July 23, 2008
TIE Announces Distribution to Shareholders of Interactive Entertainment Group
TIE Technologies, Inc. (PINKSHEETS: TIET) announced today the distribution of TIE Entertainment Corporation, a recently created interactive entertainment subsidiary, to its shareholders of record on July 10, 2008. TIE Entertainment Corporation will be headquartered in Irvine California, with offices in Northern Virginia.
"We are very pleased to provide our shareholders with this dividend, TIE Entertainment represents a unique development opportunity within the growing interactive entertainment industry. We are currently providing virtually turnkey services to the online game publishing sector and perceive the future of this market to have sustained above average growth potential." TIE Technologies, Chairman and CEO, Edward C. Andercheck, stated that, "Spawning specialty technology assets to our shareholders in order to maximize their value is an ongoing strategy we are fully committed to."
TIE Entertainment Corporation provides a suite of seamless integrated systems and services for the interactive entertainment industry. The capabilities include specialty application and game hosting, Interactive Entertainment Portal operations, e-commerce wallet and customer-community services.
ABOUT TIE TECHNOLOGIES, INC.
TIE Technologies is a systems integration and telecommunications company focused on engineering and delivering innovative solutions within the competitive global voice, video and data communications markets. The company brings managed IT, telecommunications and wireless services to support its clients. Services and outsource solutions include application and database hosting, disaster recovery, redundancy, data transport, customer service, billing, etc. TIE Technologies (TIE) is a development stage public company introducing new products to the marketplace in 2008, and traded on the Pink Sheets under the symbol "TIET."
Safe Harbor Statement
The information in this release, other than historical information, may be considered forward-looking statements within the provisions of the Private Securities Litigation Reform Act of 1995. Projection and other forward-looking statements and management expectations regarding future events and/or financial performance of the Company -- although given in good faith -- are inherently uncertain and actual events and/or results may differ materially.
Contact: Total Communications 212.949.3400
SOURCE: TIE Technologies, Inc.