SIGNS AGREEMENT WITH
3D INTERNET SITE
Worlds Technology and Music Content
to be Included
on Approximately 1,000,000 Audio CDs
Boston, MA – June 18th, 1998 – Worlds Inc., a pioneer in 3D Internet technology, announced today that it has entered into an agreement with Universal / Hyundai LLC ("Universal") d.b.a. "animalhouse.com" for the creation of a 3D Internet website as part of Universal’s "animal house.com" Internet site project which is anticipated to launch in late August to coincide with the "back to school" period for college students. As part of the launch of "animalhouse.com," Universal plans to distribute approximately 1,000,000 enhanced audio CDs which will contain compilation recordings of various Universal Music Group affiliated label artists, in addition to a custom 3D Internet site that Worlds is presently creating and will operate. The CDs are expected to be distributed on select college campuses, through select bookstores and elsewhere.
Worlds contribution to the "animalhouse.com" project is the creation of a 3D Internet animalhouse world for college students, including an "animalhouse.com" 3D Internet club. The Worlds 3D space for "animalhouse.com" is expected to allow students to select an avatar (their alter ego character), go online and meet other students, chat, and participate in other online activities, all in a 3D world. Thom Kidrin, President and CEO of Worlds, said, "This Agreement with Universal involving Worlds as part of the "animalhouse.com" project provides Worlds with an ideal format, the audio CD, for the distribution of our 3D Internet technology and music oriented content to a targeted audience. Our ability to create a community of shared interests around the "animalhouse.com" motif presents Worlds with an opportunity to showcase our technology and the content we have created using this technology."
As part of the Agreement, Worlds may produce, distribute and sell a standalone 3D Internet CD with content identical or similar to the content that Worlds produces for the 3D Internet "animalhouse.com" site for "animalhouse.com." In addition, "animalhouse.com" has agreed to offer the Worlds CD for sale from its "animalhouse.com" store on the "animalhouse.com" site.
About Worlds Inc.
Worlds Inc. recently announced that it would, subject to a number of conditions, including shareholder approval of both companies, merge into Unity First Acquisition Corporation
(OTC: BB UFAC – 4 7/8), a publicly traded "blank check" company, with the Worlds Inc. name being retained for the merged company, which will carry on the business of Worlds. The merger, if consummated, calls for each share of Worlds being exchanged for .357 shares of UFAC. Worlds current shareholders will retain ownership of in excess of 75% of the merged company.
Worlds Inc. is developing music-oriented content applications for its proprietary 3D Internet technology for consumer markets, as well as developing select business oriented applications. Worlds Inc. obtained new financing and management in late 1997.
Forward-looking Statements. The information herein contains forward-looking statement that involve a number of risks and uncertainties. A number of factors could cause actual results, performance, and achievements of the company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These factors include, but are not limited to, the competitive environment, inflation, changes in costs of goods and services, economic conditions in general and in the Company’s business, demographic changes, changes in the availability of and terms of financing to fund the anticipated growth of the Company’s business, the ability to attract and retain qualified personnel, changes in the Company’s capital expenditure plans, and other factors referenced herein and in the Company’s filings with the SEC. In addition, such forward-looking statements are necessarily dependent upon assumptions, estimates and dates that may be incorrect or imprecise and involve known and unknown risks, uncertainties and other factors. Accordingly, any forward-looking statements included herein do not purport to be predictions of future events of circumstances and may not be realized. Forward-looking statements can be identified, by, among other things, the use of forward-looking terminology such as "believes," "expects," "may," "will," "should," "seeks," "anticipates," "intends" or the negative of any thereof, or other variations thereon or comparable terminology, or by discussions of strategy or intentions. Given these uncertainties, prospective investors are cautioned not to place undue reliance on such forward-looking statements. The Company disclaims any obligation to update any such factors or to announce publicly the results of any revisions to any of the forward-looking statements contained herein to reflect future events or developments.