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Non-Tech : APCO Automobile Protection Company

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To: James Strauss who wrote (2390)	7/29/1998 8:40:00 PM
From: Robert DeHaven	Read Replies (5) of 3351

Conference Call Notes: The call was attended by: RAF JC Bradford Kenney Secs. Robinson Humphrey Morgan Keegan Several times Dorfman mentioned that the Banc One business will effectively double the revenues of APCO over 12 months time. The current quarter was simply core business being executed perfectly. Expect similar performance going forward. They are trying to smooth out a typical weak Q3 by offering dealers incentives. There are new business line (Manheim) coming on which will add to current Qtrly revenue. APCO bought marketing rights to Simonize products and will package their products under an "Easy Care Auto Package"...selling products for a margined price. No inventory, no production just sales.... Autoconnect.com an internet auto site will offer "Easy Care" package. Currently the site is getting 40,000 hits per day. APCO Easy Care maintenance software runs on your PC and will remind you of scheduled maintanance for your care and keep imortant records....software will also print discounts from dealers for services performed by the dealer to enhance brand loyalty. JC Bradford mentioned that there was high volume in the stock recently and that there "was" don't know if it still is a block of stock for sale....keeping the price artificially low...Dorfman responded with a laugh..."I don't know why anyone would sell at this price...we are building something of true value here. Hell that decisionto sell was made well in advance of these numbers and I think the stock is very much undervalued. We hgave the deals in place to double or triple our size in the next one to two years....Hey guys tell everybody APCO's on sale"...."I'm not worried about the stock for sale or the price." Will a national brokerage follow APCO? Well we don't have to borrow $40 million so that seems to be a sure way to get you followed by a national firm....When you have $26 mill in cash and do your own deals they kinda leave you alone.....Dorfaman added....but I wouldn't be surprised if one did follow us ....with the deals we have in place ...they should. Honda Finance Deals will be extended .....negotiations will be taking place soon.... Year 2000 issue --no problem its been tested for over and over again.... I was impressed by the whole enthousiastic tone of Mr. Dorfman.....IMHO ----buy APCO its dirt cheap. good luck, bob

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