CWRUObserver.com -Financial News and Headlines - NYSE, Nasdaq, OTC's

[chris_in_ny]

ARTI NEWS OUT: Artfest International Projects $1 Million Revenue Increase With Signed Agreement

http://www.marketwire.com/press-release/Artfest-International-Inc-1014926.html

SOURCE: Artfest International, Inc.
Jul 09, 2009 08:31 ETArtfest International Projects $1 Million Revenue Increase With Signed AgreementHighlighted Links


MacReport Media Publishing

Artfest International, Inc.DALLAS, TX--(Marketwire - July 9, 2009) - Artfest International, Inc. (OTCBB: ARTI) is pleased to announce that the Company's wholly owned subsidiary Charity Sports Distributor, Inc. (CSD) has signed an agreement with Legends Hospitality Management to manage in-game silent auctions at all Dallas Cowboys home football games and other select events at the new Cowboys Stadium in Arlington, TX. The auction displays will be featured before and during the game or event in strategic plaza, club, and suite areas, and will offer premium quality framed Dallas Cowboys and other celebrities' autographed memorabilia. The Company believes that this agreement has the potential to increase annual revenue by approximately $1 million.

Legends Hospitality Management is a company that prides itself on providing fans with an exceptional experience each and every time they visit a venue. Legends provides expertise and carefully honed customer service in multiple categories including food and beverage, merchandise, facilities management, design and consulting, hospitality and live entertainment. In each of these categories the Company sets itself apart by being more than a third party provider. They customize a program that guarantees a level of advanced fan service and high-end hospitality that is unequaled by any other company in the industry. In addition to the Dallas Cowboys, some of Legends' clients include the New York Yankees, George M. Steinbrenner Field, and PNC Field.

Artfest International recently signed a definitive agreement to acquire Charity Sports Distributor, Inc. (CSD). CSD is in the gift, novelty, collectable and memorabilia business and operates souvenir shops and game day auctions at college sport venues. The company is headquartered in Carrollton, TX. CSD currently has over 20 employees and had annual sales of over $3.3 million in 2008. Through this acquisition, Artfest International now has approximately $1.2 million in sport memorabilia, which will be available for sale on the Company's Web site: www.artfestinternational.com.

"We are excited about the relationship with Legends Hospitality Management and the Dallas Cowboys. We feel that this is a great opportunity for Charity Sports Distributor to expand our client base. We are looking forward to building a strong relationship with Legends Hospitality Management," stated Edward Vakser, CEO of Artfest International, Inc.

For more information about Legends Hospitality Management, please visit: http://www.legendshm.com/index.html.

About Artfest International, Inc.

Artfest International, Inc. is a publicly traded Company under the stock symbol "ARTI." Artfest brings together artists, investors, decorators, designers, private collectors and art galleries. Artfest International's corporate site is www.artfestinternational.com. Artfest's subsidiaries are Art Channel, Inc. www.artchannel.tv, and Art Channel Galleries, Inc. www.ArtChannelGalleries.com, offering the most exciting product and rewards program in the history of direct sales marketing.

Safe Harbor Statement -- This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual or future results may differ materially from those anticipated depending on a variety of factors, including continued maintenance of favorable license arrangements, success of market research identifying new product opportunities, successful introduction of new products, continued product innovation, sales and earnings growth, ability to attract and retain key personnel, and general economic conditions affecting consumer spending. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. ARTI does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.