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Non-Tech : Auric Goldfinger's Short List -- Ignore unavailable to you. Want to Upgrade?

To: Sir Auric Goldfinger who wrote (2699)	7/21/1999 6:04:00 PM
From: afrayem onigwecher	Read Replies (2) \| Respond to of 19428

Electric City Corp. Announces Illinois Distribution Agreement Worth $5 Million Year 1 ELK GROVE VILLAGE, Ill.--(BUSINESS WIRE)--July 21, 1999--Electric City Corp. (OTC Bulletin Board: ECCC - news) announced that Jim Stump, President of Ready Components Incorporated, has today acquired the exclusive distribution rights for the state of Illinois. Mr. Stump has given Electric City Corp. a deposit of $500,000 as an initial fee and is purchasing ECCC stock in the amount of $2 million dollars. There is a letter of credit in the amount of $3 million to be held by Electric City Corp., which will secure the first year sales of EnergySavers. The contract is a 10-year agreement that is potentially worth over $34 million in the first 5 years. The first year sales are guaranteed through the letter of credit. RCI, operating as Electric City of Illinois, will purchase EnergySaver units in the amount of $250,000, or more, each month for the first 12 months of the distribution agreement. ''Economically this product has the potential to affect Illinois and entire U.S. in a very positive way. Organizations will decrease their once fixed overhead costs significantly with the 20-50% savings the EnergySaver affords. We are marketing this product to large commercial accounts; the savings can be applied directly to a corporation's bottom line. These increased earning should excite shareholders,'' stated Jim Stump, President of Electric City of Illinois. ''Jim has been involved since the initial testing of the EnergySaver. His 20 plus years of experience and contacts in Illinois are a valuable addition to our ever-growing distribution network. I feel Illinois is the most valuable state we have at this point due to the marketing efforts of corporate and our already established dealer network,'' stated Joseph C. Marino, CEO and Chairman of the Board. Jim Stump has been a union electrician for over 20 years in the Local 134. Ready Components Incorporated is wholly owned and operated by Jim Stump and is a sister company of Dia Mac Electric, located in Bridgeview, Illinois. RCI was founded to distribute the EnergySaver technology locally in the state of Illinois. Dia Mac Electric is an electrical contractor, which caters to the mid-size commercial/industrial market. The EnergySaver: State of the Art Lighting Control Technology is a proprietary energy management system designed to reduce the cost of lighting. These savings are achieved without a loss in essential brightness and without reducing the number of hours the lights are used. Electric City Corp. (www.electriccityeccc.com), located in Elk Grove Village, Ill., is an energy technology and manufacturing company created to introduce this State of the Art Lighting Control Technology to the United States after 17 years of success in Europe. Electric City Corporation markets and manufactures the EnergySaver products that offer savings in the range of 20% to 50% to the commercial sector on their utility bills and lighting related expenses. Some of Electric City's clients include, Frito Lay Inc. a subsidiary of PepsiCo INC (PEP), Tru Vue, a subsidiary of APOGEE ENTR (APOG) and automobile dealerships including Ford and Dodge. Except for the historical information contained herein, this press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934 as amended, and are subject to the safe harbors created thereby. The Company's future actual results could differ materially from the forward-looking statements discussed herein. For additional information please contact: Electric City's Stephanie Cox, Director of Marketing and Public Relations, at 847/437-1666. -------------------------------------------------------------------------------- Contact: Electric City Stephanie Cox, 847/437-1666 -------------------------------------------------------------------------------- More Quotes and News: Electric City Corp (OTC BB:ECCC - news) Related News Categories: oil/energy, utilities --------------------------------------------------------------------------------