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To: Tim Luke who wrote (30564)	12/18/1998 9:56:00 AM
From: TraderTerry	Read Replies (1) \| Respond to of 119973

CDWI up 5 1/2 on Web site news.. Friday December 18 9:33 AM ET CD Warehouse Launches New/Used Music Site On Web OKLAHOMA CITY (Reuters) - Music retailer CD Warehouse Inc. (Nasdaq:CDWI - news) Friday said it opened its interactive Web site to sell new and used music compact discs available from its chain of more than 300 retail outlets. In a statement, CD Warehouse said it sells new and ''pre-owned'' CD music from 317 retail stores operating in 40 states and in five countries outside the United States. In announcing plans to spend $1 million to develop the site in September, the company had said it would combine music inventory from its 300 stores into a single database, which would route online orders to the nearest store for delivery. An executive of the company said in a recent interview that its retail chain plays a vital link in the Web-sales strategy, because the stores act as receiving centers for customers to sell used music and create inventory to re-sell on the site. ''CD Warehouse has developed a strategy for Internet marketing we call 'B-M-W,' bricks, mortar and the web,'' CD Warehouse Chairman and CEO Jerry Grizzle said in the statement. ''The Internet becomes a logical extension of our core business and reinforces our primary business,'' he said. The CD Warehouse site allows consumers to search for music in categories like Rock/Pop/Soul, Country, New Age and Classical from among new releases and one of the largest inventories of used music recordings in the United States. The company said the new Web site represented the first phase of its planned ''online music community'' and that the company planned to add several enhancements to the Web site over the next several months. CDWarehouse.com (www.cdwarehouse.com) has licensed the contents to the All-Music Guide Site, which will allow users access to a storehouse of music information. Enhanced security safeguards are provided for credit card purchases, it said. The site was designed by International Business Machines Corp. (NYSE:IBM - news) and uses its electronic commerce software system to manage transactions. The company reported a 96 percent jump in third-quarter net profits on sales of $13.7 million, a 46 percent increase over the 1997 third quarter. But earnings per share were flat, year-over-year, as the number of shares outstanding doubled. The company franchises and operates retail music stores in 40 states, England, France, Guatemala, Canada and Venezuela under the names CD Warehouse, CD Exchange and Disc Go Round.