NeoMedia Technologies, Inc.
OTC Bulletin Board : NEOM

April 06, 2006 11:38 ET

NeoMedia Technologies to Issue Stock Dividend, With Distribution of Shares of Pickups Plus, Inc.

FT. MYERS, Fla.--(CCNMatthews - Apr 6, 2006) -

NeoMedia Technologies, Inc. (OTC BB: NEOM), today announced its intention to issue a stock dividend with the distribution of common shares of Pickups Plus, Inc. (OTC BB: PUPS), of Cincinnati as a property dividend.

Charles T. Jensen, president and CEO of NeoMedia, said NeoMedia plans to distribute 8,333,333 shares of Pickups Plus common stock, which it acquired in February 2005. All NeoMedia shareholders of record as of April 28, 2006 will be eligible for the dividend, he said, and are expected to receive one share of registered, free-trading Pickups Plus stock for approximately every 72 shares of NeoMedia stock owned.

Mr. Jensen said the date of the property dividend payment will be announced after the shares are registered for resale by Pickups Plus with the Securities and Exchange Commission.

Prior to the dividend, NeoMedia holds 28,333,333 shares, or about 20%, of Pickups Plus common stock.

"NeoMedia is pleased to reward our loyal shareholders with this stock property dividend," Mr. Jensen said. "Like our NeoMedia Micro Paint Repair business unit, Pickups Plus - under the leadership of Merritt Jesson -- has made a strong entry into the emerging auto aftermarket in China, which is projected to be the among the biggest in the world within two decades (Source: Tuck School of Business at Dartmouth 04/05)."

Mr. Jesson, president of Pickups Plus, said he was "excited about the exposure our company will be getting through this dividend. NeoMedia has been a fast-track company and has rewarded its shareholders with international expansion and taking a leadership position in multiple business markets. Pickups Plus is also moving forward, in North America and in China, and enthusiastically welcomes and supports this move by NeoMedia."

About NeoMedia Technologies, Inc.

NeoMedia Technologies, Inc. (www.neom.com) is a diversified global company offering leading edge, technologically advanced products and solutions to its clients developed out of market-identified needs. From mobile marketing to telecom services to auto rejuvenation, NeoMedia delivers powerful end-to-end solutions for companies and consumers built upon its solid family of patented products and processes, and management experience and expertise.

About Pickups Plus, Inc.

Pickups Plus, Inc. (OTCBB:PUPS; www.pickupsplus.com) is a retail operator and franchiser of automotive parts and accessories stores catering to the light truck and SUV market, with five franchised locations in the U.S. and two company owned-stores. It markets and distributes the ValuGard line of professional car care and environmental protection products through its Automotive Preservation, Inc., subsidiary to automotive dealerships for new vehicle preparation, as well to detailing shops and automotive specialty stores.

This press release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With the exception of historical information contained herein, the matters discussed in this press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward-looking statement.

Contact Information

  • NeoMedia Technologies, Inc.
    David A. Dodge, +239-337-3434
    or
    The Kaminer Group
    David A. Kaminer, +1 914-684-1934
    dkaminer@kamgrp.com