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SkyZone Entertainment, Inc. Receives $13.5M in Latest Round of Funding; SK C&C Enhances Digital Media Strategy With Investment in Mobile Content Company

Posted on: Wednesday, 23 November 2005, 12:00 CST

Wireless entertainment provider SkyZone Entertainment, Inc. today announced that it has received a US$13.5 million investment from SK C&C, a leading Korean technology services and consulting company.

"The infusion of SK C&C's capital will accelerate SkyZone's growth and expansion, especially as we focus on new product development and distribution in the short-term," said James Wee, President and CEO of SkyZone Entertainment, Inc.

SkyZone Entertainment is a mobile content provider, developer & distributor of products and services for wireless devices that support BREW, JAVA, WAP, RIM, PALM, Windows CE, & Symbian. The company's offerings include 2-D and 3-D single and multi-player games, mobile-enabled Web portals, ringtones, and graphics. SkyZone also holds licenses for key brands such as Duke Nukem, Stargate SG-1, and Rocky.

"SkyZone is a major component of SK C&C's digital media strategy," said Dr. Jae-Soo Cho, SK C&C's Executive Vice President. "We see significant synergies that SkyZone and SK C&C can leverage to fulfill our collective business vision."

SK C&C, a member of South Korea's 3rd largest conglomerate, SK Group, with aggregate revenues of over US$50 billion a year, is actively growing its business operations in the digital media sector. Its digital media business interests include publishing MMORPG and multi-player online games, the development of Portable Media Players (PMP) for next-generation wireless networks, and operating a 3D digital animation studio.

"SK C&C's growing portfolio of digital media initiatives is structured to promote compelling innovation in the entire digital media spectrum, including mobile communications," said Wee. "We're excited about the possibilities created by our investment in mobile entertainment leader SkyZone."

About SkyZone Entertainment

SkyZone Entertainment, an SK C&C affiliate company, is an international mobile entertainment business that creates and delivers fun and exciting Made for Mobile(TM) content. The Fort Lee, NJ-based company's offerings include brand-name games and cutting-edge applications such as 3D games, mobile-enabled Web portals, and wallpapers. SK Group is Korea's third-largest conglomerate with annual revenues exceeding US$50 billion. The organization consists of more than 40 companies, including SK Telecom, Korea's leading wireless service provider and recognized pioneer in the commercialization of 2.5G and 3G wireless service and applications. For more information, visit www.skyzonemobile.com.

Source: Business Wire

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