SOURCE: Artfest International, Inc.

April 16, 2010 07:00 ET

Artfest International, Inc. Increases Revenues by Over $2 Million for Twelve Months Ending December 31, 2009 as Compared to the Same Period in 2008

Company Files Its 10K With SEC for the Year Ending December 31, 2009

DALLAS, TX--(Marketwire - April 16, 2010) - Artfest International, Inc. (OTCBB: ARTS) is pleased to announce that the Company has generated $2,470,878 in operating revenue in the twelve months ending December 31, 2009 as compared to $141,626 in operating revenue for twelve months ending December 31, 2008, which is an increase of 1,645%. The increase in revenue is due to the increased sales of art and sports memorabilia through the Company's wholly owned subsidiary, Charity Sports Distributor (CSD), as well as through events held at Artfest International's 52,000 square foot facility in Dallas, Texas, and direct sales activity through its ArtFest Direct, Inc. and Art Channel Galleries, Inc. subsidiaries.

Artfest International reported total assets of $5,829,468 for twelve months ending December 31, 2009 as compared to $460,490 for twelve months ending December 31, 2008, which is a 1,167% increase. Over half of Artfest Internationals' assets stem from CSD's ability to produce/distribute authentic framed autographed sports and entertainment collectibles and art pieces. CSD's distribution avenues include B2B and B2C sales, charity fundraising auctions, professional and college sports teams' pro shops, e-stores, online auctions and a revolutionary in-game silent auction concept known as Home Game Auction. CSD's thirteen year experience in the professional and college sports marketplace has developed an extensive client list which consists of hundreds of private charities and conducts home game auctions at various professional and college teams. The addition of CSD's product line complements and expands the Company's ongoing product promotions and special purchase packages that are directed towards introducing a select number of acclaimed artists to its members.

Artfest Internationals Art Channel Network creates additional legitimacy through education, promotion of awareness of the arts, entertainment and promoting product sales. According to Mac Report, a media company that provides a Web-based forum for public and private issuers, the worldwide market for collectibles is worth $120 Billion annually. With the penetration of the personal computer and the Internet into most nations, this worldwide market is predicted to grow at a healthy pace over the next two decades. The Company has acquired and will seek additional broadcast and content acquisitions and partnerships to grow the Art Channel Network. The network will in time become an additional source of advertising revenue & art sales leveraged from the years of production experience of the management team. 

"We are excited about the progress that Artfest International has made in 2009," stated Edward Vakser, CEO of Artfest International, Inc. "We look forward to continuing to increase shareholder value through sales and key acquisitions in 2010."

Artfest International's December 31, 2009 10-K can be found at: http://www.otcmarkets.com/pink/quote/quote.jsp?symbol=ARTS

About Artfest International, Inc.

Artfest International, Inc. brings together artists, investors, decorators, designers, private collectors and art galleries. Artfest International's corporate site is www.artfestinternational.com. Artfest's subsidiaries are Art Channel, Inc. (www.artchannel.tv), and Art Channel Galleries, Inc. (www.ArtChannelGalleries.com), offering the most exciting product and rewards program in the history of direct sales marketing.

Safe Harbor Statement -- This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual or future results may differ materially from those anticipated depending on a variety of factors, including continued maintenance of favorable license arrangements, success of market research identifying new product opportunities, successful introduction of new products, continued product innovation, sales and earnings growth, ability to attract and retain key personnel, and general economic conditions affecting consumer spending. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. ARTI does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.

Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.

Contact Information

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