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VGTel, Inc. Completes Digital Scanning of Initial Round of IMAX(R)-Format Films and Executes Licensing Agreements for Additional Titles for Release in 4K Ultra-High Definition

NEW YORK, NY--(Marketwired - January 06, 2014) - Following its November announcement that it started the digital scanning of a series of award-winning IMAX®-format films for release in the new 4K Ultra High Definition Format, VGTel, Inc. (OTCQB: VGTL) announced today that it has completed the scanning of the initial round of movies and has entered into new agreements with K2 Communications to secure the rights for additional films.

The announcement comes on the eve of the 2014 International Consumer Electronics Show ("CES") in Las Vegas where 4K TVs (officially designated for consumer products as Ultra HD) are expected to be this year's highlight. Together, VGTel and K2 are scanning acclaimed IMAX®-format films from 70mm film to digital ultra high definition 8K. The films are then downscaled to 4K for distribution in the new Ultra HD format. The films will be licensed to TV manufacturers, 4K broadcasters and science museum theaters worldwide.

With four times the image resolution of 1080p (Full HD), 4K displays were one of the main attractions at CES last year, but in the last twelve months this next-generation display standard has suffered from a lack of content. "In 2013, the biggest hurdle for the manufacturers and exhibitors has been the lack of quality 4K content. VGTel and K2 are jointly focused on filling this void immediately," said VGTel CEO Peter Shafran.

All of the major television manufacturers now offer a 4K TV option and, in fact, companies like LG, Sony, Samsung, Panasonic, Sharp, Toshiba, Seiki, Hisense, and TCL, are all engaged in a competitive price war to establish market share. Last week, Polaroid announced that its new 50-inch Ultra HD set will be one of the first sub-$1,000 4K TVs on the market. 

"4K resolution is increasingly being employed in commercial digital cinema projection and, with the rise of high-resolution displays in consumer devices like the 15-inch Macbook Pro with Retina Display, Ultra HD is the technology consumers will demand," added Shafran.

Today, VGTel announced it has signed agreements to scan the IMAX®-format documentary films, Bears and India: Kingdom of the Tiger, to digital 8K and, as the Company completes the post-production of the initial titles (which includes Adrenaline Rush, Amazing Journeys and the Academy Award-nominated documentary, Alaska), K2 Communications has entered negotiations with several OEMs for worldwide distribution of the VGTel titles in the beginning of 2014. 

About VGTel, Inc.
VGTel, Inc. is a multi-platform company offering products and support in the entertainment industry and is focused on a strategy of growing and building business units through investments and acquisitions. For further information, go to www.360entertainmentandproductions.com.

Safe Harbor Statement
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking information made on the company's behalf. All statements, other than statements of historical facts, which address the Company's expectations of sources of capital or which express the company's expectation for the future with respect to financial performance or operating strategies can be identified as forward-looking statements. Such statements made by the company are based on knowledge of the environment in which it operates, but because of the possibility of unknown factors, as well as other factors beyond the control of the company, actual results may differ materially from the expectations expressed in the forward-looking statement. An investment in our common stock involves a significant degree of risk. You should not invest in our common stock unless you can afford to lose your entire investment. You should consider carefully all risk factors and other information in our annual report and quarterly filings before deciding to invest in our common stock. If any of the following risks and uncertainties develops into actual events, our business, financial condition or results of operations could be materially adversely affected and you could lose your entire investment in our Company.

Forward-Looking Statements
This press release contains forward-looking statements that involve a number of risks and uncertainties, including statements regarding the outlook of the Company's business and results of operations. By nature, these risks and uncertainties could cause actual results to differ materially from those indicated. Generally speaking, any statements using terms such as "will," "expect," "anticipate," or "may," or which otherwise predict or address future results or events, are likely to contain forward-looking statements. It is important to note that actual results may differ materially from what is indicated in any forward-looking statement. Readers should consider any forward-looking statements in light of factors that could cause actual results to vary. These factors are described in the Company's filings with the SEC, and readers should refer to those filings, including Risk Factors described in those filings, in connection with any forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Contact
Peter Shafran
CEO
VGTel, Inc. dba 360 Entertainment & Productions
Phone: (360) 8-360-ENT
[email protected]

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