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New York, NY, Tuesday, February 7, 2006 - ASCAP (American
Society of Composers, Authors and Publishers), the leading U.S.
performing rights organization, and technology company LTDnetwork (a
subsidiary of Advanced Technology Industries [OTCBB:AVDI]) announced
today that they have agreed to enter into a licensing arrangement for
royalty collection and distribution to writers and publishers whose
music will be available via LTDnetwork's Qtrax P2P network.
Qtrax is an ad-supported legal P2P service that marries the
power of Peer-2-Peer and quality Internet advertising to provide
improved value to the consumer. Qtrax will provide users with a legal
file-sharing venue designed to prevent the unlawful distribution and/or
reproduction of unlicensed copyrighted content and provide for the
protection of intellectual property owners' rights, as well as their
compensation. Files authorized for sharing by content owners will be
freely transferred via the Qtrax P2P network and supported via content
filtering technology.
"This agreement reflects ASCAP's approach to new technology,
which focuses on the maximization of members' performance payments
through the development of new performance mechanisms," said ASCAP
Assistant Vice President and Director of New Media & Technology
Matthew J. DeFilippis. "Qtrax joins an expanding list of digital music
services that have realized the business-building advantages of an
ASCAP license."
Allan Klepfisz, President & CEO of Advanced Technology
Industries, said: "We are delighted to work with ASCAP, an organization
that has a pivotal role in the music industry via the 230,000 U.S.
composers, songwriters, lyricists, and music publishers it represents.
Qtrax will change the way digital music is offered and has the
potential to better compensate rights owners while offering the
consumer more of what they want. It has taken us almost four years to
reach a point of broad acceptance for our model and we are firmly
focused on its potential to be an industry standard."
About ATI
Advanced Technology Industries, Inc. is a technology holding company
devoted to technology identification and acquisition, as well as
research and development leading to commercialization of innovative
products, including proprietary technologies. Through its subsidiary,
LTDnetwork, Inc. ("LTD''), the Company owns a range of cutting-edge
proprietary software products developed by LTD that are designed to
facilitate and enhance the purchasing experience of both its own
customers and those of leading Internet companies that will utilize the
products under joint venture or licensing arrangements. The Company is
currently focusing on the launch of LTD's innovative P2P file sharing
service, Qtrax. The Company has offices in New York, New York and
Melbourne, Australia.
About ASCAP
Established in 1914, ASCAP is the first and
leading U.S. Performing Rights Organization representing the world's
largest repertory totaling over 8 million copyrighted musical works of
every style and genre from more than 230,000 composer, lyricist and
music publisher members. ASCAP also represents the repertories created
by the international affiliates of 70 foreign performing rights
organizations. ASCAP protects the rights of its members and foreign
affiliates by licensing the public performances of their copyrighted
works and distributing royalties based upon surveyed performances.
ASCAP is the only American Performing Rights Organization owned and
governed by its writer and publisher members.
www.ascap.com
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