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Technology Stocks : Cobalt Group-(CBLT) -- Ignore unavailable to you. Want to Upgrade?

To: Ian@SI who wrote (134)	9/22/2000 9:30:40 AM
From: Ian@SI	Read Replies (1) \| Respond to of 141

Online Automotive Technology Industry Leader Wins Rising Star Award; Deloitte and Touche Honors The Cobalt Group at the Fast 50 Awards SEATTLE, Sep 22, 2000 (BUSINESS WIRE) -- The Cobalt Group (Nasdaq:CBLT) has taken another right turn toward gaining recognition as the leading provider of Internet-based business-to-business services to the automotive industry. Last night, Cobalt was named one of the Top 10 Rising Star Award winners in Washington state by Deloitte & Touche in its Washington State Technology Fast 50 Program. "The Cobalt Group is honored to receive the Rising Star Award," said John Holt, president and CEO of The Cobalt Group. "It is with great pride that I attribute this success to the 550-plus employees who are working to make The Cobalt Group the leading provider of Web-based technology and business solutions to the automotive industry." To determine its winners, Deloitte & Touche accounting experts reviewed Cobalt's revenues for the past three years (1997-1999), calculated growth percentages and compared the company's growth to other technology companies in Washington state that met the Fast 50 criteria. In the last three years, Cobalt's revenues have increased from $1.71 million in 1997 to $23.3 million in 1999. Cobalt has developed relationships with nearly half of the nation's auto dealers, 15 major auto manufacturers and more than 50 of the 100 largest dealer groups in the United States. In the past three years, the company conducted its IPO; opened a dealer technology center in Austin, Texas and a regional account services office in Detroit, Mich.; bought two companies (PartsVoice and IntegraLink); and launched MotorPlace.com, a business-to-business portal for the automotive industry. The company has grown from its two original founders to a staff of more than 550. "Technology as we know it has become part of our everyday existence. We at Deloitte & Touche salute The Cobalt Group, whose leaders have the vision and whose staff possess the energy and capabilities to not only keep up with the demands of today's fast-paced technology, but be a leader in the marketplace," said Deloitte & Touche partner Larry Hile.