Los Angeles, United States, Oldenzaal, The Netherlands, October 21, 2005 – Commodore International Corporation (OTC:CDRL) (“Commodore”) today announced the commencement of negotiations with SupportPlus Europe B.V. (“SupportPlus”), of The Netherlands, to acquire up to 100% of its capital shares. This week the companies signed hereto a Memorandum Of Understanding. SupportPlus will remain a separate subsidiary of Commodore which will continue to serve its current client base in the European and Australian market, with plans to expand to the United States.
Since June 2005 SupportPlus has been a distributor of Commodore multi media devices in Europe and Australia. SupportPlus is expected to significantly contribute to the distribution of Commodore’s products and services. Together, with the SupportPlus sales & distribution organization, Support Plus and Commodore expect to expands their business to the USA in 2006 and they plan to exhibit at the Consumer Electronics Show in Las Vegas, Nevada.
Both companies expect to optimise their cost structures which should result in increased profit margins. Commodore expects to secure production and a potential market for its products in Asia by integrating with SupportPlus’ current Shanghai operations which will allow Commodore to be able to source production services, conduct R&D, and provide quality control for both its products and those of SupportPlus.
Commodore is always looking for further strengthening and expanding its business activities. Acquisitions and strategic alliances with third parties can be part of this continuous search. The main focus is enhancing Commodore’s shareholders’ value whereby the company takes into account the interests of other stakeholders of the company.
For more information on Commodore products and downloads, please go to
www.commodoreworld.com.
About Commodore International Corp.
Commodore International Corporation (OTC:YNMO), which acquired Commodore International B.V. from Tulip Computers in 2005, is a designer, creator and full-service provider of digital media products, content, and services. The Company sells a complete line of digital media player products under the “Commodore” brand name, and provides legal music downloads, live sports programs, and live concerts, all with multi-channel distribution through broadband, cable and satellite.
About SupportPlus Europe B.V.
SupportPlus Europe B.V. is a leading distributor of fast-moving consumer electronics in Europe and Australia. It has offices in seven European countries plus Hong Kong, Shanghai and Melbourne. SupportPlus’ successful business model is based on a combination of substantial product volumes and an efficient distribution model, which naturally has advantages for SupportPlus customers. Currently more than 100 employees are responsible for sourcing, purchasing, quality assurance, sales and worldwide logistics.
Commodore International Corp. HQ
1875 Century Park East, Suite 2150
Los Angeles, CA 90067, USA
Ronald S. Tucker
Tel +1 310 226 67 44
Fax +1 310 226 67 41
Email: press@yeahronimo.com
Web: www.commodoreworld.com/corporate
Commodore International Corp. Europe
Hermesweg 15
3741 GP BAARN
The Netherlands
Ben van Wijhe
Tel +31 (0) 35 543 05 07
Fax +31 (0) 35 543 50 54
Email: press@yeahronimo.com
Web: www.commodoreworld.com/corporate
SupportPlus Europe BV
Postbus 61
7570AB OLDENZAAL
The Netherlands
Eugène van Os
Tel +31 (0)54 1537290
Fax +31 (0)54 1532018
Email: info@supportplus.org
Web: www.supportplus.org