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MGI Announces Development and Licensing Agreement with Palm

Press release from the issuing company

CAMPBELL, CA and TORONTO, ON - March 19, 2001 - MGI (TSE:MGI), a leader in visual media software products and infrastructure, today announced a strategic development and licensing agreement with Palm, Inc., a leading provider of handheld computers. MGI has been working with Palm to develop an enhanced version of MGI PhotoSuite Mobile Edition, which takes advantage of the expansion capabilities of Palm’s newest handheld computers, the m500 and m505, announced by Palm today. MGI's software, which allows users to view, store and beam photos and videos on Palm Powered handhelds, is included in the box with the new Palm? handhelds. In addition, the companies are collaborating on a variety of future initiatives, including wireless imaging utilizing MGI Zoom Image Server. Further terms of the agreement were not disclosed. “The opportunity to be part of the Palm handheld user experience brings us another step closer to making PhotoSuite the ubiquitous choice in consumer imaging,” said Anthony DeCristofaro, MGI president and chief executive officer. “We are very excited to have PhotoSuite Mobile Edition bundled with the Palm m500 and m505 handhelds.” “We chose MGI to be part of the m500 and m505 out-of-the-box experience for several reasons, including MGI’s leadership in digital imaging and the PhotoSuite brand recognition among consumers,” said Byron Connell, vice president, Product Management and Planning, Palm, Inc. “Imagine: Videos and photos stored on a card about the size of a postage stamp, available for viewing whenever and wherever you want. Just put them in your pocket and take them with you.”