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Press Release
Consumer Electronics Industry Veterans Bernard Appel and Richard Ekstract Appointed to Board of Directors of The Singing Machine
October 30, 2003
Coconut Creek, FL, October 30, 2003 The Singing Machine Company (AMEX: SMD) announced today that consumer electronics veterans Bernard S. Appel, former Chairman and President of Radio Shack, and Richard Ekstract, noted industry publisher, have been appointed to the Board of Directors.
"Bernard Appel and Richard Ekstract are well-known and highly respected throughout the consumer electronics industry. They bring unparalleled industry knowledge, a wealth of insight into new opportunities and markets, worldwide credibility, and years of directly relevant experience to our Board. We are pleased to welcome them to Singing Machine, and look forward to their contributions to our continued growth," said Chairman Josef Bauer.
During his 34 years at Radio Shack, Bernard Appel, 71 years old, held every key merchandising position at this leading consumer electronics retailer, culminating with his promotion to President in 1984. Prior to his establishment of Appel Associates in 1993, Appel also served as Chairman of Radio Shack and Senior Vice President of Tandy Corporation. During his illustrious career, Radio Shack grew from three stores to more than 7,000 stores worldwide. Beginning in 1966, Appel traveled throughout Asia to forge new and innovative business partnerships that benefitted both Radio Shack and its vendors. In a review of Tandy/Radio Shack in the November 26, 1990 issue of Forbes magazine, Radio Shack's "streetwise president" was referred to as "the best buyer of consumer electronics in the world." Appel is one of only 76 members of the Consumer Electronics Hall of Fame.
Richard Ekstract, 72 years old, created, financed and launched more than 20 business and consumer periodicals about the consumer electronics industry during his career. His trade magazines informed the target audience of retailers, as well as manufacturers, distributors and sales representatives, of new product and sales opportunities and contributed to the expansion and growth of the consumer electronics industry. He began his publishing career in 1959 with Audio Times, a newspaper for hi-fi retailers. In 1971 he acquired the rights to Consumer Electronics Show Daily and soon launched Consumer Electronics Monthly. Ekstract also founded Autosound & Communications, CARS, Home Satellite, TWICE, Video Business and Wideband for the trades, and Electronic Fun and Video Review magazines for consumers, as well as License!, a monthly magazine covering worldwide licensing. He founded the Home Office Association of America, and established the Audio Hall and the Video Hall of Fame. Ekstract was elected to the Consumer Electronics Hall of Fame in 2002.
Singing Machine soon plans to name an additional outside Director to fill the remaining vacant seat on the company's Board, which now consists of outside directors Appel and Ekstract, Interim CEO Y.P. Chan, and Chairman Josef Bauer.
About The Singing Machine
Incorporated in 1982, The Singing Machine Company develops and distributes a full line of consumer-oriented karaoke machines and music under The Singing Machine®, MTV®, Nickelodeon®, Hard Rock Academy®, and Motown® brand names. The first to provide karaoke systems for home entertainment in the United States, Singing Machine sells its products in North America, Europe and Asia.
Investor Contact:
Neil Berkman
Berkman Associates
(310) 277-5162
info@BerkmanAssociates.com
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