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Thursday November 19, 10:00 am Eastern Time Company Press Release SOURCE: CBS New Media Group; Navidec Inc. CBS.com Forms Alliance with Navidec to Develop Full-Service Auto Buying Web Site Web Site to Put Automotive Research and Purchasing Power At Customer Fingertips DENVER, Nov. 19 /PRNewswire/ -- The CBS New Media Group, a division of the CBS Corporation (NYSE: CBS - news) and Internet developer Navidec Inc. (Nasdaq: NVDC - news), today announced an agreement to launch a national automotive sales and information web site. Located at cbs.com (http://www.cbs.com), the Auto Guide, expected to launch in early 1999, will provide buying and leasing information and advice as well as generate consumer leads for the purchase or lease of new and used vehicles. Site visitors will access detailed vehicle information, compare different vehicles side by side, determine trade-in values and even submit purchase requests online. ''If you combine the unique structure of the national CBS online affiliate network with the automotive expertise of Navidec, visitors to cbs.com will have a vast supply of automotive information resources and purchasing capability at their fingertips,'' said Derek Reisfield, President, CBS New Media Group. ''The Auto Guide will simplify the auto buying process and provide consumers with the most accurate vehicle information on the Web.'' ''Being selected to develop the cbs.com network automotive web site is a well-deserved compliment to the success of our online automotive solutions,'' said Ralph Armijo, president and CEO of Navidec. ''This agreement solidifies our status as one of the top players in web-based automotive development.'' With a recent JD Power and Associates study finding that 25 percent of all new-vehicle buyers use the Internet to arm themselves with vehicle product and pricing information during the vehicle-shopping process, the online automotive industry is skyrocketing. The Auto Guide answers consumer demand for vehicle information and also provides an additional stream of highly qualified sales leads to auto dealers nationwide. With a nationwide network backbone sustaining 158 CBS affiliates in over 83 percent of the United States, CBS.com launched in February, 1998 as the only thoroughly co-branded Internet presence where local and national content are seamlessly integrated. Affiliates offer localized content in addition to that of CBS News, CBS MarketWatch, the premier Internet financial supersite and CBS SportsLine, a leading online sports service featuring more than 200,000 pages of multimedia sports information, entertainment and merchandise. 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 Bank One and regional media outlets to produce 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.sec.gov. SOURCE: CBS New Media Group; Navidec Inc. -------------------------------------------------------------------------------- | ||||||||||||||
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