Somerset Entertainment Income Fund
TSX : SOM.UN

Somerset Entertainment Income Fund

October 06, 2005 08:46 ET

Somerset Entertainment Confirms Deal With A Major Mass Merchant Store Chain

TORONTO, ONTARIO--(CCNMatthews - Oct. 6, 2005) - Somerset Entertainment Income Fund (TSX:SOM.UN) has confirmed a deal to install the Fisher-Price® Music Series displays in over 170 locations of a mass merchant store chain in the United States. The displays and associated music product are expected to ship in October 2005. The 12-title, electric displays will be located in the children's book section of the store. The decision to launch the program follows a successful test by the retailer in selected stores.

In addition, Somerset will also launch its 24-title Reflections music display in all locations. This lifestyle music series will be installed in the book/magazine section in October 2005.

"We are very pleased to roll out both the Fisher-Price® and the Reflections Music Series into all stores of this respected retailer for fourth quarter. Based on this retailer's large format stores with high consumer traffic, we are confident that our new displays will generate strong unit sales per door," said Andy Burgess, Chief Executive Officer of Somerset Entertainment.

Somerset is actively pursuing a five-point growth strategy through increased penetration of existing customers, new customers in existing distribution channels, new distribution channels, new product lines and expanded international sales. This deal demonstrates Somerset's ability to grow through new customers in existing distribution channels, particularly in the large U.S. mass merchant store market.

Launched in October of 2002, the Fisher-Price® Music Series combines the vocals of Fisher-Price® 's classic Little People® characters with engaging and entertaining music. The Fisher-Price® Music Series is currently available in over 4,000 retail locations around the world and has been awarded the POP Times, Design of the Times Award in 2003, the iParenting Media Award in 2003, and three gold records in Canada.

Fisher-Price, Inc., a subsidiary of Mattel, Inc. (NYSE:MAT) and located in East Aurora, New York, is the leading brand of infant and preschool toys in the world. The Company has a 75-year legacy of high-quality toys that enhance early childhood development. Its often-emulated Play Laboratory was the first child research center of its kind in the toy industry, allowing researchers to observe the way children play and how play benefits their development. Some of the Company's best-known "classic" brands include Little People®, Power Wheels® and View-Master®. Fisher-Price is also a leading developer of baby gear products (nursery monitors, infant swings, high chairs) as well as a wide array of character-based toys inspired by high quality children's programming such as Sesame Street®, Dora the Explorer™ and Winnie the Pooh. The Company's web site, at www.fisher-price.com, provides valuable information and resources to parents.

About Somerset Entertainment Income Fund

Somerset is the leading North American producer and distributor of specialty music sold internationally through non-traditional retailers using interactive displays. The company's extensive distribution network includes mass merchants, specialty chains and independent gift stores in more than 20 countries, including the United States and Canada. Based in Toronto, Canada, the company employs over 125 people at offices in Toronto, Buffalo Grove, Illinois, U.S.A., and Essex, England.

Somerset Entertainment Income Fund website, www.somersetent.com/incomefund, provides additional information about the fund and its many quality products.

Certain statements in this news release are "forward-looking statements", which reflect management's expectations regarding the future growth, proposed acquisitions, results of operations, performance, business prospects, opportunities and the amount and timing of the payment of distributions of the Fund. All statements other than statements of historical fact contained in this news release are forward-looking statements. Such forward-looking statements involve risks and uncertainties, as they reflect management's current beliefs and are based on information currently available to management. Actual results may differ materially from those anticipated in the statements made. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The forward-looking statements are made as of the date of this news release and the Fund assumes no obligation to update or revise them to reflect new events or circumstances. Further information regarding the uncertainties and risks can be found in the disclosure documents filed by the Fund with the securities regulatory authorities, available at www.sedar.com.

Contact Information

  • Somerset Entertainment Income Fund
    Andy Burgess
    Chief Executive Officer
    (416) 510-0505
    (416) 510-6915 (FAX)
    investorrelations@somersetent.com
    20 York Mills Road, Suite 600, Box 900 Toronto, ON M2P 2C2