using state of the art sportenhancement features" says General Director Will Moerer of WK Producties."During the past few months we tested some alternatives and found Orad'sCyberSport superior compared to all other alternatives. CyberSport provides uswith all the necessary tools to achieve our goals" Moerer summarised. Commenting on the deal, Orad CEO Mr. Avi Sharir said: "As a long time advocateof the acceptance of virtual advertising by rights holders and broadcasters, Iam thrilled with the Eredivisie and WK endorsement of the CyberSport.CyberSport is the only system on the market able to provide a comprehensivesolution. Following the initial agreement with the Eredevisie league for year2004- 2005 season, the league will now be able to provide its advertisers withnew ways to strengthen their brand and provide a richer broadcast feed for homeviewers with our sport enhancement features. More and more broadcasters are nowrealising the potential of virtual advertising and we anticipate it will becomeone of the growing engines of our operation." About ORAD Founded in 1993, Orad is a world leader in TV production technology and israpidly increasing its position in the Virtual Reality industry. Orad's lines ofproducts include virtual sets, on-air graphics systems, virtual advertising,sports production solutions and hardware for the Virtual Reality industry. Oradhas received extensive worldwide recognition for its systems at a wide-range ofevents including the 1999/2000 Emmy Award for the 'Implementation of Real TimeVirtual Imaging for Live Events on Television'. Orad is a publicly tradedcompany on Frankfurt's Markt and the AIM Market of the London Stock Exchange(symbol: OHT). www.orad.tv For further information please contact:Ofir Benovici - ofirb@orad.tvDirector of MarketingOrad Hi Tec Systems This information is provided by RNS The company news service from the London Stock Exchange