SOURCE: Artfest International, Inc.

January 22, 2008 09:00 ET

Artfest Outlines Aggressive Goals for Q1 2008

DALLAS, TX--(Marketwire - January 22, 2008) - Artfest International, Inc. (OTCBB: ARTI), the premier producer and distributor of fine art and collectibles, announced today aggressive goals of its newly consolidated organization for the first quarter of 2008.

Artfest goals are summarized and detailed below as follows: (1) Increase its membership base and subsequently improve its revenues (2) Sign twenty new Artists that will be responsible for 400 new images to be produced exclusively by Artfest, and (3) Launch its new television show starting with approximately 20,000,000 TV households.

Artfest currently serves approximately a 500 plus growing membership base comprised of Dealers and Collectors. Artfest is projecting membership to increase by approximately 2,000 new members by the end of the first quarter 2008. The Company forecasts each new member revenue impact to be approximately $6,700 per year. Members will be recruited through seminars, conventions, personal referrals, and TV & radio ads.

The 20 new Artists that the Company plans to sign will be producing Limited Edition, Signed and Numbered Art that will be available in the following formats. Giclée is a French name for the process of making fine art prints from a digital source using high-end ink-jet printing. Lithography is a method for printing on a smooth surface. Invented by Bavarian author Alois Senefelder in 1796, it can be used to print text or artwork onto paper or another suitable material. Finally, Serigraph, which is silk-screening, also referred to as serigraphy or screen printing, is a centuries-old process originated in China. The ink is applied to a screen, transferring to the paper only through the porous segments. On average, it takes 80 to 100 screens to create a serigraph. All Art available for purchase can be found on the Artfest proprietary "Members Only" Website (www.artchannelgalleries.com).

The upcoming Artfest television show called "Artfest International Presents" will feature an exclusive list of artists and their private collections. The viewers will be able to see how the work is created, the history of the artist and commentary from industry professionals. The show is expected to run weekly and into syndication thereafter including the Art Channel Galleries Business Opportunity TV Infomercial.

Artfest's goals are focused on driving revenue by increasing market penetration, adding to its growing membership in the $120 billion world collectible market. By launching its proprietary self replicating website and solidifying radio and TV exposure, Artfest is poised to expand its unique direct sales art business worldwide. Artfest Chairman and CEO Edward Vakser stated, "By accomplishing these goals the Company is positioned to exceed its historical 2007 year revenues in the first quarter revenues of 2008. The Company will generate its revenue through the following channels: independent distributors, galleries, Internet, television shows, and auctions."

Artfest models its distribution strategy similar to Dallas, Texas-based Home Interiors Inc., a Direct Selling Association (DSA) founded by The Carter Family in 1957, which sells art, flower arrangements other household decorations at Tupperware-style home parties. It's estimated 100,000 members sell more than $1 Billion in merchandise a year.

About Artfest International, Inc.

Artfest International, Inc. is a publicly traded company under the symbol "ARTI." Artfest connects artists, investors, decorators, designers and private collectors and galleries. Artfest (www.artfestinternational.com and www.MyArtfest.com) is the company's E-Commerce venue. Artfest owns the subsidiaries Art Channel, Inc. (www.artchannel.tv), and Art Channel Galleries (www.ArtChannelGalleries.com), offering the most exciting product and rewards program in the history of the direct-sales industry (DSA).

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.

Contact Information

  • Corporate Contact:
    Artfest International, Inc.
    Jacob Cohen
    Controller
    15851 Dallas Parkway, Suite 600
    Addison, TX 75001 USA
    Tel: 877.278.6672
    jcohen@artfestinternational.com