Thursday May 21, 8:05 am Eastern Time
Company Press Release
Pivot Rules, Inc. Joins Forces With Web Agency to Build New Online
Store
NEW YORK--(BUSINESS WIRE)--May 21, 1998--Pivot Rules, Inc. (NASDAQ: PVTR, PVTRW/BSE: PVR, PVRW)
announced today that it has retained Kaufman Patricof Enterprises, Inc. (KPE) to produce and develop the Web site for its
Internet store that will sell off-price designer apparel and accessories.
The six-figure development deal, which includes an equity component, will result in a fully integrated e-commerce site enabling
shoppers to purchase a wide array of brand name apparel and accessories from the comfort of their own home.
''We selected KPE for its superior technical and creative expertise. We believe this alliance will be a key factor in our efforts
to realize the enormous potential of the online outlet store,'' says Ken Seiff, Chief Executive Officer of Pivot Rules, Inc.
Pivot Rules, Inc. recently announced the formation of its Internet division, which will seek to capitalize on the tremendous
growth in online retail sales. The online store will sell brand name, first-quality, end-of-season and excess merchandise directly
to consumers.
''Based on the significant opportunity for this site and our confidence in the Pivot Rules team, we chose to incorporate stock as
part of our fee structure for the first time. We look forward to a long and rewarding relationship,'' says Mark Patricof,
President of KPE.
KPE has produced content and commerce sites for well-known industry leaders such as IBM, Sony, CBS and Variety.
The Web site is a new division of Pivot Rules, Inc. The Company's other division designs, sources and markets a full collection
of golf sportswear with a fun attitude and style for men under the Pivot Rules brand name.
This press release may include statements that constitute ''forward-looking'' statements, usually containing the words
''believe'', ''project'', ''expect'', or similar expressions. These statements are made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that
could cause actual results to differ materially from the forward-looking statements. The risks and uncertainties are detailed from
time to time in reports filed by the company with the Securities and Exchange Commission, including Forms 8-A, 8-K,
10-QSB, and 10-KSB, including, but not limited to certain risks relating to consumer acceptance of the internet as a medium
for purchasing apparel, the startup nature of the Internet business, the capital intensive nature of such business (taking into
account the need for advertising to promote such business), the potential for competitors with greater resources to enter such
business and the Company's lack of experience in such business.
Contact:
Pivot Rules, Inc.
Ken Seiff, CEO
212-944-8000 x25 |
