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NEWARK, Del., June 5 /PRNewswire-FirstCall/ -- Theater Xtreme Entertainment Group, Inc. (OTC Bulletin Board: TXEG - News), a nationwide seller and installer of real movie theaters for the home, today announced that it has approved a franchise territory for Dream Team Entertainment Group, LLC, a Colorado corporation. Its owners are John Tait, Richard Novaria, Jonathan Cairns, and Fran Burns of Greely, Col., and Jeremy Hart of Fort Collins.
The franchise is expected to be located in Loveland nearby to Fort Collins.
"We have a diverse, highly skilled group of owners," said Tait, a 15-year, self-employed custom A/V and alarm retailer from the area. "Among us, we have backgrounds in financial services, building contracting, and reality. It's a strong team and we're very encouraged by Theater Xtreme's potential in this market."
Dream Team Entertainment Group was looking for a turnkey business that would help them take advantage of the burgeoning front-projection home cinema marketplace. "Theater Xtreme was a natural fit for them because it is the most proven franchise concept of its kind," according to Theater Xtreme President and Chief Operating Officer Ken Warren.
"Coloradoans are about to discover just how affordable a real movie theater for the home can be. I foresee this being a real success story, and we're all excited about the opportunity," Tait added.
A grand opening date is slated for September 2007. Visit http://www.TheaterXtreme.com for more information about this and other locations.
To be added to Theatre Xtreme's investor contact list, please contact Justin Schakelman at jschakelman@theaterxtreme.com.
About Theater Xtreme Entertainment Group, Inc.
Theater Xtreme Entertainment Group, Inc. (OTC Bulletin Board: TXEG - News) is a specialty retailer of real movie theaters for the home. The Company's 80" to 120" front projection systems deliver an authentic movie theater experience, as an increasingly popular alternative to flat panel televisions. Its cinema packages, featuring brand names and factory direct products, are simple to use and cost significantly less than traditional A/V dealer offerings. With package-focused merchandising and fast installation, the Company makes it easy to own a complete theater. It operates 5 company owned stores and 9 franchises in 10 states.
Safe Harbor Statement
Some of the information presented in this letter constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements represent the Company's judgment regarding future events, and are based on currently available information. Although the Company believes it has a reasonable basis for these forward-looking statements, the Company cannot guarantee their accuracy and actual results may differ materially from those the Company anticipated due to a number of known and unknown uncertainties, of which the Company is not aware. Factors which could cause actual results to differ from expectations include, among others, the ability of the Company to sell franchises, success of the franchise stores, the ability to find suitable locations for new corporate and franchise stores, delay or loss of key products from vendors, the ability to maintain margin and sales growth rate, disruption of product delivery from overseas suppliers, changes in regard to significant suppliers, increased competition from companies with more expertise, experience, or financial resources, technological changes in the home theater market which may render the Company's offerings obsolete, less competitive, or too expensive, material reduction in the demand for home theaters, and lack of sufficient capital to allow the Company to achieve its corporate store opening goal. For additional information concerning these and other important factors that may cause the Company's actual results to differ materially from expectations and underlying assumptions, please refer to the reports filed by the Company with the Securities and Exchange Commission available at www.sec.gov.
Contacts:
Investor & Media:
The Investor Relations Group
Katrine Winther-Olesen
212-825-3210
katrine@investorrelationsgroup.com
Mike Graff/Susan Morgenbesser
212-825-3210
mgraff@investorrelationsgroup.com
susan@investorrelationsgroup.com
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