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NEWS
RELEASE
FOR IMMEDIATE RELEASE
FREEHAND
SYSTEMS CLOSES ACQUISITION OF 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. – October 16, 2006 – Freehand Systems,
Inc., subsidiary of FreeHand Systems International, Inc. (OTCO:
FSYI) announced today that it has completed the previously announced
acquisition of Illinois-based Electronic Courseware Systems, Inc.
(ECS), a privately held computer software developer and publisher
of music and music education products. The acquisition continues
to expand FreeHand’s mission of reinventing how musicians
read and perform music.
“With
the acquisition of Electronic Courseware Systems, we now have additional
software and product knowledge to assist in furthering the MusicPad
Pro® as a music education tool. We look forward to working with
David Peters’ and his team to more aggressively market their
products and to incorporate them in the MusicPad,” says Kim
Lorz, CEO of Freehand Systems.
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, IBM, Baldwin
Piano and Organ and many major textbook 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.
Dr.
Peters stated, “We look forward to adding the interactive
features of ECS software to FreeHand’s MusicPad Pro and believe
it will offer a powerful new technology to both professional and
student musicians.”
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 performance and education tablet, the MusicPad
Pro® Plus, which has an MSRP of $1199. The pad 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 to print or transfer
to the MusicPad Pro, which can range from $1.95 for a simple one-page
lead sheet to over $50 for a full performing score and parts.
Investor
Relations Contact:
investorrelations@freehandsystems.com
Brian Newman, 310-698-2027
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 Systems 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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