SOURCE: Signature Devices, Inc.

Signature Devices, Inc.

May 24, 2010 14:35 ET

Y7 Capital Partners Announces It Has Signed a Letter of Intent to Acquire the New York City Subway Exhibition and Roller Coaster Project

NEW YORK, NY--(Marketwire - May 24, 2010) -  Y7 Capital Partners -- a joint venture between Yamani Pictures and Signature Devices Inc. subsidiary the 7th Level Entertainment Group (PINKSHEETS: SDVI) -- announced today that the company has signed a Letter of Intent for the acquisition of the New York City Subway Exhibition and Roller Coaster Project from Aaron Scharf & Associates LLC.

Slated to be housed in a prime Times Square location, the New York Subway Exhibition and Roller Coaster project will provide a historical overview of the New York Subway utilizing a blend of high tech audio visual theatrics and storytelling to educate visitors on the proud history of one of New York City's most important transportation systems. In addition to the educational exhibition, the project will also be home to the first indoor/outdoor roller coaster ride in New York City which starts inside one of the most prominent buildings in Times Square then rockets out on the rooftop providing riders with spectacular views of the crossroads of the world.

When asked to comment on the strategy behind the acquisition, Y7 Capital Partners Co-CEO RJ Bucaria responded, "This is an amazing opportunity for us to be a part of a truly iconic project that will provide a memorable educational experience to the millions of Times Square visitors from America and around the World." Y7 Capital Partners Co-CEO Robert Y. Wright also added "The joint venture between Yamani Pictures and the 7th Level Entertainment group has once again proven to be a perfect match. The New York Subway Exhibition and Roller Coaster Project is a fantastic example of a project that promotes not only global unity but also demonstrates the synergy between education and entertainment."

The initial agreement in the form of a letter of intent provides the framework for a subsequent definitive agreement under which Y7 Capital Partners would acquire the rights to the project and look to have the exhibition open to the public by the summer of 2012. The details of the proposed deal will be included in the definitive agreement. The letter of intent outlines additional due diligence, deliverables, governmental approvals and other terms that must be fulfilled to proceed to the definitive agreement and to subsequently affect a close of the transaction. 

About Y7 Capital Partners, LLC
Y7 Capital Partners is a boutique investment company established as a joint venture between the 7th Level Entertainment Group and Yamani Pictures for the purposes of identifying, acquiring and investing in entertainment based companies, projects and assets.

About 7th Level Entertainment Group, LLC
The 7th Level Entertainment Group (www.7leg.com) is an International Event Production and Talent Management company that provides clients with a wide range of production and management related services across the full spectrum of the entertainment industry. The 7th Level Entertainment Group is a wholly owned subsidiary of Signature Devices Inc./Graffiti Entertainment (PINKSHEETS: SDVI).

About Signature Devices, Inc. and Graffiti Entertainment, Inc:
Based in Redwood City, Calif., Signature Devices, Inc. creates, develops and manufactures advanced information technology, including computer systems, software and electronics products. One of the Company's premier technologies includes a blend of hardware and software for image generation technology used in video games and simulations. Signature Devices also owns Graffiti Entertainment, Inc. (www.graffitientertainment.com), a publisher of interactive entertainment software for advanced entertainment consoles.

The information in this press release includes certain "forward-looking" statements within the meaning of the Safe Harbor provisions of Federal Securities Laws. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of this release, and the Company undertakes no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date of this release except as required by law.