Altdo Video to Xbox Converter
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This software is a powerful multi-format converting tool for MPG movie with high speed and without movie quality loss.
It can convert 3gp, avi, asf, mov, wmv, mp4, m4v, mpeg, mpg to MPG format. You can enjoy your favorite movies on your XBox.
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Pricing $29.95 USD.
Download trial version here.
The official page can be found here.