01/28 08:32 Kansas City's NBC 41, BANK ONE and Navidec Announce <NVDC.O>
ONE.N>
Kansas City's NBC 41, BANK ONE and Navidec Announce KCWheels.com;
Electronic Commerce Site Reshapes Automotive Industry in Kansas City
KANSAS CITY, Mo., Jan. 28 /PRNewswire/ -- With better access and variety
driving increased shopping on line, more Kansas City residents are gearing up
to buy their next car on the Internet. Soon they'll have that opportunity
through KCWheels.com, a new online auto shopping site announced today by
Kansas City's KSHB NBC 41, Internet developer Navidec Inc. (Nasdaq: NVDC), and
Banc One Credit Company, the indirect automotive financing unit of Finance One
Group, a subsidiary of BANK ONE CORPORATION (NYSE: ONE).
Set to launch in early 1999, KCWheels.com is part of the USWheels.com
regional online auto shopping network sponsored by Navidec and Banc One Credit
in markets nationwide. Similar to other sites in the USWheels.com network,
KCWheels.com will feature research and shopping sections. The site's Auto
Research Center will contain more than 100,000 pages of vehicle information
including pricing and safety information, side-by-side vehicle comparisons and
third-party reviews from Motor Trend. After determining what vehicle they are
interested in, consumers can search the Auto Locator, which contains daily
updated inventory of thousands of vehicles on area dealership lots.
"KCWheels.com will help revolutionize how vehicles are bought and sold in
Kansas City," said Edward Tinsley, President of the Indirect Financial
Services Division of the Finance One Group and Chief Executive Officer of its
operating unit, Banc One Credit Company. "One visit to this web site will
help replace driving all over town to find the right vehicle at the right
price."
JD Power and Associates recently reported that one in four auto buyers
currently use the Internet in their purchase. KCWheels.com will provide area
dealers with an easy way to showcase their inventory online and tap into the
growing population of Internet auto shoppers. Additionally, with BANK ONE's
online credit application and approval process, dealers will have a new stream
of pre-approved customers virtually shopping their lots 24-hours a day.
"We saw a unique opportunity to provide the Kansas City area with the
fastest and easiest way to buy new and used vehicles," said Craig Allison,
general sales manager of KSHB. "From researching vehicles to financing
through BANK ONE and buying from a local dealership, KCWheels.com will give
auto buyers one site with a full-service auto buying solution."
When the site is launched, KCWheels.com will join active USWheels.com
sites in Dallas, Denver, Phoenix, Portland, OR and Salt Lake City. Navidec is
currently developing additional sites in Los Angeles, Oklahoma, San Francisco
and York, PA. By 2000, the USWheels.com network is expected to contain active
sites in at least 30 markets nationwide.
Banc One Credit Company, based in Phoenix, is the nation's second-largest
bank-owned provider of automotive financing, with more than $23 billion in
managed assets. It is a unit of the Finance One Group, the consumer finance,
mortgage, and indirect auto lending subsidiary of BANK ONE CORPORATION, which
is the nation's fifth largest bank holding company, with assets of more than
$235 billion. BANK ONE offers a full range of financial services to
commercial and business customers and consumers. It is one of the nation's
two largest credit card lenders, the second-largest consumer and commercial
finance company, the third-largest bank lender to small businesses, and the
third-largest bank mutual fund company. It operates more than 2,000 offices
and a nationwide network of ATMs. It is a major commercial bank in the United
States and in selected international markets. Information about BANK ONE can
be accessed at www.bankone.com; through InvestQuest at www.investquest.com; or
through Fax-on-Demand at (614) 844-3860.
Navidec Inc., based in Englewood, Colorado, is a leading national provider
of products and solutions that use web-based technologies to achieve its
customers' business objectives. From commercial web site development to the
design and implementation of intranet and extranet applications and tools,
Navidec helps customers develop successful online solutions. Navidec's
premier vertical market focus is on the automotive industry with its
USWheels.com online automotive sales solution. Navidec partners with media
organizations to produce regional USWheels.com web sites in markets
nationwide. The company's web site address is www.navidec.com.
All statements in this press release, other than historical facts, are
forward looking statements. These statements are based on certain assumptions
and analyses made by Navidec in light of its experience and its perception of
historical trends, current conditions, expected future developments and other
factors it believes are appropriate under the circumstances. Such statements
are subject to a number of risks and uncertainties, including general and
economic business conditions, demand for automobiles, competition from other
automotive online services, market acceptance of the Wheels solutions, the
ability of Navidec to reach agreements with local media partners and other
risk factors indicated from time to time in Navidec's filings with the
Securities and Exchange Commission. Those filings are available online at
www.freeedgar.com.
SOURCE Navidec Inc.
-0- 01/28/99
/CONTACT: Media, Andrea Pearson, or Andy Mountain, 800-797-7565, both of
Navidec Inc.; or Investors, Len Turano of TKO International, 303-850-7896, for
Navidec Inc./
/Web site: bankone.com
/Web site: navidec.com
/Web site: kcwheels.com
-- LATH010 --
3131 01/28/99 08:15 EST prnewswire.com
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