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EXHIBIT 99
K-TEL INTERNATIONAL, INC.
2605 Fernbrook Lane North
Minneapolis, MN 55447-4736
(763) 559-6800
CONTACT: Merrill Ayers, CFO
FOR IMMEDIATE RELEASE
K-TEL INTERNATIONAL RECEIVES NASDAQ DELISTING NOTICE
MINNEAPOLIS, MN - SEPTEMBER 26, 2000 - K-tel International, Inc. today announced
that it had been notified by the Nasdaq Stock Market Inc. that its common stock
will be delisted from the Nasdaq National Market, effective with the open of
business on September 27. The delisting was as a result of K-tel's failure to
meet Nasdaq's continued listing requirements. K-tel's Common Stock will be
eligible for trading on the Over-the-Counter Bulletin Board (OTCBB). The OTCBB
is a controlled quotation service that offers real-time quotes, last sale prices
and volume information in over-the-counter equities.
K-tel had appealed this initial decision to a Qualification Hearing Board and is
not currently eligible for listing on the Nasdaq SmallCap Market. Delisting of
K-tel's Common Stock from Nasdaq could have a material adverse effect on the
market price of, and the efficiency of the trading market for, K-tel's Common
Stock.
K-tel International, Inc. is a vertically integrated developer, marketer, and
distributor of entertainment and consumer products worldwide. The Company
markets its product lines through the Internet (WWW.KTEL.COM), and to retailers,
wholesalers, distributors, or licensees throughout the world. K-tel features
music titles, custom CDs and consumer products. K-tel has active operations in
the United States and United Kingdom.
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INFORMATION IN THIS NEWS RELEASE OF A NON-HISTORICAL NATURE RELATES TO FUTURE
EVENTS AND RESULTS OF THE COMPANY (INCLUDING CERTAIN PROJECTIONS AND BUSINESS
TRENDS) THAT ARE "FORWARD-LOOKING STATEMENTS" AS DEFINED IN THE PRIVATE
SECURITIES LITIGATION REFORM ACT OF 1995. THE USE OF TERMINOLOGY SUCH AS
"BELIEVE," "MAY," "EXPECT," "ANTICIPATE," " ESTIMATE," OTHER VARIATIONS THEREOF
OR COMPARABLE TERMINOLOGY MAY IDENTIFY SUCH FORWARD-LOOKING STATEMENTS. ACTUAL
RESULTS AND PERFORMANCE MAY DIFFER MATERIALLY FROM EXPRESSED FORWARD LOOKING
STATEMENTS BECAUSE OF CERTAIN RISKS AND UNCERTAINTIES, INCLUDING BUT NOT LIMITED
TO, CHANGES IN POLITICAL AND ECONOMIC CONDITIONS, DEMAND FOR AND MARKET
ACCEPTANCE OF NEW AND EXISTING PRODUCTS, THE IMPACT FROM COMPETITION FOR
INTERNET CONTENT, MERCHANDISE AND RECORDED MUSIC, DEPENDENCE ON STRATEGIC
ALLIANCE PARTNERS, SUPPLIERS AND DISTRIBUTORS, MARKET ACCEPTANCE OF THE INTERNET
FOR COMMERCE AND AS A MEDIUM FOR ADVERTISING, TECHNOLOGICAL CHANGES AND
DIFFICULTIES, AVAILABILITY OF FINANCING AND OTHER RISKS DISCUSSED IN THE
COMPANY'S 10-K REPORT FOR THE FISCAL YEAR ENDED JUNE 30, 1999 FILED WITH THE
SECURITIES AND EXCHANGE COMMISSION. THE COMPANY UNDERTAKES NO OBLIGATION TO
PUBLICLY RELEASE THE RESULT OF ANY REVISIONS TO THESE FORWARD-LOOKING
STATEMENTS.
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