Ocean Harvest T Regulatory News (OHT)

27 Jun 2005 11:00

Orad Hi-Tec Systems27 June 2005 Orad Hi-Tec Systems Limited ("Orad") TV Globo extends virtual advertisement agreement with Orad Kfar Saba, Israel -June 27th, 2005 - Orad Hi-Tec Systems Limited (Symbol: OHT),world leader in virtual sets, on-air graphics and sports production toolsannounces today the extension of its 3 year virtual advertisement contractBrazilian leading broadcaster TV Globo. Orad is pleased to announce the extension of its revenue sharing agreement withTV Globo, a leading Brazilian broadcaster and one of the world's largestbroadcasters, to provide its virtual advertisement system. As part of the agreement, Orad will upgrade TV Globo's 3 Imagine virtualadvertisement systems to encompass the latest version recently released by Orad.Imagine is Orad's revolutionary system which allows broadcasters to insertvirtual advertisements onto the field of live sports events. The advertisementsremain in a fixed position on the viewer's screen regardless of the cameramotion and this creates the illusion that the advertisement is an integral partof the playing field. The upgrade of Imagine will provide TV Globo with anenhanced capability to allow richer and more sophisticated advertisements to bescreened, thereby creating the opportunity to increase revenues. Over the past few years, Orad's Imagine virtual advertisement system has beenextensively used by TV Globo. In particular, Imagine has been used for varioussports events such as soccer games as well as outdoor events such as theBrazilian carnival. Avi Sharir, President and CEO of Orad said: "Above all I see this agreement as avote of confidence in Imagine. TV Globo has assisted us to introduce the conceptof virtual advertising and I'm pleased that TV Globo decided to continuebuilding our relationship. We are excited by the prospects for Imagine and see agrowing demand for virtual advertising, and I am confident that more and morebroadcasters will seek to follow TV Globo". About ORAD Founded in 1993, Orad is a world leader in TV production technology and rapidlyincreasing 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 in the Prime Standard on Frankfurt's Wertpapierborse Prime Standard andAlternative Investment Market of the London Stock Exchange (symbol: OHT). www.orad.tv For further information contact: ORAD Hi-Tec Systems LtdAvi Sharir, Israel 972 9 7676 862 Shore CapitalGraham Shore, London, UK 44 20 7408 4090 Haubrok Investor RelationsMichael Kempkes, Frankfurt, Germany 49 211 30126102 This information is provided by RNS The company news service from the London Stock Exchange