Auction Video.com to Issue Apology for the Article in the Daily Herald, Utah

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AuctionVideo.com Inc. comments in regards to the Jan. 10, 2006 Daily Herald article ‘Orem Company Signs $100M deal with Sanyo’. The contents of this article are not based on facts. AuctionVideo apologizes to Daily Herald, NTT-DATA SANYO, the market and news organizations for the trouble that has been caused.

*Daily Herald (01/10/2006)

(http://www.heraldextra.com/content/view/159442/)

The following points are absolutely false.

1.    AuctionVideo has a $100 million software licensing deal with Japanese home appliance giant SANYO.

2.    NTT-DATA SANYO and AuctionVideo have entered a joint venture deal.

3.    SANYO’s VideoCellphone was unveiled at CES in Las Vegas.

4.    The cellphone is scheduled for a U.S. rollout this third quarter.

5.    AuctionCities will help distribute SANYO’s VideoCellphone.

AuctionVideo.com, Inc., founder and CEO Greg Ellis deeply apologized saying, “I deeply apologize for the afore-mentioned Daily Herald article being absolutely not based on any facts. In the future, in order that this sort of information doesn’t cause harm to the market and news organizations, we will take the utmost caution regarding information disclosure.”

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Greg Ellis
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