Company Press Release
Peacock Financial's Internet Division iNetPartners Prepares Launch of
iNetMotors.com
Shareholder Dividend Planned for 2000
SAN JACINTO, Calif.--(BUSINESS WIRE)--Dec. 29, 1999--Peacock Financial
Corp. (OTCBB:PFCK - news) today announced that one of its Internet
divisions, iNetPartners Inc., will begin doing business under the URL
www.iNetMotors.com early in the first quarter of 2000.
The Internet site was deployed with a soft launch in August of this year
under the URL www.123adc.com, implementing a unique ``Virtual Region'
strategy that provides Internet automobile shoppers easy access to dealer
inventories with detailed pictures and prices online within the shoppers'
immediate ADI (area of dominant influence) using state-of-the-art
e-commerce technologies.
iNetPartners President Robert A. Braner stated: ``We are driven to enhance
the relationship between the Internet shopper and the dealer by bridging
and managing the Internet gap between them on a local basis.
``We know that more than 80 percent of preowned and new vehicles are
purchased within 20 to 35 miles of where the buyer lives or works. We also
know that some 90 percent of all buyers want to inspect and test-drive the
vehicle before purchase. We are fully operational, staffed, and are moving
forward into our next phase.
``This `Virtual Region' application, when expanded through iNetMotors.com
nationally, addresses an approximate $70 million market and, when fully
implemented, will gain a significant market share for automobile product
in excess of $1 billion annually.'
Braner continued, ``Most importantly, our financial model under the
`Virtual Region' strategy provides for a positive cash flow and
profitability within the first 15 months of operation, which few if any
automotive sites that presently operate can forecast.'
Braner is the past president and chief operating officer of Automobili
Lamborghini, the Italian sports-car manufacturer, possessing more than 30
years of retail operations and manufacturing management experience in the
automotive industry.
Tammy Dunn, senior vice president of marketing, stated: ``As consumers are
offered more car-buying choices on the Internet, only those that truly
understand and meet the needs of the automotive consumer will stand out.
The advantage of having earned that position in these early stages of this
emerging market will only serve to enhance and leverage our national
expansion strategy.'
Steve Peacock, president of Peacock Financial, said: ``The business model
branding and strategy that Braner and his team have assembled helps
automotive consumers cut through the clutter of Internet services and
provides solutions to the automotive purchase.
``This process is further supported by our DotCom Ventures subsidiary, and
gives us added confidence in this company's future. It is Peacock's
commitment to assist iNetPartners in structuring a public offering and to
issue `spinoff' shares, in the form of a dividend, to Peacock shareholders
in early 2000.'
About Internet Motors (www.iNetMotors.com)
Regionally branded Auto Discount Centers (www.123adc.com) will change its
URL to www.iNetMotors.com in the first quarter of 2000. The Web site
presently provides a dynamic and very comprehensive automotive Internet
site, offering consumers a positive purchasing and ownership experience
that prioritizes and features preowned vehicles.
Independent surveys establish that the convenience and cost- effectiveness
of shopping for preowned automobiles on the Internet is a clearly
established growth trend.
Safe-harbor statement under the Private Securities Litigation Reform Act
of 1995: The statements contained herein that are not historical are
forward-looking statements that are subject to risks and uncertainties
that could cause actual results to differ materially from those expressed
in the forward-looking statements, including but not limited to certain
delays beyond the company's control with respect to market acceptance of
new technologies or products, delays in testing and evaluation of
products, and other risks detailed from time to time in the company's
filings with the Securities and Exchange Commission.
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Contact:
Peacock Financial Corp., San Jacinto
Steven R. Peacock, 909/652-3885
www.peacockfinancial.com
or
National Financial Communications, Needham, Mass.
Geoff Eiten, 781/444-6100
or
Stock Enterprises, Las Vegas
Jim Stock, 702/614-0003 |
