galavu acquisition finalised

Company Announcements Office Australian Stock Exchange Limited 20 Bridge Street SYDNEY, NSW 2000 By electronic lodgement GALAVU ACQUISITION FINALISED Sydney, April 05, 2005 – The Directors of Entertainment Media & Telecoms Corporation Limited (“EMT”), vendors and providers of On Demand Entertainment and Connectivity systems have confirmed the transaction has been finalised. Mr. Brad Schroeder, formerly owner and President of GalaVu has been appointed to the EMT Board of Directors, effective immediately and now assumes the role of President and CEO of EMT Americas. EMT now operates some 32,000 rooms around the world and offers the Hospitality industry both the fully integrated digital VuScape™ system and the well established hybrid digital/RF system from GalaVu™. The presence of Operations, Sales and Support offices in Canada, North America and Australia mean the company can sell on a more competitive basis using a greater range of technical solutions to secure business. Executive Chairman of EMT, Mr. Peter Dykes said “Mr. Schroeder has a depth of experience in the DVOD and Broadband markets that add significant value to our organisation. His responsibilities will include working with the Board of Directors to develop a unified strategy to best leverage our global presence and resources, and to deliver profitable results from the North American division.” All existing GalaVu VP’s, senior executives and staff have been maintained by EMT and will report to Mr. Schroeder as will the executive team of the US Sales and Operations office. Mr. Brad Schroeder has expressed his commitment to utilising the investment injected by EMT through the acquisition to close out critical development projects and to secure the capitalisation of the existing sales pipeline for a swift turnaround of existing installation contracts. Entertainment Media & Telecoms Corporation Limited ABN: 81 071 275 253 Level 22, AGL Centre, 111 Pacific Hwy, North Sydney NSW 2060 Australia Ph: +61 2 9954 4200 Fax: +61 2 9954 5220 Email: [email protected] www.emtcorp.com.au
“As the President and CEO of EMT Americas, the emphasis over the next six months will be on closely managing finances and customer relationships during the transition period, closing on pending sales and driving completion of scheduled installations. Actions to be taken by the North American executive management team will ensure EMT fully leverages relationships with suppliers, content providers and studios and gains the considerable economic benefit of having significantly increased our economies of scale.” ENDS About EMT Corporation Entertainment Media & Telecoms Corporation Ltd (EMT) is an Australian owned and run company listed on the Australian Stock Exchange, (ASX Code: ETC), incorporated in Delaware, North America and the parent company of GalaVu Entertainment Networks. EMT specializes in the provision and operation of Digital Service Delivery Systems for the Hospitality Industry, and provides modern digital technologies and content to over 30,000 rooms globally. Sites operate in Australia, New Zealand, North America, Canada, UK, Caribbean, South Africa, Europe and Singapore. Headquartered in North Sydney, Australia, the company also has Operations, Sales and Customer Support Offices offices in Toronto, Dallas and Halifax. Preferred suppliers include: Extreme Networks for Ethernet infrastructure, Solution Inc. for High Speed Internet Access software and controls, and Eagle Broadband for Set Top Box technology. For more information, visit www.emtcorp.com.au