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NEWS
RELEASE
FOR IMMEDIATE RELEASE
FREEHAND
SYSTEMS, MAKER OF THE MUSICPAD PRO®, ANNOUNCES AGREEMENT TO
ACQUIRE ELECTRONIC COURSEWARE SYSTEMS, INC.
Acquisition
continues to position FreeHand Systems as world leader in digital
music technology and distribution of digital content.
LOS
ALTOS, Calif. – July 20, 2006 – FreeHand Systems, Inc.,
subsidiary of FreeHand Systems International, Inc. (OTCO: FSYI)
announced today that it has entered into an agreement to acquire
Illinois-based Electronic Courseware Systems, Inc. (ECS), a privately
held computer software developer and publisher focusing on products
related to music and music education. The acquisition continues
to build FreeHand’s mission of reinventing how musicians read
and perform music.
ECS
was co-founded by Dr. G. David Peters in 1981 to make music software
available to teachers and students on low-cost home computers and
brings with it over 40,000 customers including schools, universities,
private teachers, students and home users. The company has previously
developed software for companies such as Roland, Yamaha, IMB, Baldwin
Piano and Organ and many major book and music publishers. Its valuable
assets include a library of computer algorithms and computer software
modules used to speed the development of software and media products.
The assets of ECS also include a library of 75 instructional and
training products in music and other disciplines.
“Electronic
Courseware Systems has been an early leader in the development of
music education software and we are excited to include them in our
vision of the future of digital sheet music and music education,
“says Kim Lorz, CEO of Freehand Systems.
Dr. Peters
stated, “Electronic Courseware Systems, Inc. is pleased to
join FreeHand Systems in merging its music instruction software
with the state-of-the-art MusicPad Pro product.” He added,
“The combination of the capabilities of the MusicPad Pro and
the interactive features of ECS software will offer a powerful new
technology to professional and student musicians alike.”
FreeHand
Systems, Inc. (www.freehandsystems.com),
a wholly owned subsidiary of Freehand Systems International, Inc.
(FSYI), is the global leader in digital sheet music publishing and
is the manufacturer of the first digital music tablet, the MusicPad
Pro® Plus. The MusicPad Pro provides innovative technology to
the music industry for displaying and publishing digitally delivered
sheet music. The company’s digital sheet music website (www.freehandmusic.com)
offers over 85,000 titles for digital download and transfer to the
MusicPad Pro.
Investor
Contact:
650-941-0742 (Investor Relations)
investorrelations@freehandsystems.com
Media
Contact: Clyde Beswick, VP Marketing
FreeHand Systems, Inc.
95 First Street, Suite 200
Los Altos, CA 94022
310.275.9269
cbeswick@freehandsystems.com
Note
to editors: For additional information visit FreeHand System’s
website, www.freehandsystems.com. FreeHand Systems, Inc., MusicPad
Pro®, MusicPad Pro® Plus, MusicPad Maestro™ are trademarks
of FreeHand Systems, Inc.
*****
This
press release contains forward-looking information within the meaning
of Section 21E of the Securities Exchange Act of 1934, as amended
(the "Exchange Act"), including statements regarding potential
sales, the success of the company's business, as well as statements
that include the word "believe" or similar expressions.
Such forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievements of FreeHand Systems International, Inc.
to differ materially from those implied or expressed by such forward-looking
statements. Such factors include, among others, the risk factors
included in FreeHand Systems International, Inc.'s Annual Report
and any subsequent reports filed with the SEC under the Exchange
Act. This press release speaks as of the date first set forth above
and FreeHand System International, Inc. assumes no responsibility
to update the information included herein for events occurring after
the date hereof. Actual results could differ materially from those
anticipated due to factors such as the lack of capital, timely development
of products, inability to deliver products when ordered, inability
of potential customers to pay for ordered products, and political
and economic risks inherent in international trade.
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