Hotel Online  Special Report
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KoolConnect Discloses Influx Of Significant
Amounts of New Investment Capital
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Existing and new investors in the world’s leading fully digital and HD in-room
entertainment company provide funds to realize substantial international growth
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NEEDHAM, MA – August 10, 2006 – KoolConnect Technologies, Inc, the leading worldwide provider of digital and HD in-room entertainment to the luxury and upscale hospitality marketplace, disclosed today that the company has recently raised $2 million in incremental capital, bringing the total capital infused into the company over the past 12 months to over $10 million - including over $5 million in equity securities and approximately $5 million in loans - plus over $15 million in lines of credit to fund extensive growth opportunities in the U.S., Middle East and Asia Pacific.  

“With the hospitality industry in full recovery and so many properties interested in upgrading their in-room experience with new technologies such as flat panel TVs and HD, the interest in KoolConnect and our level of deal volume worldwide has grown exponentially,” said Dave Tahan, KoolConnect’s Chief Operating Officer.  “We’re very pleased that our investors have provided us with the capital to allow us to continue to invest in our new development efforts as well as to meet this substantial market demand, including the ability finance attractive business models such as full revenue share and subscription fee arrangements to allow hotels to adopt our technology with no capital outlay,” he added.  

These funds were invested by major shareholders including investment funds such as LTG International Ltd, Sire LLC, Braymar Associates and Plough Penny Partners as well as several independent high-worth individuals.    A catalyst for this incremental investment has been the company’s recent success and the expansion its digital VOD solutions worldwide.  “Our IMAGINE digital and INTRIGUE HD solutions are becoming the de facto standard for upscale and luxury hotels,” said Tahan.  To quantify this success, he noted that KoolConnect has just passed a significant milestone – 20,000 in signed and installed rooms – including contracted properties in the US, Europe, UAE, Japan, Australia and Hong Kong.

“KoolConnect was one of the first companies to introduce fully digital VOD, and the first company to introduce fully HD VOD,” said Tahan.  “With this new funding, we’re able to continue to invest in innovative new solutions like IPTV and PVR and to continue to expand on a global basis.” 

About KoolConnect
KoolConnect Technologies, Inc. is a leading provider of compelling media solutions - including standard digital and advanced High Definition Video on Demand for the Hospitality Industry. KoolConnect’s innovative platform provides interactive media and high-speed data services over digital IP networks and offers a host of scalable turnkey solutions in a variety of flexible business models - including complete revenue-share options.   To learn more about KoolConnect, visit www.koolconnect.com.

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Contact:

Ilanna Walden
KoolConnect Technologies
1-416-597-9615
iwalden@koolconnect.com

Investor Contact:
Isaac Fattal
1-917-701-3903
ifattal@koolconnect.com

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Also See: KoolConnect Promotes Dave Tahan to C.O.O. ; Longtime Video on Demand and Studio Releations Expert's Position Elevated to Top Executive Role / August 2006
KoolConnect Reports “Huge” Interest in IPTV and PVR at HITEC 2006 / July 2006
KoolConnect Acquires VOD Operations of Entertainment Media & Telecom Corporation Ltd. / November 2005

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