SOURCE: Artfest International, Inc.

August 20, 2009 14:07 ET

Artfest International, Inc. Increases Revenues by 1,945% for the Six Months Ended June 30, 2009 as Compared to the Same Period in 2008

Company Files Its 10Q With the SEC for the Second Quarter Ending June 30, 2009

DALLAS, TX--(Marketwire - August 20, 2009) - Artfest International, Inc. (OTCBB: ARTI) is pleased to announce that the Company has generated $505,900 in operating revenue for the six months ended June 30, 2009 as compared to $24,736 in operating revenue for the six months ended June 30, 2008, which is an increase of 1,945%. The increase in operating revenue is due to the increased sales of art and sports memorabilia through events held at the Company's 52,000 square foot facility in Dallas, Texas, and direct sales activity through its subsidiaries Art Channel, Inc. and Art Channel Galleries, Inc.

Artfest International completed the acquisition of Charity Sports Distributor (CSD) on June 30, 2009. CSD is a vertically integrated Texas-based custom framing company that specializes in the design, production and distribution of authentic framed autographed sports and entertainment collectibles and art pieces. CSD's distribution avenues include business to business (B2B) and business to consumer (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 13 years' experience in the professional and college sports marketplace has developed an extensive client list, which consists of hundreds of private charities and over 40 professional and college teams, including the Dallas Cowboys, Washington Redskins, Oakland Raiders, Houston Rockets, Dallas Mavericks, Cleveland Cavaliers, Phoenix Suns, Arizona Diamondbacks, Dallas Stars, Ohio State, Texas, Texas A&M, Oklahoma, Alabama, Georgia, Auburn, Florida State and UCLA.

Artfest International will be in a position to launch the distribution of CSD's product line through Art Channel Galleries, the marketing arm and wholly owned subsidiary of Artfest International, during the Third Quarter 2009. The addition of CSD's product line will complement and expand Artfest International's ongoing product promotions and special purchase packages, which are directed towards introducing a select number of acclaimed artists to the Company's members. CSD generated $3.3 Million for the calendar year 2008 and Artfest International will consolidate results beginning with the Third Quarter 2009.

"We are excited about the progress that Artfest International has made during the first six months of this year and we look forward to continuing to increase shareholder value through sales and key acquisitions," stated Edward Vakser, CEO of Artfest International, Inc.

Artfest International's Second Quarter 10Q can be found at: http://www.sec.gov/Archives/edgar/data/1168738/000121478209000241/artfest10q063009.htm.

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.

Contact Information

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    407-389-5900