SOURCE: Artfest International, Inc.

November 13, 2008 08:00 ET

Artfest International, Inc. Launches Artfest Galleries in Moscow

DALLAS, TX--(Marketwire - November 13, 2008) - Artfest International, Inc. (OTCBB: ARTI) announced the launch of its new Gallery in Moscow, Russia. www.artchannelgalleries.com

The new Gallery is opened with our Joint Venture Partners, Luxor International (www.luxorstyle.com). "This international exposure to the Russian market will enhance Artfest International's visibility and prepare the company for the formal launch of our Social Network, www.myartfest.com, and our proprietary Marketing Portal, www.artchannelgalleries.com," explains Edward Vakser, CEO of Artfest International.

"We have commenced negotiations with our Russian partners for the rollout of our program in Russia. The business climate is well suited to position our program for a successful introduction to the art consumers in Russia," said Scott Tassan, VP of Productions for Artfest International.

Currently, the Moscow market is eager to acquire art from the West. The recent trends in the international art market reflect that a majority of art buyers and investors are coming from Russia. The city of Moscow is home to over 89 Billionaires and over 220,000 Millionaires. Collectively the Russian appetite for art, coupled with their newly acquired buying power, presents an incredible revenue and profitability opportunity for Artfest in the short term.

"Our Russian partners are most impressed with our proprietary marketing software," says Edward Vakser concerning the www.artchannelgalleries.com marketing system. "We have spent considerable time and money in development and on our prelaunch strategies for the multimillion Dollar Enterprise System. Now we are simultaneously launching our program in Russia as well as in the US."

Mr. Vakser further commented, "With the launching of MyArtfest.com and the purchase of the new Gallery in Moscow, we feel that we have established the foundation for building stockholder value, thereby creating the classic 'ground floor' opportunity for our existing shareholders as well as new investors."

About Artfest International, Inc.

Artfest International, Inc. is a publicly traded Company under the symbol "ARTI." Artfest connects artists, investors, decorators, designers, private collectors and galleries. Artfest corporate site is www.artfestinternational.com. Artfest subsidiaries are ArtChannel, Inc. www.artchanneltv.com, 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 21E 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.
    Shirley Casavant
    Investor relations:
    Stasi Turrell
    214-722-3029
    15851 Dallas Parkway, Suite 600
    Addison, TX 75001 USA
    Tel: 877.278.6672
    marketing@artfestinternational.com